We launched TechRise nearly four years ago with the goal of catalyzing $50M in follow on funding to Chicagoland founders by 2025. As of October 2024, our community of founders has raised a remarkable $193M since pitching on TechRise and has created 1140 new jobs in under four years, driving additional economic growth across our city.
Here’s the impact TechRise to-date:
Every TechRise competition catalyzes $1.9M in follow-on funding, approximately 76X the prize funds granted. Thank you to the Chicago community for your continued support. We appreciate anything you can give!
Little Village/Pilsen Competition 2024
North Lawndale Competition 2024
About TechRise
TechRise by P33 and Verizon is a multi-stakeholder initiative designed to support Chicago’s tech founders throughout the lifecycles of their businesses, from idea stage to exit. In partnership with the city’s incubators, venture capital firms, the startup community, civic organizations, and corporate sponsors, TechRise is bringing together the capital, networks, and knowledge founders need to launch and grow their businesses.
The Opportunity
At TechRise, we recognize that entrepreneurial innovation is universal, but access to the capital, networks, and knowledge needed to grow and scale a startup is not.
The impact of underinvesting in tech founders ripples across our economy and innovation ecosystem, stifling wealth equality and economic mobility, limiting the tech workforce pipeline and job growth in our city, and squandering our ability to retain and recruit top tech talent.
One of the most crucial opportunities to drive economic mobility as our global technology economy continues growing is by supporting early-stage founders at the friends and family round to get their startups on track for growth and scale. Tech founders face larger barriers to entry because they often lack:
Sufficient personal or network wealth for a traditional “friends and family” round of funding.
A network of peers or mentors to help guide them through the startup process.
Access to affordable service providers.
Pathways to angel or venture capital investors.
The Solution
TechRise, with the support of our partners, is tackling this challenge with the following programs:
TechRise $5M Pre-Seed Non-Dilutive Grant Fund: TechRise is partnering with sponsors to fund a series of weekly pitch competitions that provide $25K-$50K launch grants to tech founders. Essentially making Chicago their “friends and family,” the competitions simultaneously bring visibility to early-stage founders, create network connections with existing founders and incubators, and help establish new pattern recognition for our venture community. Partners include 1871, GET Cities, mHub, World Business Chicago, and more.
TechRise Community: The TechRise community provides workshops, online resources, events, and investor introductions for founders at every stage.
Feel free to email us at [email protected]
1234 W Fulton Market
Chicago, IL 60607
Join our Slack Channel
#TechRiseChicago
