Northwestern will create an accelerator in downtown Evanston to support the development of faculty-led startups in health-related fields with laboratory space and resource access, the University announced Thursday. 

The project, which will be located at 1801 Maple Ave., has already secured at least $75 million in funding for research and business development, $50 million of which will come from the Illinois General Assembly in its 2022 budget. Kimberly Querrey, chair of the Innovation and Entrepreneurship Committee of NU’s Board of Trustees, also put forth a $25 million donation to the accelerator, which will be named in her honor. 

The existing location will be renovated to include both laboratory and office space, providing opportunities for further research and entrepreneurial efforts — both of which have been highly prioritized by the University, resulting in global recognition. According to the University release, it will also create chances for economic growth for the Evanston and Chicago communities.

“This effort will expand on Northwestern’s rich tradition of innovation and entrepreneurship by providing researchers with a launching pad for new ventures,” Querrey said in the release. “This space will benefit the entire University community, the local community and beyond, and it is extremely exciting to see it take shape.”

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