table of - mhub
TRANSCRIPT
mHUB 2018 ANNUAL REPORT
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TABLE OF CONTENTS
Mission Statement
Letter from mHUB Leadership
2018 mHUB Community Impact
mHUB's Second Year in Review
Developing Deeper Connections between Innovators, Entrepreneurs and Manufacturers Partner Successes
Member Successes
Accelerating Industry Growth
Prototyping Resources
Business Development and Training
Leveraging Talent to Spur Innovation and Lengthen Runways
Cultivating a Community of Collaboration
Community Partnerships
Diversity and Inclusion
STEM Education
Workforce Development
Developing an Entrepreneurial Ecosystem Around Physical Products
Events and Gatherings
Acknowledgments and Financials
Corporate Partners
Board of Directors
Staff
Acknowledgments
2018 Financials
MISSION
To develop an entrepreneurial
ecosystem around physical products
and hardware innovation and
accelerate industry growth by
cultivating a community of
collaboration and connectivity
between innovators, entrepreneurs,
and manufacturers.
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It has been a phenomenal second year and we are thrilled to present this annual report covering the growing impact at mHUB.
In our first year, we invested heavily in building the physical foundation of the innovation center. We transformed a former Motorola Mobility prototyping and testing lab into a vibrant community which has now grown from 30 to more than 1000 active users.
Our second year was keenly focused on deepening our support and impact for member companies, partners, and manufacturers. From business to product development, we aimed to not only provide the conditions for businesses to thrive, but to directly impact and drive member companies towards growth and scale. In 2018, we launched a 30-course curriculum to arm entrepreneurs with the fundamentals of developing both a product and sustainable business. Our mentor network grew and diversified, particularly in areas critical to later-stage businesses like marketing, human resources, and venture financing. And our shop team became more directly involved in prototyping, working with members directly on their products through Fabrication Services which saw an 83 percent increase over our first year.
Even with these resources readily available, financing remains the number one need for physical technology and manufacturing startups. This is evident both within our community and amongst the broader product development ecosystem, with software investment outpacing hardware at 15 to 1 in early-stage investing. We realize that in order to truly drive this industry forward and position the Midwest to lead the fourth industrial revolution, we need to turn our attention to directly driving investment for product-based startups. And mHUB is uniquely positioned to drive the effort. That’s why in March of 2018, we convened leading angel, VC, and institutional investors to discuss how to accelerate momentum in product investing. The group identified three priorities: educate and engage the wider investment community about opportunities in the Midwest, capacitate early stage innovation through dynamic programming and mentorship, and increase the capacity and availability of seed-stage funding for product-based businesses.
We’re making progress and by 2020, we will launch the first cohort of mHUB’s Accelerated Incubation program which will ultimately bring 60 high-growth product-based startups to Chicago for a demand-driven incubation program over 3.5 years. The program will help propel the Midwest to the national stage in industry 4.0 and drive talent, activity, and growth in the regional economy.
With the ongoing support of the growing community, we have been able to accomplish so much in just two years, and the momentum won’t stop here. mHUB grows hungrier with each new member, partner, and supporter. We look forward to strengthening the resources and impact potential with all of you.
Thank you for your continued support of mHUB and its mission. Together, we will drive the Midwest forward to lead the next industrial revolution.
Best,
Haven Allen Michael SeedmanCEO and Co-Founder Chairman of the Board of Directors
Haven AllenChief Executive Officer and Co-Founder mHUB
Michael SeedmanChairman of the Board mHUB
Dear Friends and Supporters,
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422 Employees Hired
42 Patents Awarded
413 Products Launched
2018 mHUB Community Impact
Domestic
78.6%International
21.4%Illinois Supply Chain
67%
MANUFACTURING PRODUCTION
$29,020,125Revenue Generated
$39,383,001Capital Invested
FINANCIAL SUMMARY
50,000 VISITORS
4
Mechanical Engineering 19 %
Computer Science6%
Computer Engineering4%
Business Administration18%
Liberal Arts5%
Engineering - Other4%
Art / Design / Industrial Design13%
Other Disciplines(< 3% of Membership Each)
Marketing / Communications5%
Electrical Engineering8%
Social Sciences4%
MEMBER COMPOSITION BY DISCIPLINE
0 10 20 30 40 50
Discovery 44%
Delivery 26%
Growth 30%
COMPANY STAGE
TECH CONCENTRATION BY CLUSTER
Smart Cities / Infrastructure
Medical / Health Technologies
Software
Consumer Products
Smart Home / Building
Aerospace
Wearables
Automotive / Transportation / AV
Communication Devices
Energy / CleantechToy / Games/ Fitness
CybersecurityAugmented / Virtual Reality
63
23Internet of Things / IIoT 25
2118
1816
14121111
98443
TOTAL: 260
Space Technologies
Agriculture
0%
5%
10%
15%
20%
<1years
1-2 2-3 3-4 5-7 8-10 11-15 >15
EXPERIENCE LEVEL
260COMPANIES
1,000PEOPLE
1SPACE
CURRENT AND ALUMNI SUMMARY
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mHUB's Second Year in Review
mHUB 1-Year Anniversary celebration brings 1,000+ from across the ecosystem
March 2018
Federal Reserve Bank Chairman Jerome H. Powell visits mHUB during his first
U.S. tour after taking office
April 2018
mHUB receives $150K American Inventions Made (AIM) Onshore Prize from the U.S. Department of Energy to support manufacturing and commercialization of energy-related technologies
June 2018
mHUB hosts Industry Disruptors with Chris Gladwin, founder of Ocient and Cleversafe,
moderated by David Weinstein, founder and CEO of Freshwater Advisors
June 2018
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mHUB announces member companies have surpassed $100M in combined funding
December 2018
mHUB launches Women in Manufacturing and Engineering Day, in partnership with Women in
Manufacturing, Northwestern University, and NSE, to celebrate women in the field and inspire young
women to consider careers in STEM
October 2018
mHUB 2-Year Anniversary celebration (our product showcase and demo day) includes Governor
Pritzker, outgoing Mayor Emanuel, and keynote speaker Sam Zell along with more than
1,500 attendees
March 2019
mHUB and DMDII (now MxD) host the 2nd annual Fourth Revolution Awards gala with over 350 manufacturing and innovation leaders
October 2018
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Developing Deeper Connections between Innovators, Entrepreneurs and Manufacturers Member and partner successes
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34 CORPORATE PARTNERS
262 MEMBERCOMPANIES
1000 USERS
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mHUB PARTNER SUCCESSES
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BUILDING A DEMAND-DRIVEN PIPELINE OF STARTUPS AND TALENTLeading partner The Chamberlain Group utilizes mHUB to support its corporate entrepreneurship programs, to drive awareness of emerging startup technologies and strategies, and as a source of opportunities for collaboration and investment. In 2018, The Chamberlain Group leaders regularly mentored entrepreneurs in product safety, certification, and packaging design. The Chamberlain Group garages in the prototyping labs also have enabled many physical product startups to launch their businesses in a shop environment.
“mHUB has been a great resource for our global innovation initiatives at The Chamberlain Group. The
team at mHUB has been great to work with. ” - Mark Karasek, Executive Vice President of
Engineering & Chief Technology Officer
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DEEPENING MARKET ACCESS AND EXPOSUREAs a sponsor of the mHUB 3D Printing Lab, Fisher Unitech, provides Stratasys machines, 3D printing services and industry expertise to help hundreds of entrepreneurs develop products and innovate faster. Through mHUB Product Development, mHUB uses Stratasys equipment to develop prototypes for large manufacturers which has increased exposure and driven sales for Fisher Unitech.
“Our partnership with mHUB has provided a way for Fisher Unitech to tap into the next generation of engineering technologists. Visibility and access to our additive manufacturing solutions have allowed us to strengthen relationships with local industry and fortify our ties within the Illinois manufacturing community.”- Danny Levy, Additive Manufacturing Engineer
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SPURRING INTRAPRENEURSHIP AND INTERNAL INNOVATIONLeading partner Molex actively engages with mHUB to support strategies to grow and develop their internal teams. The Molex Innovation Challenge exposed 40 Molex employees to mHUB entrepreneurial and prototyping resources to build internal innovation capacity. In addition, Molex donates connector kits to new members as part of their partnership.
“From having interns tour the facility to hosting the semifinal round of the Molex Innovation Challenge, mHUB exposes our employees to a diverse yet like-minded community of
individuals trying to solve problems through strategic action. This only helps us further our own intrapreneurship culture to
help affect change within Molex.” - Stanley Zee, Innovation Program Lead
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mHUB MEMBER SUCCESSES
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GUARDHATWith over 4,000 lives lost on the job in the U.S. annually and $250+ billion in safety costs for U.S. businesses, Guardhat is disrupting the costly job safety market with wearable technology and proprietary software to alert and help prevent hazardous industrial work-related incidents.
Guardhat, founded in Detroit, Michigan, moved its engineering team to mHUB in June 2018 to utilize the in-house prototyping equipment and engage with its diverse product innovation ecosystem. Guardhat discovered that mHUB significantly reduced barriers to entry for its products through the ability to prototype, iterate, and quickly test.
In September 2018, the company closed a $20M Series A funding round from investors including Silicon Valley Bank, Rise of the Rest seed fund, Caterpillar Ventures, RTP Ventures and more. This investment supported strides in the development of its technology, growth of the business, and international reach.
After locating its engineering team to mHUB in 2018, Guardhat relocated its headquarters to Schaumburg, Illinois, in 2019.
Growth
IoT
Funding to date$41.9M
Employees 11-50
“It feels like mHUB has really brought down all the barriers to entry. This is why we came to Chicago. Thanks again for
building a great institution.” - Saikat Dey, CEO and Co-Founder, Guardhat
1515
Delivery
MedTech
Seed $30K
Employees 1-10
aLooOne in four women return to work just two weeks after having a baby, which forces many mothers to rely on breast pumping. At this stage, storage and preservation is imperative because unconsumed breast milk cannot be used after just one hour following bottle feeding. aLoo blocks the bacterial contamination of breast milk during bottle feeding, helping parents confidently re-use unfinished breast milk.
aLoo co-founders began at mHUB in September 2018 looking for the tools to bring their vision to life and the network to commercialize it. The company has found tremendous value through mHUB’s mentorship program by connecting with industry experts for guidance on fundraising, business strategy, marketing, and sales. aLoo also won second place during the mHUB Venture Challenge, taking home $5,000 in non-dilutive cash.
While aLoo now sells its backwash prevention technology online, the company is also focused on securing a U.S. patent for its valve system. aLoo’s next goal will be scaling its supply chain.
“The mentors [at mHUB] are readily accessible and helpful. So far, the feedback we have received has been valuable.” – Aarti Mehta, MD, and Kapil Kalokhe, Co-Founders, aLoo
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AMBER AGRICULTUREAmber Agriculture is on the front lines of automation technology development in agriculture. The company’s industry-first, wireless sensors power practical decision-making recommendations for farmers, enabling them to manage and protect grain assets and capture high market prices.
Following graduation from the HAX accelerator in San Francisco, Amber needed a network to commercialize its product. Amber joined mHUB in 2017 and has heavily utilized the 3D printing lab, electronics lab, and others to develop prototypes of its device. Amber also takes advantage of mHUB shop expertise through Shop Fabrication Services, outsourcing the production of new prototypes while focusing on growing the business function and raising awareness of the company’s innovative technology.
Amber is now dedicated to growing its customer base by educating the agriculture industry on the function and value of its grain asset management technology.
“There aren’t many spaces in the world that have what mHUB does. There are a lot of hardware maker spaces, but mHUB is
focused on building hardware businesses.”– Joseph Varikooty, Co-Founder, Amber Agriculture
AgricultureTech
Growth
Venture$3.9M
Employees 1-10
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WINSTON PRIVACYFrom hidden mics in home security devices, to private information being sold by companies founded to protect internet users, our personal information is being shared publicly without our knowledge. Winston Privacy was established with a clear mission: to help internet users take back control over their personal information.
Winston Privacy began at mHUB as an idea in October 2017 and has since grown to a successful, commercialized business. The company turned to mHUB’s vast network of professionals with deep expertise in hardware technology for advice, direction, and partnership. As Winston Privacy continues to grow, the company’s engagement at mHUB has also proven to be a powerful recruiting tool for new talent.
Delivery
IoT
“Hardware is harder than software. With a focus on hardware technology, I’ve leaned on mHUB’s community of professionals who’ve had experience in hardware for advice and direction.” – Richard Stokes, CEO and Founder, Winston Privacy
Employees 11-50
Seed$2M
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SURGICAL INNOVATION ASSOCIATESCurrent methods of soft tissue support in cosmetic and reconstructive surgery often use costly sheets of human or animal-derived tissue that are known to increase complications and carry potential for disease transmission. mHUB member Surgical Innovation Associates (SIA) is focused on bringing better outcomes to patients and lowering cost through innovation in reconstructive and cosmetic surgery. SIA’s core team has clinical, operational and marketing expertise, but limited experience in mechanical engineering or prototyping. SIA leveraged mHUB’s community of professionals with diverse backgrounds for support in the early prototyping of the company’s leading pipeline device, the InStent Lift™ System. SIA is now focused on closing a funding round that will help the company continue developing tools and devices to bring innovation to reconstructive and cosmetic surgery.
Delivery
MedTech
“mHUB provided a critical bridge from a truly nascent stage to our current commercial stage, functioning as both an affordable early home
and a network of human capital to tap at a time when we had a small team, diverse/changing needs, and few resources.”
– Alexei Mlodinow, Founding CEO, SIA
Venture$2.4M
Employees 1-10
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Accelerating Industry GrowthReducing the barriers to commercialization for product-based businesses with robust resources
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2528 ATTENDEES OF CLASSES, WORKSHOPS AND 1-1 INSTRUCTION
83% INCREASE IN TECHNICAL TRAINING PARTICIPANTS
83 TOTAL CLASSES EXECUTED IN 2018 WITH 852 ATTENDEES
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PROTOTYPING RESOURCES
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EQUIPMENT AND TECHNICAL TRAININGmHUB enhanced its prototyping lab capabilities in 2018 to meet the needs of a quickly growing and diversifying member base. Lab staff training scaled and shifted, with an 83% increase in member participation in both training and help sessions with mHUB lab staff. To meet the increasing need for prototyping support, mHUB launched Fabrication Services as an on-demand offering to members. Through Fabrication Services, members can use mHUB prototyping technicians for CAD/CAM designs, modeling, 3D printing, CNC machining, injection molding, woodwork, welding and any other capability offered in mHUB’s prototyping labs.
417 MEMBERS SOUGHT STAFF SUPPORT
83% INCREASE IN TRAINING PARTICIPANTS
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BUSINESS DEVELOPMENT AND TRAINING
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CURRICULUM AND MENTOR PROGRAMmHUB’s business development curriculum and resources are designed to drive startups towards growth and scale by providing expertise and guidance at every stage. In June 2018, mHUB’s curriculum expanded to 30 courses that arm entrepreneurs with the fundamentals of developing both a product and a scaleable business. Mentorship also increased in diversity to include deeper expertise areas critical to later-stage companies such as organizational development, human resources, sales, and venture financing. The broader set of resources strengthened the tools and industry connections available to propel member businesses.
30 COURSES IN CURRICULUM
83 TOTAL CLASSES EXECUTED IN 2018 WITH 852 ATTENDEES
164 MENTOR MEETINGS
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LEVERAGING TALENT TO SPUR INNOVATION AND LENGTHEN RUNWAYS
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mHUB PRODUCT DEVELOPMENTmHUB Product Development gives partners the exclusive opportunity to tap into mHUB’s diverse and skilled talent pool for highly innovative, fast and cost-effective outsourced product development solutions. Through curated connections to projects, mHUB members received over $400,000 in income while driving the development of 14 new products, 16 process improvements, and more than 1,000 new product concepts that are positioned to deliver projected revenues of $200M for existing regional small and medium-sized manufacturers. Through brainstorms, proof of concepts and product development, SMEs deepened their engagement with mHUB by increasing their collaboration with mHUB's talented community of entrepreneurs. mHUB Product Development is enhancing the region's ability to commercialize innovation, while extending the runway for high potential startups and forging important connections between entrepreneurs and industry leaders.
16 PROCESS IMPROVEMENTS AND PRODUCTS
$200-250M IN PROJECTED REVENUE FOR CLIENTS
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Cultivating a Community of CollaborationPartnerships and initiatives to increase access and opportunities for more aspiring entrepreneurs
428
56 EVENTS GEARED TOWARDS DIVERSITY
30 STEM EVENTS REACHING 1,200 STUDENTS
208 HOURS IN WORKFORCE TRAINING
529
COMMUNITY PARTNERSHIPSIn 2018, mHUB focused on deepening its collaboration with 13 community partners in efforts aimed at providing crucial support to entrepreneurs in areas including funding, business development, business modeling, and technical training. Early results in these efforts included a partnership with the Women’s Business Development Center (WBDC) on InventIllinois, a 12-week cohort-based curriculum designed to help entrepreneurs develop the necessary materials for highly-competitive U.S. Small Business Innovation Research (SBIR), and U.S. Small Business Technology Transfer (STTR) grants.
2112 Bunker LabsBlack Women in Science and EngineeringCatapultChicago IdeasIllinois Technology AssociationMATTER
National Society of Black Engineers, ChicagoPolsky Center for Entrepreneurship
and Engineering, ChicagoSpark ShopWomen in ManufacturingWomen Tech Founders
2018 mHUB COMMUNITY PARTNERS
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DIVERSITY AND INCLUSIONFrom supporting community partners in events and initiatives, to targeted programming, mHUB is committed to increasing participation from diverse communities in physical product innovation and entrepreneurship. In 2018, mHUB hosted 25 events geared toward diversity in engineering and innovation including the launch of its annual Women in Manufacturing Day, an event convening 120 women of all ages for a day of peer mentorship, career development and pathway-building within the industry.
2018 mHUB DIVERSITY AND INCLUSION INITIATIVES
Women in Manufacturing Day brings together more than 120 participants to connect and celebrate women in the industry, and inspire young women to join STEM fields
Partnership with Black Women in Science and Engineering has allowed mHUB to collaborate on programs and events designed to support the needs of black female professionals looking to grow in the engineering field
Collaboration with National Society for Black Engineers Chicago Chapter provides members with exposure to entrepreneurial resources and supports aspiring entrepreneurs through discounted access to mHUB’s resources to get their journey started
Partnership with FWD: For Women and Diversity Inclusion Collective to present workshops and summits focused on professional inclusion, not only in tech, but also in all industries in Chicago’s community
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STEMmHUB values the impact potential of exposing the next generation of innovators to pathways in technology and nurturing curiosity in the field by hosting events and supporting STEM-based organizations. mHUB hosts monthly tours for student groups and sponsors STEM hackathons, bootcamps, and workshops. In 2018, mHUB supported 30 events that reached 1,200 students. Additionally, mHUB's resident robotics team from Ogden International High School was the only CPS school to advance to the FIRST Robotics World Championship in 2018.
mHUB STEM INITIATIVES IN 2018
CPS Internship Program: Fabrication training and internships within the mHUB Prototyping Lab
Hebocon at Museum of Science and Industry: mHUB's original "crappy robot competition" brought together builders of all ages, backgrounds, and skill levels for a fun day of building and battling robots at Museum of Science and Industry
STEM Stars: A day-long workshop for young women ages 7 – 12 and their parents to nurture curiosity in STEM
Ogden International High School Robotics Team: CPS’ only school to attend the FIRST Robotics World Championship, is housed at mHUB for practices and builds
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WORKFORCE DEVELOPMENTAs a center for innovation that's centrally located in the West Town neighborhood, mHUB is uniquely positioned to facilitate workforce development training not only in traditional manufacturing skills, but also in exposure to new manufacturing technologies such as 3D printing, electronics design and development, and advanced CNC training. mHUB provides access to 10 prototyping labs equipped with $5M worth of equipment.
WORKFORCE INITIATIVESIntroduction to CNC Operation – A 16-week certification course implemented by the Technology & Manufacturing Association supporting members of the Bethel New Life /West Side Forward Community. More than 30 people were certified in 2018
Chicago Public Schools Career and Technical Education Summer Intern Program – Support two rising senior students per summer who have declared their career path as pre-engineering or pre-manufacturing. The students support mHUB’s shop staff in fabrication and other operational projects
3D printing bootcamp with Daley Community College – With the support from Dassault Systemes, mHUB trained five Daley City College students in design for 3D printing technologies
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Developing an Entrepreneurial Ecosystem Around Physical Products Raising awareness of momentum and opportunity through marquee events
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Developing an Entrepreneurial Ecosystem Around Physical Products Raising awareness of momentum and opportunity through marquee events
9425 ATTENDEES AT EVENTS AT mHUB
276 EVENTS HELD AT mHUB
$35K IN PRE-SEED FUNDING AWARDED
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EVENTS AND GATHERINGS
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1-YEAR ANNIVERSARY CELEBRATIONmHUB’s first year saw tremendous growth and activity. To celebrate, the 1-Year Anniversary celebration brought together over 1,000 attendees from across the manufacturing ecosystem, eight panels, 45 speakers, and visits from Senator Dick Durbin, Mayor Rahm Emanuel, Lieutenant Governor Evelyn Sanguinetti, and 27th Ward Alderman Walter Burnett, Jr. “This is Chicago’s innovation garage,” declared Mayor Rahm Emanuel.
More than 1,000 community members, partners and stakeholders attended,discussing trends in manufacturing innovation and celebrating a year of success at mHUB
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FOURTH REVOLUTION AWARDSThe 2nd annual Fourth Revolution Awards by mHUB and DMDII brought together innovation and regional manufacturing leaders to celebrate as the industry stands on the brink of a new technological revolution. With more than 350 guests, the reception was a phenomenal night recognizing eight awardees who are helping drive the fourth industrial revolution. The ceremony shined a spotlight on why the Midwest has been the engine for U.S. manufacturing and will continue to lead in this next technological era.
More than 350 leaders in industry, government and innovation came together to celebrate the Midwest for its leadership in the fourth industrial revolution
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INDUSTRY DISRUPTORSmHUB’s Industry Disruptors event series features the best and brightest innovators of our time. In 2018, two leaders in technology innovation were featured: former Motorola chairman and CEO, Chris Galvin, and Chris Gladwin, founder of Ocient and Cleversafe. More than 400 entrepreneurs, manufacturing leaders, and members of industry attended Industry Disruptors events in 2018.
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More than 400 attendees joined two Industry Disruptor events with Chris Galvin, former Motorola chairman, and Chris Gladwin, Founder of Ocient and Cleversafe 39
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WOMEN IN MANUFACTURING DAYWith partners Women in Manufacturing, Northwestern University, and NSE, mHUB proudly hosted its first annual Women in Manufacturing and Engineering Day in 2018. The event connects and celebrates women in manufacturing and inspires young women interested in STEM fields to discover new career paths, in turn growing the talent pipeline of women in the industry. The event brought together more than 120 women for a half-day of activities and a keynote discussion with Megan Brewster, vice president of advanced manufacturing at Launch Forth.
Nearly 120 industry leaders and high school-aged STEM students attended to connect with peers and celebrate women in manufacturing
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EVENTURE CHALLENGEmHUB and its associate board hosted the first Venture Challenge, an mHUB-exclusive pitch competition for pre-seed, early-stage product companies. The pitch competition invited five member companies to pitch in front of their peers and the public for a chance at $35,000 in prizes. The first-place winner, PraxiCut, brought home $15,000 in non-dilutive cash, a $10,000 interdisciplinary design workshop from IA Collaborative, $5,000 of pro-bono tax and business consulting from KPMG, and a month of free membership at mHUB.
More than 100 attendees with more than $35K in pre-seed funding awarded to early stage companies PraxiCut, aLoo, and MakeExchange 41
Acknowledgments and Financials
42
Acknowledgments and Financials
43
FOUNDING PARTNERS
LEADING PARTNERS
SUPPORTING PARTNERS
MANUFACTURING AND LOCAL PARTNERS
CORPORATE PARTNERS
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MICHAEL SEEDMANChairman of the Board, mHUBExecutive Partner, Siris Capital
DOUG BOERSMAChairman, Chief Executive Officer & President, Northbrook Bank & Trust Company
JIAN CAODirector of Northwestern Initiative for Manufacturing Science and Innovation, Northwestern University
JACOB BABCOCKCEO,NuCurrent, Inc
DAVE BOULAYPresident, Illinois Manufacturing Excellence Center
KEVIN WILLERPartner,Chicago Ventures
BOB WEISSBOURDFounder, RW Ventures
ANDREA ZOPPPresident & CEO, World Business Chicago
HUGH SULLIVANChief Strategy Officer,Luum
MARK TEBBEChairman,ChicagoNEXT, Associate Professor, University of Chicago
EDWARD COLEMANPresident & CEO,West Side Forward
CARALYNN COLLENSChairman, Board of Directors,MxD
BOB CARLSON Director Rice Campus & Dean, School of Applied Technology, Illinois Institute of Technology
ZACH KAPLAN Founder & CEO, Inventables
MARK KARASEK Executive Vice President Engineering and Chief Technology Officer, The Chamberlain Group
TOM SIMEONEPresident,Manor Tool & Manufacturing
ROGER SHORESChief Executive Officer, Life 4.0
PATRICIA MILLER Chief Executive Officer,Matrix 4
MEREDITH O'CONNORInternational Director, Co-Chairman of Headquarters Practice Group, JLL
JEFFREY MARGOLISFounder & President,Innovation Strategies Inc.
STEVE KASEManaging Director,ASK Power
KAREN KERRManaging Director,Agile Equities
STEVEN KOCHCo-Executive Chairman, Motivate
USHMA KRIPLANIActing Director, Argonne National Laboratory
JEFF MALEHORNSenior Advisor,World Business Chicago
BOARD OF DIRECTORS
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ALEXANDER ZIRLINMembership Development
Coordinator
CHRISTINA WOLLNEYEvents Coordinator
JOHN WELINShop Manager
JHANELLE SMITHMembership Development
Coordinator
JEREMY BORCHARDTMembership Development
Specialist
QUINN CAMPBELLPrototyping Technician
HAVEN ALLEN Chief Executive Officer and
Co-Founder
KATHERINE CROSBY Membership Development
Coordinator
PAVITRA RAMACHANDRANCorporate Partnerships
Associate
DAVID MIRKHAEFShop Engineer
ADAM MILICHBuilding/Facilities Manager
MANAS MEHANDRUChief Operating Officer
AMIR DURAKOVIC Marketing Coordinator
BILL FIENUPDirector of Innovation Services
and Co-Founder
SHARON HARRISON Controller
KATIE KOSKOCorporate Partnerships Leader
SHANNON MCGHEEDirector of Marketing
CYNTHIA MACIASDirector of Programs and
Engagement
MELISSA LEDERERChief Experience Officer
ALEX LAMBERTCorporate Development
Coordinator
STAFF
46
ACKNOWLEDGEMENTS 3Degrees3DHubs 3S Advisory GroupAccenture Industry
X.0 ForgeAiwaaLooAnalog Airwaves LLCAnalog Life LLCArgonne National
LaboratoryArrow ElectronicsArtikel StudioAstroGlu, LLCAxial CaseBathtub GenieBevziBeyond DesignBit SpaceBoat and SunshineBonbowlBooster BoxBotsenseiBow Tied WoodBrewBike LLCBRIGHT PEI
CONSULTING LLCBriteseed, Inc.Building Brown
WorkshopBunker LabsCADcraft LLCCarbon Negative
TechnologiesCareBand
Cast21Catch Co.CDJ TechnologiesChamberlainChipKickColcaComcast BusinessConcept Innovations
GroupConcept2Creation Inc.Cre8tive Capital CriticalM.ioCrucial DetailCybrid SystemsDecisivePoint LLCDeft DesignDegree SixDesign Experience LabDeviceDev Consulting ,Inc.DFM ToolworksDieCast StudiosDigital Springboard LLC/
Artisan ImagesDLT Inc.dotUPDurable Med TechEbco Inc.Edmonds Energy SolutionsEnlighten Enterprises Inc.Ergo ImpactEveryday Engineering LLCExcelitas Fastway EngineeringFIESTA POP STUDIOFisher Unitech
Focused LabsFreedman SeatingG Innovation LLCGamerPro GlobalGEGet It MadeG-Fast Distribution IncGhost Lab DesignGKN Walterscheid Inc.GoFli LLCGood ProtoGraceful Works Greenlight PlanetHallsten InnovationsHank IndustriesHarvest2oHire AbbyHopFrog WoodWorksHoward Radio
CompanyIllinois Institute of
TechnologyiMagine-it-TechImagirooImpossible ObjectsInbox3DINNOPSYSInnova EVIntuiTap Medical, Inc.InventablesIvy DesignJ M Tagler IncJLLJMI-USAJolted Thoughts LLC
Julio Mocellin BernardiJust E SkincareKeeping It Covered LLC.KeetKrueck Sexton
ArchitectsLifeBotLifeMotion Technologies LLCLimitless StudiosLineShiftLittelfuseLoring Human Factors Luft Studio Inc.Luna LightsLux EnterprisesThe Marmon GroupMcPond IncMechanical Design LabsMeridian MappingMesodyneMetabolizeMiguel Angel Flores
CaballeroMK Brody & Co. Inc.Modern SproutModobag IncMolexMonos Menos ManosMotion DynamicsNatl Society of Black
EngineersNemik Consulting IncNeopendaNomen Home
NoMo DiagnosticsNorthwestern
UniversityNuCurrentOgden RoboticsOPS SolutionsOrbital TransportsPDQ Mazoo, LLCPedalCellPepperPGH Industries Ltd.Pillar TechnologyPowermatic
TechnologiesPraxiCutPrince CastleProxfinityPulsarLabsQuasar DesignRATIO ArchitectsRatio DesignrelaxpackRetPortRichard YordeRIGHT MTRLSSER Studios ServerCentral
Turing Groupsetlurs.comShaped Solutions IncSheehan Nagle
HartraySignature BankSkate KastleSmdp
SnapClipsSNH ArchitectsStartchy IncSteel CroissantSteele KerstenStride-360Studio GangSurgical Innovation
AssociatesSymGymSynergeo Domessystem5 llcTheMakerMom.comToastTrice ImagingTroquerTWINdow, LLCUniversity of Illinois
at ChicagoULUnChairUnited ConveyorUPSUptakeUrban RiversVerena SolutionsVision AquaticsWinston PrivacyWintrustWRIGO, COMFiZenblenZerv IncZong LiuZulu product
development
mHUB MEMBER COMPANIES
EDUCATION PARTNERS ASSOCIATE VENTURE BOARDParissa Behnia, Sixsense Strategy
Briana Beligio, DLA PiperDarcy Bonner, IngeniousIODaniela Bozlmann, Minfull GoodsDeb Brown, BOSCHMary Burton, ULJohn Busch, COHESIONDemetrio Cardona-Maguigad,
Limered StudioDavid Cohen, LinkedInSusan Dawson, WPD LegalPatrick Donohue, Snap OnTom DeSilva, Chamberlain GroupSteve Farsht, Corazon CapitalHeather Harper, Startup Legal ShopTroy Henikoff, MATH VenturesHighland SolutionsMichael Infanger, Verena SolutionsDavid Kelbaugh, Tacklebox LLCScott Kitun, TechnoriShilpi Kumar, Khoj LabJarrod Lowery, DoTank Paul Luna, The Kellogg CompanyJorge Mascort, Chamberlain
Jim Arvin, EYMichael Boshardy, GoHealthJohn Busch, CohesionIBKatie Cangemi, BlueCross BlueShieldNicole Chick, InvenergyMichael Donnelly, ElevateSamual Kim, Nixon PeabodyDave Krawczyk, BMWNeil Kumar, OcientDerrick Mitchell, FacebookDrew Osika, MB FinancialBrian Pekron, InvenergyRene Poellinetz, Beam SuntoryMichael Welton, KnaufLuke Westra, IA Collaborative Ryan Whitebloom, Allstate
Jeff Meunier, SRAM LLCJoel Paglione, Sears Holding CompanyJeff Paykin, AccentureJavier Placencia, WintrustKirsten Ramos, Elevate Performance
SolutionsJason Rebello, Women's Business
Development CenterClarissa Redwine, KickstarterNik Rokop, Illinois Institute of
TechnologyFrank Scopacasa, VerifoneSona Shah, NeopendaEli Share, BOSCHJim Shaw, Fastway Engineering Jim Ticknor, NuCurrentScott Weingust, STOUTMichael Welton, Knauf DigitalMark Werwath, Northwestern
UniversityMaureen Wozniak, Better
Business Bureau
47
2018
2017
2018 FINANCIALS
REVENUE
CAPITAL EXPENSES
0
$400K
$800K
$1.2M
$1.6M
$2M
Membership Dues and Services
$697K
$969K
$587K
$303K
$117K $108K$72K$94K
$17K
$500K
$22K
$984K
$1.84M
Partnerships and
Contributions
Product Development
Services
Event Revenue
Donations / Fundraising
FederalGrant
Other
2017 Total Revenue $2.7M
2018 Total Revenue $3.6M
48
PROGRAMEXPENSESTOTAL EXPENSES
$4.19M
CAPITAL EXPENSES
TOTAL CAPITAL EXPENSES
$96K
Construction$49K
Furniture and Shop Equipment$36.7K
Product Development Services$484K
Events$174K
General Operations$632K
Membership, Programs, and Engagement$1.71M
Marketing $334K
Prototyping Shop $854.6K
Security Systems
$11K
49
965 W. Chicago Ave.,Chicago, IL 60642
mHUBChicago.com