mHub Chicago is an award-winning startup business ecosytem for manufacturing . Its goal to help ensure that the manufacturing industry which has been so important in Illinois and the Midwest over the years continues to accelerate, grow and thrive. Although it's a nonprofit, it probably best is described as a public-private partnership, funded with both public money and corporate sponsorships.
Melissa Lederer, Chief Experience Officer at mHub, joined The Savvy Entrepreneur show recently to talk about the mHub community and some of its programs and accomplishments.
The mHub community includes over 350 active and alumni startups, supported by a deep talent pool of product designers and developers, entrepreneurs, engineers and manufacturers and a host of other experts designed to help support commercialization of new manufacturing related businesses, resulting in intellectual property growth, along with revenue and job creation
Since launching in 2017, it has helped companies launch more than 1200 products new products, hired more than 2100 employees, and raised nearly 702 million in capital. mHub's close partnerships with area manufacturing companies offers more rapid go-to-market opportunities, real-time mentoring and feedback, and expedited exit strategies to its member startup companies.
It has also recently branched out to create a formal accelerator program, offering startup seed funding to innovative manufacturing startups in exchange for equity. The new offering has attracted startups not only from the Midwest, but from across the U.S. and internationally as well.
The mHub community is thriving and vibrant, and Melissa shares some of the ecosytem's successes. Having seen lots of companies come through the program and drawing upon her past experience with 1871 and Matter in Chicago, she offers some advice to help startup businesses increase their chances of success.
It's a great listen — Melissa's enthusiasm for mHub and what they are doing there shines through! Click on the arrow to the left to listen. Or, go here if you'd prefer to read a transcript of the show.
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