Innovation Vouchers Program

Illinois Science & Technology Coalition, in partnership with Illinois Department of Commerce & Economic Opportunity, launched the Innovation Vouchers Program on March 11^th, 2024. The program details, live application form, and support information can be accessed here.

Research and Development (R&D) drives the creation of new products and services and is a critical factor for economic growth. The Illinois General Assembly established the Innovation Voucher Program (20 ILCS 605/605-1060), which Governor Pritzker signed into law, incentivizing R&D collaborations between early-stage companies and higher education institutions, capitalizing on Illinois’ world-class universities and research labs to boost the competitiveness of Illinois companies.

Innovation Vouchers will provide grants for companies to engage in research projects in partnership with an Illinois institute of higher education. This will facilitate the sharing of technologies, knowledge, facilities, and equipment, and ultimately lead to the production of more Illinois-based goods and services and spur economic growth in the state.

• Company eligibility
  • Illinois-based companies with 500 or fewer total employees
  • Commit to maintain operations in Illinois for duration of project
  • Businesses that operate in key industries, including agribusiness and agtech; energy; information technology; life sciences and healthcare; manufacturing; and transportation and logistics
• Scope of eligible projects
  • R&D leading to the creation of new products and services that can be marketed by Illinois businesses
  • The partnering institution must be an Illinois-based, non-profit institution of higher education
  • Diverse geographic and economic areas, including urban, suburban, and rural areas of the State