Alchemist Chicago

About this scheme

The Alchemist Chicago accelerator program serves as a premier launchpad for foundational and deep tech innovation, delivered through a strategic partnership between Alchemist and the Polsky Center for Entrepreneurship and Innovation. Alchemist is a globally recognized, venture-backed accelerator focused on enterprise-monetizing seed-stage ventures, providing a structured path to traction and fundraising. The Polsky Center at the University of Chicago advances innovative ideas from its ecosystem to market, supporting entrepreneurs from various backgrounds. This collaboration uniquely bridges world-class scientific research with real-world market impact, combining UChicago's deep scientific expertise with Alchemist's extensive global network and market-entry strategies, particularly valuable for deep tech commercialization.

The program provides substantial financial backing, offering participants a Rs. 4,500,000 SAFE investment upon advancing to Phase 2. This capital is crucial for deep tech startups, which often require longer development cycles. Additionally, participants receive over $1 million in partner perks from industry leaders like Microsoft, Google, and IBM, providing access to essential cloud credits, software tools, and technical support. This comprehensive resource package is tailored to accelerate the development and scaling of complex deep tech innovations. For companies selected for Phase 2, participation typically involves granting 4% equity, with flexible terms available to accommodate specific venture needs.

Participants in Phase 1 gain unparalleled access to co-working space at the University of Chicago and intensive entrepreneurial training from seasoned professors. Support for IP strategy and grant-writing is also provided, essential for protecting novel technologies and securing non-dilutive funding. Phase 1 participants benefit from direct access to the University of Chicago's student talent and the vast national laboratory ecosystem, enabling advanced R&D. Founders progressing to Phase 2 receive continued premium co-working space in San Francisco, along with crucial investor access, structured fundraising support, and curated introductions to relevant venture capitalists and strategic partners.

Key non-monetary support is a cornerstone of the program, including highly individualized mentorship from experienced Alchemist Partners, university professors, and specialized sector experts. The program also provides access to a powerful global network, comprehensive commercialization guidance to navigate complex markets, and a lifetime global community membership for Phase 2 participants. This fosters lasting connections and market access, vital for the long-term success of deep tech ventures. Quantum startups are particularly encouraged to apply to leverage the program's specialized expertise.

Who can apply

• Startups must be at the pre-seed or seed-stage, as the program is structured for early-stage deep tech companies.
• Focus must be on deep tech innovations, covering areas like AI, quantum computing, biotech, and other frontier technologies.
• Founding teams must be technical and comprise at least two co-founders, demonstrating the capability for complex R&D and robust leadership.
• Founders must be able to attend Phase 1 of the program in-person in Chicago, essential for direct engagement with university resources and mentors.
• Founders must also attend Phase 2, including two retreats, in San Francisco, critical for accessing Silicon Valley's investor network.
• Global founders are welcome, provided they can obtain appropriate visas and are fluent in English, ensuring seamless participation.

Benefits & funding

• Participants receive a Rs.
• 4,500,000 SAFE investment (4% equity for Phase 2), plus over $1M in cloud credits/perks from partners like Microsoft, Google.
• Benefits include co-working space (Chicago/SF), intensive entrepreneurial training, IP strategy, grant-writing support, and access to UChicago's talent/labs.
• Phase 2 offers investor access, fundraising support, mentorship, a global network, commercialization guidance, and lifetime community membership.

Frequently asked questions