CHICAGO (Chambana Today) — Governor JB Pritzker and the Illinois Department of Commerce and Economic Opportunity (DCEO) announced 34 awards totaling $2.4 million through the Illinois Innovation Voucher Program, which help small businesses across the state collaborate with universities on research and development projects. An additional $2.6 million is available for the program’s third round, with awards of up to $75,000.
“The Innovation Voucher Program is enhancing research and development across key sectors, growing our economy and empowering small businesses,” said Pritzker.
Midwest Bioprocessing Center in Peoria and Phoenix Bean LLC in Chicago are the two businesses partnered with the U of I, and earned awards of $74,983.28 and $74,141.44, respectively.
Awardees in 2025 span industries including artificial intelligence, quantum technologies, health and life sciences, clean energy, food and agriculture innovation, and advanced materials. The program has grown in participation and applications, reflecting stronger alignment between academic research and private-sector innovation.
DCEO and the Illinois Science & Technology Coalition administer the program, which aims to accelerate technology development, strengthen commercialization pathways, and reinforce Illinois’ position as a national leader in research-driven innovation. Eligible Illinois-based businesses can apply for grants covering up to 75% of research engagement costs.