Incubate Illinois

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One of the top questions for every start-up and entrepreneur is, “Where am I going to get my funding?” After all, having a great product is one thing, but bringing that product to market, attracting a customer base, and growing the company to keep up with demand all require infusion of capital. Of course, there are the traditional routes, from private equity, venture capital and angel investors, as well as loans from banks and credit…
If you are an employer or other entity that is using the biometric information of your employees, customers or others, such as fingerprint or retina scans, for purposes such as timekeeping, computer login, or customer identification, you could be the target of a class action lawsuit based on Illinois’ Biometric Identification Privacy Act (“BIPA”) unless you have appropriate signed releases and a policy in place governing the storage, retention, and destruction of the biometric information.…
A cryptocurrency is a digital asset designed to work as a medium of exchange. Cryptocurrencies use techniques of cryptography – or code-breaking – to generate units of currency and then to secure transactions. Cryptocurrencies are created and managed entirely separate from the central banking system, raising questions about regulation, legality, and the potential for fraud and other abuses. The first decentralized cryptocurrency – and still the most well-known today – is Bitcoin. Many others have sprung…
For entrepreneurs and start-ups, it seems the search for capital is never finished, whether that means turning to friends and family for money or leveraging technology for crowdfunding. In Illinois, there is a significant amount of capital – about $220 million – that is available solely to Illinois businesses, particularly those in the high-tech space. As a way to promote business innovation, the Illinois government formed the Illinois Growth and Innovation Fund (ILGIF), which in…
“When’s the last time you were in a bank? Do you want to go to a bank?” This question was posed by George Vukotich, co-founder of FinTank, a fintech-focused organization that serves Chicago’s technology and start-up communities. His remarks were part of a broader panel conversation on Chicago’s booming fintech scene that took place at the 2017 Incubate Illinois Conference. “People don’t want to [go to a bank] anymore. Lifestyle has changed, and…
When it comes to venture capital investment internationally, Chicago just barely misses the top 10, coming in at number 11 according to statistics compiled by the Martin Prosperity Institute, an economic think tank that operates out of the University of Toronto’s Rotman School of Management. (The report was published in January 2016 and used data from 2012, the most recent data available on global venture capital investment at that time.) As to be expected, San…
First, for those in attendance at the second annual Incubate Illinois Conference, held on July 12, thank you. You made the event a tremendous success. We set out to develop a forum where the greatest thought leaders in Chicago’s start-up and technology communities could come together to share information, present ideas and network in order to build a brighter future for all involved, as well as the community at large. As introductory keynote speaker…
Freeborn & Peters LLP is pleased to announce the Second Annual Incubate Illinois Conference, which will be held July 12 in the mezzanine conference space at the firm’s Chicago office at 311 South Wacker Drive. While the conference will address the needs of entrepreneurs, investors and incubators across many different sectors, this year’s event will have a particular focus on financial technology – or “FinTech.” Scheduled speakers at the 2017 Incubate Illinois Conference include the…