PROPEL to Date
In all, PROPEL has worked with over 100 companies since its launch in 2007. As of January 1, 2017, since joining PROPEL our active companies:
- Raised over $265 million in new capital, grants and loans, including $80 million in new funding during 2016 and over $45 million in 2015.
- This includes 72% from VCs and private investors, 12% from SBIR/STTR grants and only 7% from founders/management and friends/family.
- Had five exits / liquidity events, valued at over $65 million.
In addition, active PROPEL companies:
- Were awarded over $1,200,000 in grants and awards from PROPEL: for each $1 awarded by PROPEL, our companies raised $214 in new funding.
- Created/retained 280 full time and part time positions and indirectly created an additional 1,000 jobs.
- Received more than 200 issued U.S. and international patents, including 70 in 2016 alone.
- Are publicly recognized:
- PROPEL companies’ approval rate for SBIR/STTR and other grants is 36%, an increase of more than 50% since joining PROPEL and double the national average.
- In 2016 alone, PROPEL companies won or placed at 21 competitions and were featured in 22 publications/journals plus at 35 conferences.
A statistical analysis of the currently active PROPEL companies revealed:
- 35% are medical device, 28% therapeutic, 15% medical diagnostic, 13% life sciences tools, 5% ag-industrial bio, and 5% combination or other.
- 33% have university-licensed technologies, 60% have company-owned technologies, 5% combined, 3% company- or federal lab-licensed.
- 92% are Chicagoland-based companies, 8% are based outside of Chicago.
- 35% of the entrepreneurs are experienced business people, 28% are recent graduates, 20% are long-time scientists and 18% are serial entrepreneurs.
- 25% are led by women and 20% by minorities.