Illinois Office of Entrepreneurship, Innovation & Technology

The Office of Entrepreneurship, Innovation & Technology (EIT) helps Illinois’ entrepreneurs, innovators, and small businesses grow by providing funding, expertise, and statewide support networks at every stage of development.

We oversee a comprehensive portfolio of programs that provide:

• Direct funding to help businesses access capital, develop new technologies, and expand operations;
• Hands-on advising and statewide support networks that strengthen competitiveness and open new markets; and
• Information and technical assistance to help businesses stay compliant and connected to key state and federal resources.

EIT provides a range of direct investments, grants, loans, and tax incentives that help Illinois businesses start, grow, and innovate.

Investments

• Illinois Innovation Venture Fund (INVENT)
  Makes direct equity investments in Illinois-based startups to attract private capital and expand access to funding for founders. INVENT strengthens Illinois’ venture ecosystem and drives innovation-based job creation.

Grants

• Illinois Innovation Vouchers Program
  Helps small businesses collaborate with Illinois universities and research institutions to develop and test new products, technologies, or processes — turning ideas into market-ready innovations.
  
• SBIR/STTR State Matching Program
  Provides matching funds to Illinois small businesses that have received federal SBIR or STTR research awards. These grants help innovators move discoveries out of the lab and into commercial markets.

Loans

• Advantage Illinois
  Expands access to financing for small businesses through loan participation and guarantee programs offered in partnership with Illinois lenders. It helps businesses secure affordable capital to grow and create jobs.
• Illinois Climate Bank Finance Loan Program
  Provides low-cost financing to support clean energy and sustainability projects statewide. This program fuels job growth, infrastructure investment, and Illinois’ clean energy transition.

Tax Incentives

• Angel Investment Credit Program
  Encourages private investment in innovative Illinois startups by offering a state income tax credit of up to 35% of the investment to qualifying investors. The program helps entrepreneurs access early capital and build momentum.
• New Markets Development Program
  Drives private investment and job creation in underserved and low-income communities through targeted tax incentives, helping strengthen local economies across Illinois.
• Local Journalism Sustainability Tax Incentive Program
  Supports local news organizations by offering incentives that help sustain journalism jobs and preserve access to community information.
• Music and Musicians Tax Credit Program
  Encourages investment in Illinois’ music industry by offering credits for recording, production, and live performance activities that support the state’s creative economy.

EIT’s statewide network of centers and accelerators provides personalized advising, training, and connections to help businesses launch, expand, and compete — all at no cost to the client.

• Illinois Small Business Development Centers (SBDCs)
  Offer no-cost, confidential advising on business planning, financial analysis, access to capital, and growth strategy. SBDCs are located statewide to help entrepreneurs at every stage of business development.
• International Trade Centers (ITCs)
  Provide market research, export guidance, and connections to trade representatives for businesses looking to enter or expand in global markets.
• APEX Accelerators
  Help businesses navigate the process of selling products or services to federal, state, and local government agencies, increasing access to contracting opportunities.
• Clean Energy Contractor Accelerators
  Provide grants, training, mentorship, resources, and access to loans to help small and diverse contractors build capacity, earn certifications, and compete for clean energy projects across Illinois.
• Clean Energy Contractor Incubators
  Offer business development support, networking, and technical guidance for early-stage clean energy companies working in renewable energy and energy efficiency.

EIT connects businesses with the resources and guidance needed to operate successfully in Illinois.

• Business Information Center (BIC)
  Serves as a central access point for Illinois businesses through a toll-free helpline and online portal offering information about licensing, registration, and available state programs.
• Small Business Environmental Assistance Program (SBEAP)
  Provides confidential, no-cost support to help small businesses understand and comply with environmental regulations while maintaining efficient operations.
• Regulatory Flexibility Program
  Works with state agencies and the business community to ensure that new rules and regulations take into account the realities faced by small businesses, helping to reduce unnecessary burdens.

EIT brings together capital, expertise, and collaboration to create a more inclusive and competitive business environment across Illinois. From early-stage innovators to established small businesses, we help turn ideas into sustainable growth.

EIT continues to build on the success of its recent initiatives that expanded the foundation for innovation and entrepreneurship across Illinois:

• Illinois Wet Lab Capital Program provided $15.4 million to eight awardees, generating nearly $90 million in total new investment to expand access to state-of-the-art lab facilities for biotechnology and life sciences startups — strengthening Illinois’ research infrastructure and accelerating high-value innovation across the state.
• Tech Incubator Enhancement Grant Program (TIEG) provided $7 million in grants that generated nearly $28 million in new investment to strengthen incubators and accelerators statewide — enhancing facilities, programs, and support for early-stage entrepreneurs.

These initiatives laid the groundwork for Illinois’ next generation of business growth — ensuring that innovation thrives in every corner of the state.

To see more about what other DCEO offices provide, please visit the Programs and Services Guide.