iBIO Institute 2015 Annual Report: ‘Go. Grow.’ First Annual Report Showcases Growth in World-Class E
Tuesday, March 22, 2016
CHICAGO -- March 22, 2016 – The iBIO Institute released today its annual report, “Go. Grow.” highlighting the organization’s achievements in fundraising for life sciences startups, education and job creation. Fueling scientific growth through community, education and innovation, since 2008 the Institute has trained over 1,000 Illinois teachers in 100 communities, influencing an estimated 86,000 Illinois students. In 2015, the Institute also supported more than 1,280 jobs, both directly and indirectly, while helping to raise a record-setting $45 million in new funding.
“The iBIO Institute is putting science to work in our community by delivering industry-led science and math programs for teachers and students to inspire the next generations of American-led innovators,” said Warren Ribley, President and CEO of the iBIO Institute. “Since launching PROPEL in 2007, the Institute has also helped more than 100 life sciences companies by providing them with specialized resources and expertise to reduce risk for investors. This past year, we saw over $45 million in new funding raised, and we are proud to announce we have kicked off 2016 with $500,000 from the Searle Funds at The Chicago Community Trust to continue our work of creating jobs and new technology ventures.”
Connecting the Classroom to the Field
The goal of EDUCATE is to fuel scientific growth through community, education and innovation with a focus on the under-served communities. In 2015, EDUCATE built new partnerships to help fund and support the expanded success of its two principal programs, TalentSparks and Stellar Girls.
TalentSparks provides intensive professional development workshops designed to help teachers explore the application of Science, Technology, Engineering and Mathematics (STEM) skills through real-world, problem-centered, hands-on learning, and connections to experts in STEM fields. Since 2008, EDUCATE has trained over 1,000 Illinois teachers, impacting an estimated 86,000 students from over 100 Illinois communities. Independent external evaluation shows participating teachers have demonstrated an impressive 13 percent increase in STEM content understanding and 22 percent gain on the Next Generation Science Standards, which was adopted by Illinois in 2014.
Over 400 girls in grades 3-8 participated in the Stellar Girls after-school program in 2015 and were introduced to “Big Ideas” in STEM fields, resulting in average gains of 16 percentage points on science content assessments based on pre- and post-unit evaluations. Funding from Astellas USA Foundation and Abbott is enabling the expansion of this program to host its first Summer STEM Girls Camp, which will allow for continued STEM exploration and help mitigate summer learning loss.
“The Stellar Girls educational science programming makes an impact on the aspirations and abilities of girls in science. It is unusual because it fills the niche for programming that nurtures the potential in girls . . . girls, who might otherwise overlook a career in science as a possibility for them,” said Kathy Konyar, Wheeling High School science teacher and Stellar Girls program lead for three middle schools. “The Stellar Girls program allows us to tailor the learning to build confidence in their abilities and the validity of their thinking. I have seen no other programs like this out there. This is it. And, it delivers.”
Moving Illinois life sciences startups forward
The PROPEL Center’s mission is to increase the number and success rates of early-stage Illinois life sciences startups. In 2015, PROPEL worked with more than 40 companies, including nine new startups. Since joining PROPEL, companies have raised over $185 million.
“As a PROPEL company since 2008, we are one of the recipients of the more than $1 million that has been awarded to startups,” said Harry Rowland, CEO of Endotronix. “We received a Milestone Award, attended the AdvaMed Conference due to its grants for three years, participated in its private workshop series and we even won the PROPEL Business Plan Competition in 2013. With our growth and the support of PROPEL, we have added 16 jobs to our community to date. Our success would not have been possible without our partnership with PROPEL.”
PROPEL companies have directly created or retained 280 jobs, and indirectly created or retained an additional 1,000 jobs. PROPEL also provides members with no cost access to critical data to obtain market research, deal flow, clinical trial data and investment details.
“Through milestone awards, investment preparation assistance and regulatory planning assistance programs, PROPEL has or will have equity in 16 PROPEL companies,” said Ribley. “This is an important model for the Institute as it will eventually help to build an evergreen funding mechanism for PROPEL which will allow for continued success.”
The 26-page 2015 Annual Report is available for download at http://www.ibiobq.org/wp-content/uploads/2016/03/2015iBIOInstReport.pdf
About iBIO Institute
The mission of the iBIO Institute is to orchestrate business leadership in delivery of world-class educational programs and job-creating new technology ventures. The Institute’s EDUCATE Center delivers science and math programs for teachers and students, thereby inspiring the next generation of innovators and helping restore America’s leadership in technology education. The Institute’s PROPEL Center increases the number and success rate of early-stage life sciences companies in Illinois. To learn more about iBIO Institute and its programs, visit www.ibioinstitute.org.
John Conrad, 312-422-1111