#United States #Chicago #Rockefeller Foundation #mHUB #HardTech Innovation

A New Era for HardTech Innovation

In a significant move towards enhancing the U.S. economy, the Rockefeller Foundation has granted mHUB, the nation’s leading independent hardtech innovation center, a two-year funding plan of $1 million. This partnership is set to lower barriers faced by hardtech entrepreneurs, paving the way for advancements in clean energy, advanced manufacturing, and overall sustainability. The collaboration not only seeks to innovate but also aims to stimulate job creation and economic opportunities throughout the United States.

Derek Kilmer, Senior Vice President of U.S. Program and Policy at The Rockefeller Foundation, expressed pride in supporting American entrepreneurs. He noted that these individuals are turning groundbreaking ideas into cutting-edge solutions to address rising energy costs and the pressing effects of climate change. With mHUB’s previous track record of assisting over 1,100 entrepreneurs, resulting in nearly 7,000 jobs across various sectors like energy storage and clean manufacturing, this partnership promises extensive benefits.

Empowering Entrepreneurs

mHUB specializes in aiding more than 300 startups each year, helping them navigate the complex journey of commercializing fresh physical products—from medical devices to sustainable energy solutions. However, the path for hardtech companies is riddled with challenges. They often require substantial capital investment for materials, manufacturing, and aligning supply chains at initial stages, which can deter potential innovators, especially those from underserved backgrounds.

This funding from the Rockefeller Foundation is set to tackle these significant challenges, reinforcing the need for dedicated resources at every stage of innovation. The grant will fund mHUB’s Experts-in-Residence program, a pre-accelerator aimed at nurturing early-stage founders and providing critical technical assistance to those further along their entrepreneurial journey. Moreover, part of the funding will support a new cohort within mHUB’s venture-backed accelerator focusing on sustainable data center solutions, reflecting a contemporary approach aligned with industrial evolution.

A Sustainable Future

Haven Allen, co-founder and CEO of mHUB, emphasized the importance of this collaboration, stating that the future of American innovation hinges on physical technologies that are both resource-intensive and embedded in the actual economy. This partnership with the Rockefeller Foundation not only aims to ensure the economic benefits of reindustrialization are felt widely but also prioritizes sustainability and community prosperity.

The landscape of hardtech innovation is changing, and mHUB is striving to lead this transformation. By providing clear pathways from the lab to the market, they are helping forge new pathways that allow founders to successfully bring their innovations to fruition while empowering local communities.

About mHUB and the Rockefeller Foundation

mHUB is an extensive innovation platform designed to propel the commercialization of hardtech. Situated in Chicago, it combines a nurturing incubator and prototyping lab with investment avenues through mHUB Ventures, targeting to stimulate new manufacturing enterprises and bolster U.S. industry. Over the years, mHUB has collaborated with over 200 public and private partners, supporting upward of 500 startups that have generated a staggering $4.5 billion in economic activity.

The Rockefeller Foundation, with a legacy of promoting humanitarian well-being for over 113 years and an investment pool of $30 billion, champions unlikely partnerships to yield significant societal impacts. Utilizing scientific breakthroughs and innovative technologies, it continues to make bold investments across multiple sectors, including energy, health, and food security.

As mHUB and the Rockefeller Foundation join forces, they signify a promising chapter in the U.S. industrial landscape, one that aligns entrepreneurship with sustainability in a bid to reshape the nation’s future.