Chicago’s TechNexus Garners Top Innovation Honors

Less than two years after its inception, this multipurpose technology clubhouse is lodging big results.

CHICAGO--(BUSINESS WIRE)--Chicago’s technology clubhouse, TechNexus, announced today that it has been honored by the Chicago Innovation Awards as one of 2008's top 75 most innovative organizations.

“In its first month of operation TechNexus saw more than 125 technology executives passing through per week. Now, less than two years later, it’s an even greater hub of activity and home to 25 emerging technology companies, including one of the nation’s top 10 start-ups, employing over 100 people.”

The Chicago Innovation Awards recognize Chicago-area businesses and organizations that have embraced innovation by introducing products, services, processes or business models that uniquely fill unmet needs, generate a competitive response in the marketplace, exceed market expectations and achieve financial success.

“TechNexus addresses a need in the Illinois technology community for a centralized nerve center where individuals and organizations can gather for innovation and collaboration,” said Fred Hoch, President of the Illinois Technology Association (ITA) (www.illinoistech.org). “In its first month of operation TechNexus saw more than 125 technology executives passing through per week. Now, less than two years later, it’s an even greater hub of activity and home to 25 emerging technology companies, including one of the nation’s top 10 start-ups, employing over 100 people.”

Located on the 15th floor of 200 S. Wacker Dr. in downtown Chicago, TechNexus (www.chicagotechnexus.com) was developed in partnership by FastRoot (www.fastroot.com) and the ITA to serve as a “clubhouse” for the Illinois technology community. TechNexus is a 25,000 square-foot facility that offers meeting rooms, walk-in huddle rooms, virtual and temporary office space for emerging companies, as well as the opportunity to freely talk strategy and foster relationships with proven area execs. It’s an invaluable resource that Chicago’s burgeoning technology community previously lacked – and the numbers prove it.

Today, 1,000+ industry stakeholders use TechNexus each month and it is home to 25 emerging technology companies. These companies have collectively taken $24 million in venture capital to date.

"Our goal from the beginning has been to promote collaboration," said Terry Howerton, ITA’s chairman and FastRoot’s CEO. "We’re honored to receive recognition from the Chicago Innovation Awards committee. What’s truly innovative about TechNexus is its ability to instill a sense of community among the many technology firms in Illinois. That sense of community will drive Illinois to the forefront in U.S. innovation."

About the Illinois Technology Association

The Illinois Technology Association (ITA) represents the interests of a diverse membership of more than 500 companies in Illinois that create, deploy and utilize information technology as a core part of their organization. By connecting members with industry peers and participants, providing the latest strategic information, market research and critical market insight and by promoting key thought leaders to raise visibility and gain a greater market awareness and presence, ITA is focused on building and developing the Illinois technology community through collaboration. Additional information is available at www.illinoistech.org.