mHUB Announces Annual Growth of its Startup Community for the Year 2022
Over the last six years, mHUB has built a world-class incubator for established and emerging manufacturing companies, brought together a talent pool of over 600 engineers, designers, and scientists to facilitate R&D collaborations, and launched a venture fund to support 3 accelerator programs and startups from around the world.
Today, mHUB shares the growth of its member and alumni community for the year 2022.
Impact of the mHUB community for the year 2022:
Collective impact to-date of the mHUB community since its founding in 2017:
In March 2022, mHUB announced its member and alumni community had officially raised over $1B in capital since mHUB was launched in 2017. Since that time, in just one year, mHUB startups have raised an additional 500 million in capital.
By the end of 2022, mHUB companies had also generated over $1B in revenue. The momentum of mHUB companies is accelerating as the organization embarks on the next chapter of its history, with a focus on commercializing technology in areas that will impact humanity such as healthcare, energy, and smart manufacturing.
Milestones achieved by the mHUB organization in 2022:
In addition to the exceptional growth of the mHUB startup community, mHUB was busy advancing its mission, programs, and partners to ensure the future of US manufacturing and hardtech innovation is accessible, well resourced, and collaborative. Here are some of the things the organization achieved in 2022:
- mHUB Celebrated its 5-Year Anniversary
- The Catalyze Initiative raised $1.35M for equitable access programs. In 2023, Catalyze has already raised $921k, bringing total raised to 2.35M, with an additional $3.1M of grant requests submitted.
- mHUB Closed a $15M Product Impact Fund with 79 limited partners. To-date the fund has made investment in 36 hardtech startups.
- 9 Startups Completed mHUB’s 2022 MedTech Accelerator
- 8 Startups Completed mHUB’s Climate and EnergyTech Accelerator
- HardTech Development Services provided $1M in revenue to mHUB contractors working on contract research and development projects.
- mHUB Launched the Clean Tech Economy Coalition with University of Chicago
- 4k registrants engage in mHUB brand events such as Women in Manufacturing, its Community BBQ, the mHUB HardTech Summit, and Demo Day events.
- 400+ learners attend mHUB classes
In 2023, mHUB will embark on a new chapter that will establish Chicago and the greater Midwest as an epicenter of the Fourth Industrial Revolution. Follow along as the journey unfolds.
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