mHUB is an innovation center for physical product development and manufacturing headquartered in Chicago.[1] Located in West Town, Chicago, mHUB is a co-working community of product designers and developers, entrepreneurs, engineers and manufacturers, a network of manufacturing mentors, industry experts and investors, and a source of intellectual and economic capital.[2] Since 2017, mHUB has supported over 350 startups, developed 900 products and attracted over $320 million in investments.[3] mHUB offers membership options for early-stage entrepreneurs and established enterprises. All members have access to mentorship, community events, affiliate discounts and classes.[4]
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Facility[edit]
mHUB's facility is in the former Motorola Mobility (a Lenovo company) prototyping and testing lab, which covers 63,000 square feet and is home to over 10 labs for prototyping and manufacturing.[4][5] Labs include: 3D Printer Lab, Cold Metals Lab, Electronics Lab, Finishing Lab, Hot Metals Lab, Laser Cutting Lab, Plastics Lab, Testing Lab, Textiles Lab, Water Work Lab, and Woodworking Lab. There is more than $2.5 million of equipment for members of the community.[2] mHUB has over 5,000 square feet of event space where it organizes and hosts more than 300 events a year.[6]
Partners[edit]
mHUB's founding partner is Marmon, and its leading partners are: Arrow Electronics, Chamberlain Group, Chase, The U.S. Economic Development Administration, GE, Kirkland & Ellis, UL and World Business Chicago.[7]
Founding[edit]
Catalyze, a coworking hub, World Business Chicago, and Mayor Rahm Emanuel kickstarted mHUB in early 2017[4] after a meeting between Emanuel and manufacturers determined that an incubator was necessary to drive manufacturing talent in the region.[8] The non-profit 501(c)(3) organization opened on March 2, 2017 and was co-founded by Haven Allen, CEO, and Bill Fienup, Director of Innovation Services.[2][9] Mayor Rahm Emanuel called the project 'the final piece of the manufacturing puzzle'.[1][10]
mHUB Accelerated Incubation [edit]
mHUB Accelerated Incubation is a six-month, hands-on startup accelerator focused on the product development and commercialization of early-stage, high-potential hardtech startups.[11] The mHUB accelerator will focus on six cohort groups in the following industries: Industrial Internet of Things (IIoT), medical devices, connected buildings and home, communication technologies, smart cities, smart mobility and energy technology.[11][12] The first cohort focused on IIoT technologies, supported by corporate partners AVNET and Panduit, began in 2021.[12]
mHUB Product Impact Fund I[edit]
mHUB’s Product Impact Fund I is a $15M venture fund that will invest in 60 early-stage physical product and hardtech ventures with deployment from 2020 To 2023.[13] The Fund supports cohorts of the mHUB accelerator program and will make seed-stage investments of $75,000 cash and $56,750 in product development, resources and programming for 5% equity with pro rata rights.[14][15]
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References[edit]
- ^ ab'The Making of mHUB: A WBC Fellowship Story'. World Business Chicago. 28 February 2017. Retrieved 2017-09-26.
- ^ abcGraham, Meg (2 March 2017). 'Sparks fly as new manufacturing innovation space mHUB opens'. The Chicago Tribune. Retrieved 2017-09-26.
- ^Wilkins, Pete. 'Industry 4.0 Will Help Fuel Economy Post Election'. Forbes. Retrieved 2021-02-02.
- ^ abcHustad, Karis (9 August 2016). 'mHUB, a New Center for Manufacturing Innovation, to Open on Chicago's West Side'. ChicagoInno. AmericanInno. Retrieved 2017-09-26.
- ^Marotti, Ally (10 August 2016). 'Chicago and Catalyze launch mHUB, a new home for upstart manufacturers'. The Chicago Tribune. Retrieved 10 November 2017.
- ^'Chicago's Meeting and Event Planning Guide'. Crain's Chicago Business. 2020-01-31. Retrieved 2021-02-02.
- ^'Inside mHUB, Chicago's Newest Manufacturing Incubator - Illinois Science & Technology Coalition'. Illinois Science & Technology Coalition. February 27, 2017. Retrieved 2017-09-26.
- ^Ginocchio, Don (11 August 2017). 'Chicago 'Innovation Doctor is In' Event at MHUB Chicago'. SAP. Retrieved 10 November 2017.
- ^'40 Under 40 2018: Haven Allen and Bill Fienup - Crain's Chicago Business'. www.chicagobusiness.com. Retrieved 2021-02-02.
- ^'Newsviews: Business incubator mHUB'. ABC 7 Chicago. American Broadcasting Company. 14 August 2016. Retrieved 10 November 2017.
- ^ ab'mHUB launches accelerator and resources for U.S. hardtech startups'. www.bizjournals.com. 2020-09-20. Retrieved 2021-02-02.
- ^ abWilkins, Pete. 'Industry 4.0 Will Help Fuel Economy Post Election'. Forbes. Retrieved 2021-02-02.
- ^'Chicago's mHUB raises $5 million to build an inclusive 'hardtech' ecosystem'. Impact Alpha. 2020-11-12. Retrieved 2021-02-02.
- ^'Sam Zell invests in manufacturing incubator's VC fund'. Crain's Chicago Business. 2020-08-27. Retrieved 2021-02-02.
- ^Jim, Dallke (2019-07-24). 'mHUB Is Raising a $15M Fund to Back Hardware Startups'. www.bizjournals.com. Retrieved 2021-02-02.
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