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Illinois Innovation Accelerator

The Illinois Innovation Accelerator Fund today will launch as a for-profit VC fund managed by the Chicagoland Entrepreneurial Center, a nonprofit affiliate of the Chicagoland Chamber of Commerce. It will provide seed capital to Chicago-area entrepreneurs, and already has secured $6.4 million in capital commitments (including $1 million from the Illinois Department of Commerce). It plans to close on a total of $10 million later this year.