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CHICAGO UNVEILS TECHNOLOGY INITIATIVES
On Monday, Chicago Mayor Richard Daley announced a series of initiatives to promote technology development for the city, including an information technology incubator, formation of a Mayor’s Council of Technology Advisors, and a Civic Network to support capacity needs for Internet commerce by Chicago businesses.
The cornerstone of the Mayor’s technology initiatives, however, is the formation of the Chicago Technology Growth Fund, a $3 million venture capital fund to provide seed-stage financing in conjunction with private investors for high-tech startup firms located within Chicago. The Illinois Coalition was named to manage the fund for the city.
The Mayor’s Council of Technology Advisors will work to position Chicago as a leader in information technology (IT) by promoting the growth and retention of IT businesses, helping to meeting the growing capital needs of entrepreneurs, developing a strategy to pool technology talent in the city, and promoting access and understanding of IT throughout the city. The Council will be chaired by the Illinois Coalition chairman, Steve Mitchell.
Illinois