1871 Announces 2024 Chicagoness Award Winner

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1871 Announces Chicagoness Award Winner for the 2024 Momentum Awards

 

CHICAGO – August 13, 2024 – 1871, Chicago’s hub for tech innovation, is thrilled to announce that serial tech entrepreneur Kristi Ross of U3 Coffee and formerly, tastytrade and thinkorswim, and esteemed board member of 1871, will be honored with this year’s Chicagoness Award at the 2024 Momentum Awards. As a nonprofit organization, 1871 hosts the Momentum Awards as an annual fundraiser, celebrating the innovators who are driving Chicago’s tech ecosystem forward while raising essential funds to support the growth of the city’s entrepreneurial community. Sponsor the event or give today to support our mission.

The Chicagoness Award is presented annually to an individual who exemplifies the core values of the Chicago entrepreneurial community through their commitment to civic leadership, mentorship, and innovative contributions that uplift the city’s economy and tech ecosystem. Kristi Ross embodies these values through her remarkable achievements, serving as a powerful inspiration for both seasoned entrepreneurs and emerging leaders, particularly women founders.

With over 30 years of experience in the fintech and trading industry, Kristi has been at the forefront of over 40 mergers, acquisitions, capital raises, and startups. Her latest venture, U3 Coffee, marks a significant shift from fintech to the coffee industry, driven by a mission to “Unite the World Through Coffee.” U3 Coffee focuses on uniting farmers, coffee entrepreneurs, and customers through shared stories and the numbers behind each cup, promoting learning, empowerment, and connections within the coffee ecosystem.

Kristi’s impact extends far beyond U3 Coffee. As the Co-Founder of tastytrade, she led the company, along with her Co-CEO Tom Sosnoff, through a decade of groundbreaking innovations, including the launch of the original dough trading platform and its transformation into the establishment of tastyworks, an online brokerage firm. Under her leadership, tastytrade was acquired by IG Group for over $1 billion in 2021. Throughout her career, Kristi has consistently demonstrated a passion for empowering self-directed investors, entrepreneurs, and the next generation of leaders.

As a trailblazing woman founder, Kristi has broken barriers and set new standards for what’s possible in both the fintech and entrepreneurial spaces. Her journey is a testament to the power of resilience, vision, and leadership, making her a role model for aspiring entrepreneurs everywhere, especially women looking to make their mark in the business world.

“At 1871, we celebrate the visionaries who redefine the entrepreneurial landscape of Chicago. Kristi’s leadership and innovative spirit have left an indelible impact on our community,” said Larry Eppley, Chairman of the 1871 Board. “She exemplifies the core values that our Chicagoness Award honors and embodies the essence of what makes our city’s entrepreneurial spirit so unique and powerful.”

“Kristi is a transformative force, from her trailblazing work in fintech to her current endeavors with U3 Coffee, consistently using her ventures to uplift and empower others. Her journey—from leading successful startups to shaping the next generation of Chicago’s leaders—is nothing short of inspiring,” said Betsy Ziegler, CEO of 1871. “It’s a privilege to honor Kristi, not only for her outstanding career achievements but also for the profound and lasting impact she has made on our city, and community through her unwavering dedication and leadership.”

“I started my career in Chicago over 30 years ago and this City has provided me with endless opportunity,” said Kristi. “Being part of 1871’s ecosystem exemplifies the foundational connectedness at the heart of everything tech in Chicago. I’m beyond grateful and deeply honored to be the recipient of this incredibly, esteemed award! Thank you 1871, thank you Chicago!” 

Kristi Ross will accept her award at the 17th Annual Momentum Awards on September 19, 2024, where we will also honor our members who are disrupting their industries, building up their communities, and shaping the future. Stay tuned for more information on our award finalists and be sure to reserve your ticket to join us in celebration. 

 

About 1871 

1871, a nonprofit global innovation hub, exists to inspire, equip, and support early-stage, growth-stage, late-stage, and corporate innovators in building extraordinary businesses. 1871 is home to ~500 early-stage startups, ~250 growth and late-stage companies, and ~60 corporates, and is supported by an entire community focused on accelerating their growth and creating jobs in the Chicagoland area. The member experience includes virtual and in-person access to workshops, events, mentorship, and more. The nonprofit organization has 350 mentors available to its members, alongside access to more than 200 partner corporations, universities, education programs, accelerators, venture funds, and others. Since its inception in 2012, more than 1,050+ alum companies are still active, have created over 14,700 jobs, and have raised more than $3.7 billion in follow-on capital.

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1871 Members & the public are now welcome to apply to our fall 2024 affinity offering for Latin identifying tech founders.

CHICAGO, August 6th, 2024 – Global tech innovation hub 1871 opens applications for their LTNtech Founders fall cohort, starting October 2024. In partnership with The Illinois Hispanic Chamber of Commerce, the program runs for ten weeks, combining professional development curriculum, mentorship, and peer group development to elevate Latin early-stage tech founders.

Applications will be accepted through 9.30.24. The program runs from 10.8.24 – 12.10.24, every Tuesday, from 3:00 – 5:00 PM CST. This year’s sponsors include Latinas In Tech, Techqueria, and Verizon.

LTNtech Founders, together with 1871’s complementary affinity programs, WMNtech Founders and BLKtech Founders, is designed to inspire, equip, and support underserved founders to maximize their key leadership strengths, overcome obstacles, and build relationships with experienced founders and mentors who are dedicated to supporting them. 

The program includes peer-learning and problem-solving programming, curated leadership development workshops, one-on-one coaching with a dedicated Entrepreneur-in-Residence (EIR), and a variety of community and networking events. 

This will be the 13th cohort of the LTNtech Founders program. While 1871 uses Latin for brevity, we happily welcome those who identify as Hispanic, Latino/a, Latine, Latin@, etc. All gender identities are welcome. 

 

About the experience

Key takeaways for participants in the program: 

  • Learn how to maximize their key leadership skills
  • Gain confidence in themselves and their startups 
  • Overcome obstacles one faces when starting a business
  • Build reputable relationships with experienced founders and 1871 members who are dedicated to supporting these groups. 

Important Dates

About IHCC

IHCC is a not-for-profit organization and community of business owners, entrepreneurs and professionals committed to empowering individuals by helping them start and grow their businesses. As the largest community of Hispanic business owners across Illinois and the Midwest, we represent more than 100,000 businesses. We are committed to helping entrepreneurs grow by equipping them with the tools and resources they need to be competitive in today’s economy. We do this through our community advocacy, specialized one-on-one training, networking, and our Center for Hispanic Entrepreneurship.

About 1871

1871, a nonprofit global innovation hub, exists to inspire, equip, and support early-stage, growth-stage, late-stage, and corporate innovators in building extraordinary businesses. 1871 is home to ~500 early-stage startups, ~250 growth and late-stage companies, and ~60 corporates, and is supported by an entire community focused on accelerating their growth and creating jobs in the Chicagoland area. The member experience includes virtual and in-person access to workshops, events, mentorship, and more. The nonprofit organization has 350 mentors available to its members, alongside access to more than 200 partner corporations, universities, education programs, accelerators, venture funds, and others. Since its inception in 2012, more than 1,050+ alum companies are still active, have created over 14,700 jobs, and have raised more than $3.7 billion in follow-on capital. 

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Meet the startups joining our FoodTech and Supply Chain Tracks

1871 is excited to announce the launch of our 2024 Summer Innovation Labs, featuring two cohort tracks with 52 companies in total: FoodTech Innovation Lab and Supply Chain Innovation Lab. These industry-focused labs bring together innovators from across the globe to address key challenges and drive transformation within their respective sectors. Both tracks offer a unique opportunity for startups to collaborate with corporate leaders, venture capitalists, and industry experts, fostering innovation and growth.

About the 2024 Summer Innovation Labs

The 2024 Summer Innovation Labs at 1871 are designed to accelerate the growth and impact of startups in the FoodTech and Supply Chain sectors. Over the course of four months, the selected cohort companies will engage in a series of tailored programs, workshops, and collaborative sessions aimed at addressing critical challenges and driving innovation within their respective industries.

These labs provide a unique opportunity for participants to connect with corporate leaders, venture capitalists, and industry experts, offering invaluable insights and mentorship. The structured programming is designed to foster collaboration, spark new ideas, and equip these startups with the tools they need to scale their innovations.

Public Engagement and Events
Throughout the program, a selection of Lab programming will be open to the public, offering a chance for industry professionals and enthusiasts to immerse themselves in FoodTech and Supply Chain discussions. These events will feature talks from industry experts and provide a platform for networking and knowledge exchange. Event details and RSVP information can be found here.

The Culmination: The 2024 Fall Innovation Summit
The Labs will culminate in the 2024 Fall Innovation Summit, where the cohort companies will showcase their groundbreaking solutions. This summit will feature a startup expo, pitch competitions for both tracks, and opportunities for attendees to engage directly with the innovators. Details about the summit, including how to attend, will be announced soon. Stay informed by subscribing to our updates.

For those interested in partnering with us or exploring sponsorship opportunities for the Innovation Summit, please connect with our team.

Foodtech Innovation Lab Cohort

Supported by Levy, World Business Chicago, Ex3 Labs, and Lab EIR Nate Cooper, Founder & Managing Partner of Barrel Ventures.

This cohort of 18 is dedicated to pre-seed, seed, early, growth, and late stage startups innovating within the food technology space, focusing on sustainability, supply chain efficiency, and innovative food products. 

The companies in this cohort include:

Appetronix
Appetronix.com
Nipun Sharma, CEO
Appetronix is a fully autonomous robotic restaurant that combines advanced robotics, AI, and data science to create a seamless dining experience.

Arvist
arvist.ai
Nilay Parikh, Founder and CEO
Arvist leverages AI-powered digital twins to optimize industrial operations, improving efficiency and reducing costs.

Attribute Analytics
attributeanalytics.com
Beth Kimmerle, Founder and CEO
Attribute Analytics is revolutionizing the food industry by providing deep insights into product attributes, helping companies improve quality and customer satisfaction.

Bluicity
blui.city
Dianne Myers, CEO
Bluicity specializes in providing supply chain visibility solutions that leverage IoT and blockchain technology for enhanced transparency and efficiency.

bellie 
www.drinkbellie.com
Catalina Castaneda, Co-Founder 
bellie is a prebiotic drink that uses a new super-ingredient to rebuild the microbiome, providing consumers with a tasty way to improve their gut health.

Curuba Tech
http://curuba.tech
Paula Aponte, Co-Founder and CEO
CurubaTech bridges the knowledge gap with data driven farming by connecting farmers with experts via simple and accessible platforms, allowing them to organize and digitalize the agricultural sector. we generate food traceability, improve yields and generate a social impact, making the agricultural sector fair. We are the platform that connects the agrifood chain form the seed to the supermarket aisle.

Earnest Agriculture
growearnest.com
Eddy Mejia, CEO
Earnest Agriculture creates advanced probiotic solutions for sustainable agriculture, focusing on enhancing soil health and crop productivity.

Matriark Foods
matriarkfoods.com
Anna Hammond, CEO
Matriark Foods upcycles vegetable byproducts and farm surplus into delicious, healthy ingredients and products for food service, retail, and emergency food.

Nakinoku
nakinoku.com
Tonny and Merly Thomas, Co-Founders
Through their platform, Nakinoku facilitates manufacturing of sample sized CPG food products. This allows small food brands to scale sustainably.

Nucicer
Nucicer.com/
Kathryn Cook, CEO and Co-Founder
NuCicer is revolutionizing the plant-protein industry and enabling a sustainable, nutritious future through chickpea protein. Our customized chickpea protein comes from new high-protein chickpea varieties we develop with targeted functional, nutritional, and agronomic properties.

Organic Harvest Digital
Organicharvestdigital.org
Oluwaseyi Olaleye, Founder and CEO
Organic Harvest Digital’s mission is to empower communities and nourish our planet. Our focus is on leveraging climate action and tech innovation to transform the food system, starting with the establishment of hyperlocal grocery stores.

Pleease Foods
saypleese.com
Kobi Regev, Co-Founder and CEO
Pleease® is what happens when New Yorkers ditch dairy. They make plant-based cheese that melts perfectly on pizza and in other delicious dishes.

Pureture
pureture.com
Anna Cheung, Co-Founder and CEO
Pureture creates plant-based, sustainable food packaging solutions designed to reduce waste and environmental impact.

Qilo
http://qilowatt.com
Dave Brost, Co-Founder and CEO
Qilo leverages AMI data to help utilities select the best energy solutions for their grid and pinpoint households with the greatest potential value and probability of solution adoption.

Relocalize
https://relocalize.com
Benjamin Chalier, Head of Growth
Relocalize revolutionizes the food supply chain with advanced micro-factories that produce, package, and palletize food directly at distribution centers, eliminating middle-mile logistics and reducing greenhouse gas emissions.

ShrimpIQ
https://www.getshrimpiq.com
Mrutyunjay A, Founder
ShrimpIQ uses advanced image recognition to swiftly identify imperfections—irregular sizes, discolorations, shapes, and foreign substances—eliminating manual inspections and errors. 

Tomato Bliss
tomatobliss.com
Monique Hypes, CEO and Co-Founder
Tomato Bliss is a biodiverse food company that fights climate change by growing and upcycling heirloom and specialty tomatoes to create nutrient-dense soups and sauces.

 

Supply Chain Innovation Lab Cohort

Built with Accenture. Supported by Microsoft, GS1, World Business Chicago, and Ex3 Labs.

This cohort of 34 focuses on seed, early stage, and growth companies pushing the boundaries in supply chain management, logistics, and related technologies.

 The following are the companies leading the charge:

14bis Supply Tracking
14bis.aero
Eleanor Mitch, CEO and Co-Founder
14bis is a secure data-sharing platform for complex, multi-tiered industrial supply chains, focusing on last-mile logistics. It enhances security and simplifies complexity by offering AI-driven insights, patented access and identity management, and resilience to reduce downtime. This adaptable solution integrates with existing systems, resulting in greater control, enhanced security, and reduced operating expenses for customers.

AutoMetrics
autometrics.ca
Mike Mohseni, CEO
AutoMetrics empowers manufacturers across industries with its comprehensive suite for intelligent process monitoring, giving both automated and human workers real-time feedback during fabrication, preventing defects, avoiding downtime for inspecting finished goods, and enabling full traceability for rapid response and troubleshooting.

Axya Inc.
axya.co/en/
Félix Belisle-Dockrill, CEO & Co-Founder
Axya increases the productivity of procurement teams by allowing them to focus on strategic and value-added activities. Manufacturers now have an optimized and data-driven approach for supplier relationship management, agreement negotiation, risk mitigation, and cost reduction. Axya automates low-value tasks and provides real-time insights and alerts to increase visibility on the supply chain and improve decisions.

Babelus
babelus.com
Luis Juarez, CEO
Babelus is a leading supplier data provider focused on suppliers’ offerings and technical competencies portfolio.

Calculum Inc.
calculum.ai
Eric Zager, Sales A&E
Calculum Inc. is an AI-powered Supply Chain Analytics Platform that facilitates companies to unlock Working Capital and generate billions in Free Cash Flow.

CodeData, Inc.
Makoro.ai
Sam Sur, CEO
CodeData’s mission is to use the power of artificial intelligence and advanced analytics to augment the workforce and optimize operations to increase profitability and drive sustainability. The company’s vision is to innovate for a world of smart operations, making operations competitive, creating value, and making a difference.

Custom Product Engine Software
laudividni.com
Laura Kofoid, CEO
The Custom Product Engine Software (CPES) is a woman-led SaaS company that enables consumer-oriented manufacturers and brands to efficiently leverage on-demand manufacturing to meet the increasingly individual preferences of customers of the future.

EAIGLE US Inc.
eaigle.com
Amir Hoss, CEO
EAIGLE is an end-to-end AI vision platform that enables logistics, retail, CPG, and manufacturing enterprises to operate a fully unmanned/automated gate and yard by leveraging their existing security cameras in logistics facilities.

Eyana Tech Corp (EaseworkAI)
easeworkai.com
Shiv Shankar, CEO
EaseworkAI offers a unified AI-native intelligence and automation suite designed to enhance procurement and supply chain functions, streamlining workflows and providing holistic insights.

Findings
findings.co
Kobi Freedman, CEO
Findings is a supply chain compliance automation platform, enabling to digitize, automate, and scale visibility, verification and risk mitigation for the entire regulated or sensitive supply chain.

G2RL
g2rl.com
Julie Massey, VP, Marketing & Sales
Powered by proprietary technology, G2RL minimizes costs by constantly analyzing and optimizing returns in real-time, ensuring the most cost-effective decisions across the entire returns ecosystem.

Granularity
granularity.ca
Tali Remennik, CEO
Granularity detects product trends for merchandisers and marketers using an AI-powered platform that identifies growing categories, products, and brands through social media and search indicators.

InStockRx
instockrx.com
Jeremy Froehner, CTO
InStockRx is revolutionizing pharmacy supply chains by aggregating, centralizing, and identifying surplus medications for redistribution, reducing medication waste and addressing drug shortages.

iPurvey
ipurvey.com
Abdul Isiaq, CEO
iPurvey streamlines air or rail travel and freight disruptions through an AI-driven solution, ensuring traveler well-being, sustainability, and reliability for both travelers and businesses.

KNNX Corp.
knnx.com
Pete Gowanlock, EVP – Supply Chain Solutions
KNNX Corp’s purpose is to provide Trusted & Automated Supply Chains…with Payments as simple as using your credit card….Today.

Logistify AI, Inc.
logistify.ai
Daniel Emaasit, Co-Founder & CEO
Logistify AI is the AI Assistant for Logistics and Supply Chain Managers, integrating into ERP systems to automate workflows that are manual, time-consuming, and repetitive.

Looks For Lease Inc.
looksforlease.com
Nyleve Henry, CEO / COO
Looks For Lease provides a scalable carbon-neutral Infrastructure for Rental Operations, offering solutions for managing and optimizing dynamic supply-chains within a rental infrastructure.

Mammoth
mammothcpg.com
Julia Cohen, CEO
Mammoth is an AI-powered supply chain copilot for CPG businesses, helping high-growth consumer companies get the most accurate picture of their supply chain and streamline decision-making.

Map-Collective Inc
map-collective.com
Tara Gupta, CEO
Map Collective provides a software solution for corporate and government sustainability and supply chain teams to automate transparency, sustainability metrics tracking, and procurement decisions using AI.

Mely.ai Solutions Inc.
mely.ai
Edward Ko, CEO
Mely.ai automates document processing for transportation and logistics, saving companies 80% of operating costs and improving productivity by 50% with its AI-powered solution.

Nutrād
nutrad.io
Scott Essington, Senior Vice President – Operations
Nutrād provides AI-enabled smart supply chain technology that links brands, distributors, and retailers, replacing labor-intensive tasks and creating frictionless commercial trade at scale.

OrdrSmart
ordrsmart.com
Prarthana Gupta, CEO
OrdrSmart streamlines product sampling and catalog operations, enabling manufacturers to reduce costs, manual errors, and increase revenue through an optimized platform.

Parakeet Financial
parakeetfinancial.com
Jowanza Joseph, Founder/CEO
Parakeet is a Risk and Regulatory Compliance automation platform for Industrial Companies, providing innovative solutions in manufacturing, oil & gas, and renewable energy sectors.

PartRunner
partrunner.com
Yosh Rozen, CEO
PartRunner is a logistics marketplace focused on the “big & bulky” sector, connecting companies to independent truckers for last-mile, middle-mile, and first-mile services.

Partsimony
partsimony.com
Rich Mokuolu, Co-founder & CEO
Partsimony brings harmony to parts and manufacturing supply chains, offering solutions for industries like automotive, aerospace, consumer goods, defense, and robotics.

Peelon
peelon.co
Taraka Ramji Moturu, CEO
Peelon revolutionizes the fresh produce supply chain with plant-based packaging solutions that extend shelf life, reduce waste, and eliminate the need for ice during transportation.

Qila.io
qila.io
Sid Ugrankar, Founder & CEO
Qila.io provides infrastructure on-demand service for enterprises to build, run, and manage dedicated Blockchain networks, simplifying blockchain network setup and management.

Resin
raisewithresin.com
Kelly Koskelin, CEO and Co-Founder
Resin builds modular, automated recycling stations to increase access to recycling in underserved areas, enabling community groups to fundraise by recycling.

SC Tech
sctech.io
Jeff Beyle, CEO
SC Tech offers a hardware-agnostic software system that makes advanced technologies like AI and sensors accessible to small and mid-size companies.

Statwig
statwig.com
Sid Chakravarthy, Founder & CEO
Statwig revolutionizes supply chain management with its platform Farview, using AI, IoT, and Blockchain to provide real-time tracking and end-to-end traceability.

Stroma

stroma.io
Anil Uzengi, Co-Founder & CEO
Stroma enhances safety and efficiency in manufacturing with AI-powered rugged edge processing devices and advanced computer vision models.

TradeSee
tsalemetals.com
Cezar Tondini, CEO & Founder
TradeSee simplifies the global metals market by providing commercial advantages for international traders and assisting in all stages of buying and selling metals.

Xorosoft
xorosoft.com
Yadwinder Singh, CEO
Xorosoft is a premier provider of cloud-based ERP solutions designed to streamline operations for wholesale, retail, and e-commerce businesses. Headquartered in Canada, Xorosoft prides itself on leveraging advanced technology to enhance business efficiency and drive growth. With a focus on integrating various aspects of business operations into a single platform, Xorosoft helps companies of all sizes achieve better visibility and control over their processes.

Zagitas
zagitas.com
Carlos Secada, Co-Founder & CEO
Zagitas leads in AI-driven workflow automation, enhancing supply chain and financial operations for mid-sized enterprises across North and Latin America.

About 1871

1871, a nonprofit global innovation hub, exists to inspire, equip, and support early-stage, growth-stage, late-stage, and corporate innovators in building extraordinary businesses. 1871 is home to ~500 early-stage startups, ~250 growth and late-stage companies, and ~60 corporates, and is supported by an entire community focused on accelerating their growth and creating jobs in the Chicagoland area. The member experience includes virtual and in-person access to workshops, events, mentorship, and more. The nonprofit organization has 350 mentors available to its members, alongside access to more than 200 partner corporations, universities, education programs, accelerators, venture funds, and others. Since its inception in 2012, more than 1,050+ alum companies are still active, have created over 14,700 jobs, and have raised more than $3.7 billion in follow-on capital

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Meet the 30 Finalists of 1871’s Chicago Tech Award Show

Chicago, IL – 7.31.24 – 1871, nonprofit innovation hub, is proud to announce the 30 finalists for the 17th Annual Momentum Awards, taking place on September 19, 2024. This highly anticipated event celebrates and showcases the best in technology across Chicagoland. Public voting for the finalists across six award categories is now open and will continue until August 13th, 2024. See finalist deep dive below.

Vote!

“The 2024 finalists are a shining example of the extraordinary innovation and dedication within Chicago’s tech community. These visionary leaders and pioneering companies are not only advancing their respective industries but are also creating solutions with the potential to change the world,” said Betsy Ziegler, CEO of 1871. “From groundbreaking technologies in healthcare and logistics to impactful initiatives for social change and sustainability, this year’s finalists epitomize the relentless drive and creativity that make Chicago the premier destination for building and growing a business. I am incredibly proud to witness and support this exceptional group on their journey toward making a global impact.”

Our ~100 community judges representing Chicagoland, have selected the 30 finalists from a pool of 150+ nominations received earlier this summer, creating an incredible group of founders, innovators, and businesses in the running for the 2024 Momentum Awards. Voting is open to everyone, and the results will be announced during the awards ceremony on September 19th at Morgan Manufacturing. The Momentum Awards are an integral part of 1871’s mission, serving as a key fundraiser and a celebration of community achievements. Tickets for the event are also available starting today.

2024 Momentum Awards Finalists

Outstanding Tech CEO Award

Industry Disrupter Award

Social Impact Award

Rising Star Award

Momentum Award

CityLIGHTS Award

Award & Finalists Deep Dive

Outstanding Tech CEO Award

Presented to a CEO who has successfully scaled and nurtured their company through outstanding leadership.

Dhruv Saxena
Dhruv Saxena, Co-Founder & CEO at ShipBob
Dhruv Saxena is the visionary CEO and co-founder of ShipBob, a leading global omnichannel fulfillment platform designed for small and medium-sized businesses. Under his leadership, ShipBob has transformed the logistics and supply chain industry by providing innovative, technology-driven solutions that streamline shipping and fulfillment processes for e-commerce businesses. Saxena’s strategic foresight and commitment to operational excellence have enabled ShipBob to scale rapidly, now serving over 5,000 customers through a network of 26 fulfillment centers across five countries.
Vote!

Feyi Ayodele
Feyi Ayodele, Founder & CEO at CancerIQ
In 2013, Feyi entered a world with niche companies offering breast cancer risk models, pedigree drawing, and telehealth genetic counseling, and pioneered solving the whole problem and not a partial one with CancerIQ’s end-to-end solution. Working closely with thought leaders in the field, Feyi developed a comprehensive solution that now integrates family history, genomics, behavioral data, and AI-generated risk data directly into clinical workflows. She has driven adoption of the platform across 225 diverse clinical locations and specialties to make a direct patient impact. This includes doubling the genetics workforce capacity in oncology, enhancing breast cancer risk assessment in imaging and improving overall cancer screening compliance rates — all of which benefits health systems and patients by shifting cancer diagnoses into earlier stages reducing both mortality and cost.
Vote!

Jason VandeBoom
Jason VandeBoom, Founder & CEO at ActiveCampaign
Jason VandeBoom is the Founder and CEO of ActiveCampaign. Founded in 2003, ActiveCampaign accelerates every company’s growth with the only automation platform designed for ideal customer experiences. Today, ActiveCampaign is the market leader in intelligence-driven customer experience automation with over 90,000 customers in more than 170 countries leveraging the platform to grow their businesses.
Vote!

Mark Lawrence
Mark Lawrence, Founder & CEO at SpotHero
Mark Lawrence, the founder of SpotHero, was inspired to launch his digital parking company after experiencing frustrations with parking in Chicago while working as a financial analyst at Bank of America. His difficulties with street cleaning and accumulating thousands of dollars of parking tickets led him to explore solutions to make parking easier.
Vote!

Marshall Sied
Marshall Sied, Co-Founder & CEO at Ashling Partners
Marshall Sied is the co-founder and CEO of Ashling Partners, a Chicago-based Intelligent Automation consulting firm. Marshall is an  Automation & AI optimist. He has experience in helping enterprises leverage technology to improve their business performance, and promote positive, innovative changes to their workforce. He is a big believer in creating long-term, high-value relationships with clients through an educational, consultative approach. Marshall has a successful track record of growing client relationships thru advisory, implementation and managed service capabilities.
Vote!

Industry Disrupter Award

Presented to a company that has developed an innovative product that has significantly disrupted the industry.

Aqua Cultured Foods
Aqua Cultured Foods is revolutionizing the seafood industry by creating fish-free seafood through biomass fermentation. This innovative approach not only addresses global sustainability challenges but also delivers nutritious, high-quality seafood products that meet consumer demands without compromising environmental integrity.
Vote!

Ascent Integrated Tech
Ascent Integrated Tech, founded by Paul Coulston and Alex Gorsuch, is a pioneering technology company based in Chicago. Specializing in developing advanced safety and communication solutions for first responders, Ascent’s flagship products include wearable 3D tracking technology integrated into helmets and bracelets. These devices provide real-time data on the location, health, and environmental conditions of users, offering critical support in hazardous environments. Ascent’s innovations aim to enhance safety and operational efficiency for firefighters, special forces, SWAT teams, and industrial operators.
Vote!

Qumis
Qumis – The technology behind Qumis is both cutting-edge and robust. It provides enterprise-grade data security, seamless implementation, and user-friendly interfaces. This ensures that claims teams can adopt the system effortlessly and begin reaping its benefits immediately. In an industry traditionally reliant on manual processes and siloed knowledge, Qumis stands out as a true disrupter. By addressing inefficiencies and harnessing the power of AI, Qumis redefines how insurance coverage knowledge work is conducted, paving the way for a more streamlined and effective approach to managing complex claims. Qumis embodies the values of innovation, user experience, and customer service. Our dedication to pushing the boundaries of what’s possible, coupled with a relentless focus on the needs of our users, ensures that Qumis not only meets but exceeds industry expectations. Qumis is a prime example of a company that has introduced a truly new, technology-focused concept that disrupts the status quo.
Vote!

Trajektory
Trajektory solves the burden of sponsorship reporting in a way that has never been done before. Teams today are only reporting on their digital sponsorship assets – but that’s only part of the story. With Trajektory, teams are now reporting on their LEDs, static signs, premium areas, concourse signage, email, web, mobile, radio, social, and television sponsorship data and they’re doing so in real-time back to their partners. Trajektory was built by former execs who actually worked for teams, leagues, agencies, and brands and has become the premier sponsorship analytics & revenue platform for all sponsorship reporting. Trajektory customers can track, in real-time, the performance of ALL their partnership assets (digital and non-digital) and EVERY partner in a way that they’ve never previously had access to. Our platform and dashboards help groups acquire, retain, and grow revenue by telling a complete sponsorship portfolio story through real performance metrics (values, impressions, engagements). We have created a platform that will truly turn data into a clear story that will grow revenue, save time, and provide partners an easy-to-understand view of their partnership. Providing partner data and valuing assets shouldn’t be daunting. We made it easy.
Vote!

TransUnion
TransUnion is a global information and insights company with over 13,000 associates operating in more than 30 countries. We make trust possible by ensuring each person is reliably represented in the marketplace. We do this with a Tru™ picture of each person: an actionable view of consumers, stewarded with care. Through our acquisitions and technology investments, we have developed innovative solutions that extend beyond our strong foundation in core credit into areas such as marketing, fraud, risk, and advanced analytics. As a result, consumers and businesses can transact with confidence and achieve great things. We call this Information for Good® — and it leads to economic opportunity, great experiences, and personal empowerment for millions of people around the world.
Vote!

Social Impact Award

Presented to a company that has fostered a commitment to DEI, community contributions, and social impact.

Metopio
Metopio is a Chicago-based technology company committed to transforming complex data into actionable insights to drive meaningful social change. Founded with the mission to democratize data and enhance its utility across public and private sectors, Metopio provides an easy-to-use platform that enables users to understand and visualize data about places and populations. The company’s flagship product, the Chicago Health Atlas, developed in partnership with the University of Illinois-Chicago and the Chicago Department of Public Health, exemplifies its dedication to providing transparent, accurate, and user-friendly data resources that empower communities to take informed actions.
Vote!

Taptic
Taptic – If the fire alarm goes off right now, you and I hear it and run out of the building. A deaf person wouldn’t know. When the microwave rings, you and I go get the popcorn, but a deaf person would have to set their own timer, stand around the microwave, or rely on someone else to let them know. This world is built for hearing people. All the beeps, bops, dings, and buzzes, alert us through auditory cues. However, not everyone can hear… Taptic helps Deaf and hard-of-hearing people never miss an important alert again. In a world where auditory cues dominate, this mobile app “hears” sounds and notifies Deaf people with a combination of vibrations, flashes, and phone notifications ensuring increased safety and independence with portable alerts in their pocket. Taptic is a lifeline for Deaf and hard-of-hearing individuals to rely on.
Vote!

Taptic
Taptic – If the fire alarm goes off right now, you and I hear it and run out of the building. A deaf person wouldn’t know. When the microwave rings, you and I go get the popcorn, but a deaf person would have to set their own timer, stand around the microwave, or rely on someone else to let them know. This world is built for hearing people. All the beeps, bops, dings, and buzzes, alert us through auditory cues. However, not everyone can hear… Taptic helps Deaf and hard-of-hearing people never miss an important alert again. In a world where auditory cues dominate, this mobile app “hears” sounds and notifies Deaf people with a combination of vibrations, flashes, and phone notifications ensuring increased safety and independence with portable alerts in their pocket. Taptic is a lifeline for Deaf and hard-of-hearing individuals to rely on.
Vote!

ReloShare
ReloShare is a Chicago-based technology company that has transformed the process of securing emergency lodging for survivors of domestic violence, human trafficking, and other crises. Through its innovative platform, Safe Stays by ReloShare, the company provides a real-time hotel booking system that enables social service agencies to book hotel rooms anonymously, ensuring safety and confidentiality for those in need. Founded in 2020, ReloShare partners with over 15,000 hotels and more than 400 social service agencies, having provided over 350,000 safe nights for vulnerable populations.
Vote!

Taptic

Taptic – If the fire alarm goes off right now, you and I hear it and run out of the building. A deaf person wouldn’t know. When the microwave rings, you and I go get the popcorn, but a deaf person would have to set their own timer, stand around the microwave, or rely on someone else to let them know. This world is built for hearing people. All the beeps, bops, dings, and buzzes, alert us through auditory cues. However, not everyone can hear… Taptic helps Deaf and hard-of-hearing people never miss an important alert again. In a world where auditory cues dominate, this mobile app “hears” sounds and notifies Deaf people with a combination of vibrations, flashes, and phone notifications ensuring increased safety and independence with portable alerts in their pocket. Taptic is a lifeline for Deaf and hard-of-hearing individuals to rely on.
Vote!

Rising Star Award

Presented to an early-stage company that is positioned to grow into a leader in its market.

Arvist
Arvist improves distribution and warehousing operations by optimizing loading docks for efficiency, quality, and compliance, using data from existing infrastructure like security cameras, cell phone cameras, and WMS along with its artificial intelligence platform. Their secure on-prem AI solutions are currently deployed across the US and Canada, including logistics operations for the Department of Defense, positioning Arvist as a leader in practical AI applications in the warehousing and logistics space.
Vote!

GoLogic Solutions
GoLogic Solutions – Patrice Neely is a second-generation serial entrepreneur and an economic architect with over ten years of experience inventing innovative ecosystem solutions. She is the founder and CEO of GoLogic, where she invented GoTackle, a business collaboration platform for organizations providing small business coaching, consulting, and advising. In March 2020, her prior tech business was shut down due to the pandemic losing $80,000 in monthly recurring revenue and $1 million in venture capital overnight. However, she recovered when a representative from the Mayor’s office called seeking a tech company to help small businesses reopen which she did with a vengeance. After a great deal of research, she created GoTackle, the solution to help millions of small businesses experience success and attain generational wealth, leveraging data transformation and AI innovation to revolutionize the delivery and development of small business support. Patrice is also on the board of the Illinois Small Business Advocacy Council who has won multiple awards and recognition for her innovation and leadership, including being backed by Mastercard, Google, and Techstars.
Vote!

Kaizen Health
Kaizen Health addresses the social determinants of health (SDOH) by removing transportation as a barrier to living a healthy and happy life and enabling greater access to fundamental resources like healthcare, food, education, employment, and housing. The company pairs an adaptive and scalable technology platform with a nationwide infrastructure of transportation and delivery partners to serve urban and rural areas for people of all physical and mental abilities. It strives to constantly improve community access to healthcare by providing a logistics hub for both provider and patient. That means developing a process and the technology to relieve the administrative burden from provider and financial burden from the patient so they can both focus on the healing and treatment plan.
Vote!

Mycocycle
Mycocycle, a nature-inspired and woman-owned biotechnology company, is at the forefront of sustainable innovation, leveraging fungi to transform industrial waste into reusable raw materials. Founded in 2018 and headquartered in Chicago, Mycocycle has made significant strides in the waste management industry by addressing the critical issues of waste and greenhouse gas emissions in the construction sector. Their unique mycoremediation process uses fungi to break down toxic waste materials, converting them into non-toxic, high-quality raw materials such as industrial fillers, fibers, and foams. This sustainable approach not only reduces waste but also produces materials that are lightweight, thermally insulating, fire-retardant, and water-repellent.
Vote!

Route
Route is a vendor-focused platform designed to empower small business service providers in the facility services industry with essential business management tools and customer acquisition capabilities. The platform addresses three critical pain points in the commercial cleaning sector: winning new business, maintaining profitability, and managing the diverse roles of a small business owner. By offering a comprehensive suite of tools from a single platform, Route enables small business owners to scale and grow efficiently.
Vote!

Momentum Award

Presented to a growing company with the strongest potential to emerge as a leader in its market.

Hallow
Hallow is the world’s No. 1 prayer app, helping people around the world find peace through meditation and prayer. Since going live in December 2018, Hallow now offers more than 10,000 guided audio sessions that include prayers and reflections for mental health, sleep, peace, and more. The app is available in eight languages and has been downloaded nearly 20 million times in more than 150 languages. People using Hallow have completed more than 500 million prayers. In February, Hallow surpassed the likes of Instagram, TikTok, Facebook, Chat-GPT, and Temu to become the most popular app in the Apple App Store, ranking No. 1 among all free apps. We believe we are the first-ever Chicago tech company to achieve this milestone, and we did it with a full-time team of less than 80, compared to the tens of thousands of employees at the Silicon Valley tech giants who normally vie for the top spot. We believe that prayer can change the world and that a relationship with God is a starting point from which love–love of God, love of neighbor, love of each other–can flow.
Vote!

HomeX
HomeX is revolutionizing home services through innovative technology and a customer-centric approach. By leveraging cutting-edge AI and machine learning, HomeX provides homeowners with seamless solutions for their repair and maintenance needs. From remote diagnostics to skilled technician dispatch, HomeX ensures efficiency, transparency, and quality in every interaction. Headquartered in Chicago, HomeX is not only transforming the home services industry but also actively contributing to the local tech ecosystem through partnerships, community engagement, and talent development.
Vote!

NanoGraf
NanoGraf is an advanced battery material company whose patented silicon anode technology enables longer-lasting, higher-energy, and higher-power lithium-ion batteries. NanoGraf works with more than 50 companies, including some of the world’s leading consumer electronics, household appliance, and power tool brands, and over 12 strategic partners in electric mobility from startups to Fortune 100s.
Vote!

Nutrisense
Nutrisense is a pioneering health technology company that specializes in continuous glucose monitoring (CGM) to provide real-time insights into metabolic health. Founded in 2019 and headquartered in Chicago, Nutrisense leverages state-of-the-art CGM technology to empower individuals to optimize their nutrition and overall well-being. By combining wearable sensors with personalized nutrition coaching, Nutrisense helps users understand their unique metabolic responses to food, exercise, stress, and sleep, enabling them to make informed decisions to improve their health.
Vote!

Upfront Healthcare
Upfront Healthcare is a Chicago-based, mission-driven healthcare technology company reimagining patient engagement for the better. Leveraging best-in-class healthcare expertise to increase the impact of their next-generation technology, Upfront partners with healthcare enterprises to guide every patient to the care they need. By offering highly personalized and proactive digital experiences along each patient’s unique care journey, Upfront unlocks better health outcomes, improves operational efficiency, and drives patient loyalty in a sea of competitors. The backbone of the Upfront experience is its patient engagement platform. Integrating behavioral science, machine learning, and a proprietary psychographic model, the platform leverages existing data to predict individual patient needs and preferences and to deliver hyper-personalized omnichannel outreach. Across dozens of use cases — from wellness visits and cancer screenings, to medication management and billing reminders — Upfront activates patients to complete necessary care. This, in turn, leads to better clinical, financial, and operational outcomes for its partners. Central to Upfront’s mission is the belief that every patient deserves an exceptional healthcare experience. Its growing team is committed to improving health equity via accessible, effective, and human-centric care at every touchpoint — all while achieving tangible outcomes for leading healthcare systems and provider groups.
Vote!

CityLIGHTS Award

Presented to a company or individual that has made a significant impact on the local tech community through leadership, innovation, and contributions to the tech ecosystem.

CoinFlip
CoinFlip is a global digital currency platform company, focused on providing consumers simple and secure access to buy and sell cryptocurrency. The company operates the world’s largest network of cryptocurrency kiosks by transaction volume with more than 5,000 kiosks across 49 U.S. states, Puerto Rico, Canada, Australia, New Zealand, South Africa, Italy, Panama, and Brazil. CoinFlip’s digital currency kiosks make buying and selling major cryptocurrencies accessible and safe for consumers who wish to purchase their digital currency using cash.

Vote!

Kin Insurance
Kin Insurance is a pioneering digital home insurance company based in Chicago, dedicated to providing affordable and comprehensive insurance solutions directly to consumers. Founded in 2016, Kin leverages advanced technology to streamline the insurance process, offering tailored coverage options and a seamless user experience. By eliminating the need for external agents, Kin makes homeowners insurance more accessible and cost-effective, catering to a growing market of digitally savvy consumers.
Vote!

Loadsmart
Loadsmart revolutionizes the logistics landscape by combining cutting-edge technology with high-level transportation services to optimize freight spend, increase efficiency, and enhance service quality. Whether it be through managed transportation services, new generation TMS, dock scheduling software, truck management solutions, dynamic freight brokerage, or tailor-made optimization solutions, we empower shippers, carriers, and warehouses to move more with less.
Vote!

LogicGate
LogicGate, founded by Matt Kunkel, Jon Siegler, and Dan Campbell, is a Chicago-based technology company specializing in governance, risk, and compliance (GRC) solutions. The company’s flagship product, Risk Cloud, is a no-code platform that allows enterprises to automate and operationalize their risk management processes. With its user-friendly and flexible interface, Risk Cloud enables organizations to tailor their GRC programs to their specific needs without requiring extensive IT support. This adaptability and ease of use have positioned LogicGate as a leader in the GRC industry, catering to a diverse clientele, including prominent companies like SoFi, Zurich Insurance, and Memorial Hermann Health.
Vote!

Tegus
Tegus is the leading company intelligence platform for key decision makers. We power some of the world’s most well-respected institutional investors, corporations, and consultancies through the largest and most comprehensive database of primary and market information. Our products and services enable clients to discover unmatched insights and answers to the most challenging questions they face to help them make better-informed decisions.
Vote!

About 1871

1871, a nonprofit global innovation hub, exists to inspire, equip, and support early-stage, growth-stage, late-stage, and corporate innovators in building extraordinary businesses. 1871 is home to ~500 early-stage startups, ~250 growth and late-stage companies, and ~60 corporates, and is supported by an entire community focused on accelerating their growth and creating jobs in the Chicagoland area. The member experience includes virtual and in-person access to workshops, events, mentorship, and more. The nonprofit organization has 350 mentors available to its members, alongside access to more than 200 partner corporations, universities, education programs, accelerators, venture funds, and others. Since its inception in 2012, more than 1,050+ alum companies are still active, have created over 14,700 jobs, and have raised more than $3.7 billion in follow-on capital. 

For media inquiries, please contact:  

J Blaszczykiewicz, Sr. Director of Marketing at 1871  

j@1871.com   

press@1871.com   

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In the ever-evolving landscape of technology, innovation is the key to staying ahead. The AI Innovation Summit 2024, held at 1871, brought together leading minds in artificial intelligence to share insights, breakthroughs, and visions for the future. Here’s a look back at the highlights and key takeaways from this transformative event. View the full playlist here.


Supported by

Aon, Discover, DeVry, Drive Capital, Decasonic, EX3 Labs, FinTech4good,  Fenwick, Hyde Park Angels, HubSpot, Microsoft, Molson Coors, Suntory Holdings Limited, World Business Chicago, Verizon, and Why of AI.

Introduction to the Summit

The AI Innovation Summit 2024 kicked off with a warm welcome from our CEO, Betsy Ziegler, setting the stage for an exciting day of learning and networking. The event attracted a diverse audience, from AI enthusiasts to industry veterans, all eager to explore the latest advancements in AI technology.

Keynote Speeches

Our keynote speakers did not disappoint during their firesides. Adam McElhinney, CEO at Uptake, a renowned startup expert, opened the summit with a thought-provoking talk on the future of AI to transform operations. Chris Gladwin, CEO of Ocient followed with a deep dive into  what it means to hyperscale data analytics and provide solutions that enable organizations to rapidly analyze and act on massive datasets. The keynotes provided a perfect blend of inspiration and practical insights, leaving the audience eager for more.

Interactive AI Workshops

The summit featured several interactive workshops designed to provide attendees with hands-on experience in AI. These sessions covered a range of topics, including:

  • How to Turn AI Chaos into Clarity: Alex Castrounis, Justin Johnson, Erik O’Brien, leadership at  Why of AI
  • What Issues Are Blocking AI Adoption: Dean Wampler of IBM
  • Human-Centered AI for Enterprises: Developing a Strategy for a Voice-First Future: Hosted by Ex3 Labs

Participants left these workshops with new skills and a deeper understanding of how to leverage AI in their own projects.

Panel Discussions Exploring AI Trends and Challenges

The panel discussions were a highlight of the summit, featuring experts from various industries who discussed the latest trends and challenges in AI. Key topics included:

These discussions provided diverse perspectives and sparked meaningful conversations among attendees.

Spotlight on Emerging Technologies with AI Pitch Compeition

AI Startup Expo & Pitch Competition showcased the incredible founders from our AI Innovation Lab 2024 Cohort, pioneers of impressive tech products. 

The AI Startup Expo & Pitch Competition at our AI Innovation Summit 2024 was a thrilling showcase of innovation, featuring remarkable founders from our AI Innovation Lab 2024 Cohort. These pioneers are developing cutting-edge tech products that are set to revolutionize their respective industries.

Congratulations to our pitch competition 🏆 winners:

xBlock: xBloc captivated the judges with their predictive analytics platform designed to deliver real-time insights and data-driven decision-making capabilities. xBloc integrates data from diverse sources to enhance operational efficiency, optimize resource utilization, and reduce costs. Their innovative solution provides personalized support and comprehensive analytics, helping businesses navigate complex data landscapes and achieve strategic goals with precision and speed.

Levee: Levee impressed the audience with their AI-driven workforce optimization platform designed to power the future of quality control in the hospitality sector. Levee’s system utilizes advanced algorithms to predict labor demand, optimize staffing levels, and enhance employee performance. By providing real-time analytics and predictive insights, Levee helps businesses maintain exceptional service quality, streamline operations, and boost customer satisfaction

Engaging with Innovations

Shoutout to our full AI Innovation Lab 2024 Cohort: Lumi AI SpaceBot.ai NLX Extend xBlock Graphio Agtools Inc Drip Tech Co Autonoma nutrād HydroX AI inQuestAI GoCharlie.ai NeoLicense Infera AI Matrice.ai Polygraf AI Legman Levee OpenRisk Technologies InstaEnglish Inc xPub DynamoFL CodeCompleteAI

Attendees had the unique opportunity to interact with these groundbreaking innovations firsthand. The expo provided a dynamic environment for networking and discussions, fostering potential collaborations and partnerships. Participants explored the capabilities of these AI solutions, gaining insights into how they can be applied across various sectors to drive efficiency and innovation.

Why It Matters

The AI Pitch Competition is more than just a showcase of talent; it’s a testament to the transformative power of AI in solving real-world problems. By supporting and highlighting these startups, we are not only recognizing their achievements but also encouraging the continuous growth and development of AI technologies that can make a significant impact on our lives.

Building Connections in AI

Networking was a key component of the AI Innovation Summit. Attendees enjoyed numerous opportunities to connect with like-minded professionals, potential partners, and industry leaders. From coffee breaks to structured networking sessions, the summit facilitated meaningful interactions that could lead to future collaborations and partnerships.

Reflecting on the Summit

The summit concluded with closing remarks from Betsy, who reflected on the day’s highlights and thanked all participants for their contributions. The event underscored the importance of collaboration and continuous learning in the rapidly evolving field of AI. 

Looking Ahead

As we look to the future, the insights and connections gained at the AI Innovation Summit 2024 will undoubtedly drive innovation and progress. We look forward to continuing these conversations and exploring new possibilities at future events.

The AI Innovation Summit 2024 was a resounding success, bringing together a community of innovators committed to shaping the future of AI. We thank all our speakers, participants, and sponsors for making this event possible. Stay tuned for more updates and future events from 1871!

Subscribe to 1871 Innovation Summit news & offerings. 

Subscribe to 1871’s Insider newsletter to stay in the loop with all offerings. 

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1871’s Juneteenth Celebration: Honoring Black Excellence

1871’s Annual Juneteenth 2024 Celebration was a vibrant day, with over 450+ attendees celebrating Black innovation, entrepreneurship, and allyship.

This public, family-friendly event took place on the riverside of Chicago’s historic Merchandise Mart, featuring an outdoor spread of networking, raffles, games, food, drinks, and our BLKtech Pitch Competition Finals.

Our go-to DJ, DJ Marcus, kept the energy high as he spun music for the attendees, creating an atmosphere of unity and community spirit. A little rain in the afternoon didn’t dampen our spirits as we moved the event inside the Mart to Marshall’s Landing, ensuring the festivities continued without a hitch.

Spotlighting Black-Owned Businesses

Raffles from local Black-owned Chicago businesses were a highlight of the event! Our community enjoyed discovering and supporting these businesses, with many walking away with fantastic prizes:

Additional raffle prizes were generously donated by:
 

Announcing 1871's BLKtech Pitch Competition Winners

Our Annual BLKtech Pitch Competition Finals also took place at our Juneteenth event for the first time this year. Five incredible Black startup founders pitched their innovative ideas in the semi-finals. They were awarded a mix of cash, equity, developer credits, and 1871 membership. 

Join us in spotlighting these talented individuals and their innovative ventures as we aim to continue challenging these barriers and pave the way for a more inclusive and equitable tech ecosystem.

CPRWrap Inc.

Pitched by Founder & President Felicia Jackson
Winnings: $15K in cash & equity
 
CPRWrap is dedicated to revolutionizing the way individuals perform CPR in emergency situations. With their innovative product, also named CPRWrap, they provide a simple yet effective solution that guides users through the critical steps of CPR, ensuring proper technique and potentially saving lives. By empowering individuals with confidence and clarity during high-stress situations, they aim to make CPR accessible to everyone and improve survival rates for cardiac arrest victims.

Industry focus areas: Business Products & Services (industry agnostic), E-Commerce, Brand, RetailTech, HealthCare, MedTech, Pharma, Wellness, and Social Impact 

 

Tuverl

$10K in cash & $2.5K in Aloa Developer Credits

Pitched by Founder & CEO Hope Ndhlovu

Tuverl seeks to revolutionize public transport in Africa by offering zero-collateral financing for climate-friendly vehicles and innovative digital solutions. Its platform optimizes public transport operations, enabling operators to improve routes, increase revenue, and enhance efficiency. Through its app, commuters can live-track buses and minibusses, book trips, hail taxis, and pay digitally. Tuverl’s approach supports sustainable urban development and climate action, making travel safer, more reliable, and affordable for millions across the continent.

Industry focus areas: Mobility, FinTech, Financial services, Energy & Sustainability, and Social Impact 
 

Tinted Health

$10K in Aloa Developer Credits
Tinted Health, pitched by Founder Dr. Rebecca Cesar

Tinted Health is a curated digital health platform that provides access to minority providers skilled in cultural literacy. They are focused on educating providers to specifically address minority health needs through shared learning. They make it easy for minority patients to access and book minority providers in real-time through its site, addressing the health gap and the trust gap.

Industry focus areas: HealthCare, MedTech, Pharma, Wellness, Social Impact, Artificial Intelligence

 
 

Ujamaa.Financial  

$5K in Aloa Developer Credits
Ujamaa.Financial, pitched by Founder Dana Fry

 

Ujamaa.Financial is a mission-driven fintech empowering communities often overlooked in mainstream finance – Black, Brown, and first-generation college students and graduates. Through a gamified app, it delivers culturally contextualized financial education, facilitates accelerated debt repayment via round-up payments, and builds credit profiles – all while fostering a supportive community. Ujamaa.Financial aims to boost financial literacy, speed up generational wealth creation, and provide inclusive financial services tailored to the unique challenges these demographics face. With novel approaches like fractional asset rewards, the company represents the next wave of fintechs focused on democratizing financial progress.

Industry focus areas: FinTech, Financial services, EdTech, InsureTech, Real Estate Tech, Social Impact

 

plait

$2.5K in Aloa Developer Credits

Pitched by Founder & CEO Makini Allwood

plait is an online marketplace and delivery solution that will partner with Black beauty retailers whose inventories are 100% dedicated to Black hair and beauty. From their website, plait customers can order all the hair products, extensions, and styling tools they need. Then,  full-time delivery drivers will collect ordered items from their network of inventory partners, repackage the items into custom orders at a small fulfillment facility, and then deliver the orders to its customers as early as the next day.

Industry focus areas: Logistics, Supply Chain, Transportation, Mobility, E-Commerce, Brand, and RetailTech 

 
Thank you to our investment partners OCA Ventures, Wintrust Ventures, and Google For Startups and our 2024 sponsors Aloa and Molson Coors for your contributions to this event.   

Bolstering Black Excellence

“I want everybody to know here and remember, this is a community for you, for you, for you, for you….and it has the power to change lives. It’s definitely changed mine.” Jeff Osujij, 1871 Member, Founder & CEO of Eventnoire, Entrepreneur-In-Residence for 1871’s BLKtech Founders, gives a heartfelt speech on what it means to be part of our innovation community.

View more of the speech here, where Jeff recognizes 1871, particularly, CEO Betsy Ziegler’s efforts in supporting Black founders in Chicago.

Learning about 1871 BLKtech

1871’s Juneteenth celebration is one of our signature events. View our full event playlist here. Within our Affinity Programs Initiative, we have strategically developed a suite of offerings to support and amplify Black innovation & entrepreneurialism that we call BLKtech. 

Through immersive programming, tailored resources, mentorship, and community networking opportunities it’s our mission to do our part to right systemic barriers and challenges in accessing resources and opportunities for this community.

Our programs, mention below, are designed for founders, leaders, tech enthusiasts, and the public:

BLKtech Pitch Competition, BLKtech Founders, Tech Leaders, and BLKtech Voices. 

Thank you sponsors

Eventnoire

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CHICAGO – June 18, 2024 – Non-profit global innovation hub 1871 is excited to announce the launch of the third annual Supply Chain Innovation Lab. In partnership with Accenture, this program aims to revolutionize supply chain operations by leveraging cutting-edge technology and innovative solutions. Applications are now open until 6.24.24 for this year’s lab, which runs from August to November 2024.

“For the third consecutive year, Accenture and 1871 are partnering on the Supply Chain Innovation Lab, bringing together people from a broad range of organizations, driving new ideas for growth. The need for ongoing supply chain innovation is critical as companies continue to balance volatile demand with macroeconomic challenges,” said Patty Riedl, North American Supply Chain Lead, Accenture.     

“Chicago’s logistics legacy meets tech’s future at 1871,” Betsy Ziegler, CEO of 1871. “Partnering with Accenture, we are uniting entrepreneurs and leaders to create transformative solutions and revolutionize supply chains. From AI to smart manufacturing, shape the future with us. Be part of Chicago’s next chapter in global trade, driving the evolution of supply chains.”  

The Supply Chain Innovation Lab is designed to connect supply chain tech startups with corporate partners, investors, and industry experts to scale innovation and explore trends for future transformation. This Lab is part of 1871’s suite of Innovation Labs and runs in parallel with the 2024 FoodTech Innovation Lab.   

This year’s lab is also supported by Anchor Partner Microsoft, General Partner GS1,  late-stage partner EX3 Labs, and partner World Business Chicago.    

Supply Chain Innovation Lab 2024 Eligibility 

The Lab is open to the following innovators:

  • Supply Chain startups with a product launched in market focused on the supply chain space 
  • Late-stage partners seeking to enhance their supply chain through partnerships or have a core product focused on the supply chain space  
  • Corporations sitting at the forefront of supply chain innovation or seeking to enhance their supply chain via partnerships    

There will be a selection process for startups to ensure those admitted to the program have proven readiness and are a fit for the Lab and its focus areas. Applications close 6.28.24. Learn more and apply here.       

The cohort will meet for one whole week of programming in August, September, October, and November 2024, ending with a Supply Chain Innovation Summit on 11.07.24. 

2024 Focus Areas

With Accenture providing strategic leadership and guidance, the Lab focuses on several areas for cohort members to explore, identify, and collaborate to solve key issues within the industry. Focus areas include:  

  • Smart Manufacturing   
  • Supply Chain Responsibility   
  • Global Resiliency   
  • AI in Supply Chain   
  • Visibility and Planning   

Why Supply Chain   

In today’s global system, supply chain innovation is crucial to enhance efficiency, resilience, and sustainability, especially for businesses. With advancements in smart manufacturing and improved visibility and planning, these elements provide real-time insights and streamlines production processes, reducing waste and cost.   

Emphasizing supply chain responsibility ensures ethical practices and environmental stewardship, alongside global resiliency to withstand disruptions, maintaining continuity in supply. These innovations collectively drive a more robust and adaptive global supply chain.    

We invite the press and the public to join us in exploring the future of the supply chain industry.   

For inquiries about involvement in partnering with us or learning more about sponsor options for either our Supply Chain Innovation Lab or Supply Chain Innovation Summit, contact our team at corpinno@1871.com.

About 1871 Innovation Labs  

The Innovation Labs serve as a dynamic hub for fostering cutting-edge solutions, collaboration, and technological advancement. These labs offer a platform for startups, industry leaders, investors, and venture capitalists to come together to pioneer the future of various industries, including artificial intelligence, cannabis, supply chain, and beyond.    

Typically running for three or four months, the labs are at the forefront of innovation, connecting key players in the tech community to drive transformative change and accelerate the development of groundbreaking solutions for today’s challenges.   

About 1871  

1871, a nonprofit global innovation hub, exists to inspire, equip, and support early-stage, growth-stage, late-stage, and corporate innovators in building extraordinary businesses. 1871 is home to ~500 early-stage startups, ~250 growth and late-stage companies, and ~60 corporates, and is supported by an entire community focused on accelerating their growth and creating jobs in the Chicagoland area. The member experience includes virtual and in-person access to workshops, events, mentorship, and more. The nonprofit organization has 350 mentors available to its members, alongside access to more than 200 partner corporations, universities, education programs, accelerators, venture funds, and others. Since its inception in 2012, more than 1,050+ alum companies are still active, have created over 14,700 jobs, and have raised more than $3.7 billion in follow-on capital.  

About Accenture   

Accenture is a leading global professional services company that helps the world’s leading businesses, governments and other organizations build their digital core, optimize their operations, accelerate revenue growth and enhance citizen services—creating tangible value at speed and scale. We are a talent- and innovation-led company with approximately 742,000 people serving clients in more than 120 countries. Technology is at the core of change today, and we are one of the world’s leaders in helping drive that change, with strong ecosystem relationships. We combine our strength in technology and leadership in cloud, data and AI with unmatched industry experience, functional expertise and global delivery capability. We are uniquely able to deliver tangible outcomes because of our broad range of services, solutions and assets across Strategy & Consulting, Technology, Operations, Industry X and Song. These capabilities, together with our culture of shared success and commitment to creating 360° value, enable us to help our clients reinvent and build trusted, lasting relationships. We measure our success by the 360° value we create for our clients, each other, our shareholders, partners and communities. Visit us at www.accenture.com.  

For media inquiries, please contact:  

J Blaszczykiewicz, Sr. Director of Marketing at 1871  

j@1871.com   

press@1871.com    

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1871’s BLKtech Pitch Competition returns to highlight and support Black founders and their startups with pitching opportunities to win funding, resources, and support as they continue to build their businesses. This 3-round pitch competition is open to Black early-stage founders who are founding and leading tech startups across the globe. 

For the first time, the top 5 finalists will pitch during 1871’s 2024 Juneteenth celebratory event. This momentous occasion not only marks a significant milestone for the pitch competitions and community, but underscores our community’s commitment to amplifying Black entrepreneurship and innovation in the tech industry! 

With 70+ round 1 applications and 20 extraordinary semi-finalists, 1871 is excited to announce the top 5 finalists who will be moving forward and pitching their startups at our final event on 6.20.24! 

Cash prizes and equity funding from our VC partners, totalling $20,000, will be awarded amongst the finalists. 6-months of 1871 membership — a $2,000 value and Aloa developer credits, totaling a value of $20,000 will also be awarded. 

Thank you to our investment partners OCA Ventures, Wintrust Ventures, and Google For Startups and our 2024 sponsors Aloa and Molson Coors for your contributions to this event.   

Top 5 Finalists & Startups of the BLKtech Pitch Competition 2024

CPRWrap Inc., pitched by Founder & President Felicia Jackson

CPRWrap is dedicated to revolutionizing the way individuals perform CPR in emergency situations. With their innovative product, also named CPRWrap, they provide a simple yet effective solution that guides users through the critical steps of CPR, ensuring proper technique and potentially saving lives. By empowering individuals with confidence and clarity during high-stress situations, they aim to make CPR accessible to everyone and improve survival rates for cardiac arrest victims.

Industry focus areas: Business Products & Services (industry agnostic), E-Commerce, Brand, RetailTech, HealthCare, MedTech, Pharma, Wellness, and Social Impact 

 

Plait, pitched by Founder & CEO Makini Allwood

Despite Black hair being a multi-billion dollar industry, the retail experience is highly fragmented, meaning many Black consumers have to shop at multiple stores to get everything they need. plait is an online marketplace and delivery solution that will partner with Black beauty retailers whose inventories are 100% dedicated to Black hair and beauty. From their website, plait customers can order all the hair products, extensions, and styling tools they need. Then,  full-time delivery drivers will collect ordered items from their network of inventory partners, repackage the items into custom orders at a small fulfillment facility, and then deliver the orders to its customers as early as the next day.

Industry focus areas: Logistics, Supply Chain, Transportation, Mobility, E-Commerce, Brand, and RetailTech 

 

Tinted Health, pitched by Founder Dr. Rebecca Cesar

Tinted Health is a curated digital health platform that provides access to minority providers skilled in cultural literacy. They are focused on educating providers to specifically address minority health needs through shared learning. They make it easy for minority patients to access and book minority providers in real-time through its site, addressing the health gap and the trust gap.

Industry focus areas: HealthCare, MedTech, Pharma, Wellness, Social Impact, Artificial Intelligence

 

Tuverl, pitched by Founder & CEO Hope Ndhlovu

Tuverl seeks to revolutionize public transport in Africa by offering zero-collateral financing for climate-friendly vehicles and innovative digital solutions. Its platform optimizes public transport operations, enabling operators to improve routes, increase revenue, and enhance efficiency. Through its  app, commuters can live track buses and minibusses, book trips, hail taxis, and pay digitally. Tuverl’s approach supports sustainable urban development and climate action, making travel safer, more reliable, and affordable for millions across the continent.

Industry focus areas: Mobility, FinTech, Financial services, Energy & Sustainability, and Social Impact 

 

Ujamaa.Financial, pitched by Founder Dana Fry

Ujamaa.Financial is a mission-driven fintech empowering communities often overlooked in mainstream finance – Black, Brown, and first-generation college students and graduates. Through a gamified app, it delivers culturally contextualized financial education, facilitates accelerated debt repayment via round-up payments, and builds credit profiles – all while fostering a supportive community. Ujamaa.Financial aims to boost financial literacy, speed up generational wealth creation, and provide inclusive financial services tailored to the unique challenges these demographics face. With novel approaches like fractional asset rewards, the company represents the next wave of fintechs focused on democratizing financial progress.

Industry focus areas: FinTech, Financial services, EdTech, InsureTech, Real Estate Tech, Social Impact

 

About BLKtech Pitch Competition

The BLKtech Pitch Competition is a part of 1871’s Black tech entrepreneur initiative, designed to support and amplify Black early-stage founders and leaders through immersive programming, tailored resources, mentorship, and community networking opportunities. Similar affinity initiatives include BLKtech Founders, Tech Leaders, and BLKtech Voices. 

Historically, Black entrepreneurs have faced systemic barriers and challenges in accessing resources and opportunities. We are so honored to bring together our full community of early, growth, late-stage and corporate members, VC partners, and allies as we highlight and celebrate well deserving Black-led startups!  

Join us in spotlighting these talented individuals and their innovative ventures as we aim to continue challenging these barriers and pave the way for a more inclusive and equitable tech ecosystem. Attend the event, either in person or virtually from 3:00 – 4:30 PM CST, followed by the Juneteenth celebration from 4:30 – 8:00 PM CST. 

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For 17 years, the Momentum Awards have been the largest celebration of tech innovation and impact in Chicagoland. But what makes them unique? 

This award ceremony is 1871’s premier signature event, bringing together our entire community of founders, leaders, partners, and supporters annually for a night of celebration and innovation. 

Here’s everything you need to know about the Momentum Awards, its history and evolution, and its impact on the work we do for our tech community! 

View our 2023 recap playlist! 

About the event 

Each year, the Momentum Awards honor the top tech innovators and leaders who are disrupting their industries, building up their communities, & shaping the future.

Our 8 awards: Rising Star, Momentum, CityLIGHTS, Outstanding Tech CEO, Industry Disrupter, Social Impact, Corporate Champion, and Chicagoness, represent key areas of achievement, spanning from idea to Fortune 50.

With awards recognizing early-stage startups, growth and late-stage companies, and corporate innovators, the Momentum Awards celebrates outstanding individuals and companies, no matter where they are in their business journey!

Together, our award ceremony highlights the strength of our community and showcases the ingenuity that arises when innovators are connected with the necessary resources, mentorship, and support system.

The Momentum Awards supports our mission 

As a 501c3 nonprofit, our work is made possible by the generous support of our community. 

The Momentum Awards isn’t just an event—it’s our fuel for the future. Your support helps us inspire, equip, and champion innovators and leaders at every stage of their journey. Whether you contribute to our Annual Fund, become a sponsor, or join us at the event, you’re shaping the landscape of tomorrow’s tech leaders. Let’s build the future together! 

You can also help us recognize the best in tech by nominating yourself, your company, or your peers across our award categories. Nominations open each year during the summer, and your participation will help determine which innovators and leaders make our esteemed group of finalists!

Finally, you can support us by celebrating with our community at the event! Just reserve your ticket and join us in person or virtually for the big day. 

 

The story of the awards

The Momentum Awards predate 1871 itself! The Chicago Entrepreneurial Center (CEC) first introduced the awards in 2007 to bring attention to the people building businesses and growing the community at a time when few viewed Chicago as a top tech startup destination. 

A lot has changed in 17 years! Since our first event, we’ve seen incredible growth in our local tech industry, in large part because of the strength of our community. Every day, founders create meaningful solutions, build new businesses, and scale their companies. Our annual gathering has also evolved to reflect these developments. 

 

The Momentum Awards’ impact

Not only is it one of the best places to connect with some of the brightest stars in tech, but the Momentum Awards also has a long history of recognizing startups that have become leading disruptors in their industries. In fact, it wouldn’t be the first time one of our award recipients became Chicago’s next unicorn! 

You will surely recognize many of our 2023 winners, including  CDW,  Rivet, WeSolv,  ReloShare, 1440, SpotHero, and many others. Read about our 2023 Momentum Awards winners.  

As an attendee, you’ll also see the density and diversity of our community on full display. The Momentum Awards brings together our entire community of members, mentors, corporate sponsors, community and university partners, VCs, alums, and policymakers for an unforgettable night of celebration. It highlights what makes 1871 special—the energy from every fortunate collision with supporters who share the same passion for innovation!

For any questions about Momentum, contact momentum@1871.com

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Celebrating Juneteenth: Significance for Black Innovation and Entrepreneurship

Juneteenth, also known as Freedom Day or Emancipation Day, commemorates the day the last enslaved African Americans in Texas were finally informed of their freedom on June 19th, 1865, two and a half years after the Emancipation Proclamation. 

Today, Juneteenth is a powerful symbol of freedom, resilience, and the ongoing fight for equality and justice. It’s essential to recognize its importance in the context of Black entrepreneurship and innovation in Chicago, a city with a rich history of Black excellence and achievement. 

Chicago has long been a hub for Black entrepreneurship and innovation. Despite its history of systematic racism and discrimination, Black entrepreneurs in Chicago persevered and established businesses, communities, and cultural institutions that continue to thrive today. 

Innovation & economic empowerment 

Juneteenth reminds us of the resilience and ingenuity of Black entrepreneurs and innovators in Chicago and worldwide. This day celebrates the achievements and contributions of Black leaders, activists, and entrepreneurs to the city’s economy, society, and culture. 

At 1871, we recognize the importance of celebrating these individuals and their accomplishments and resiliency throughout history. Black-owned businesses not only create jobs and generate wealth but play a vital role in driving economic growth, fostering innovation, and serving as pillars of strength and pride within the community.  

 

Building a more inclusive future 

As we celebrate Juneteenth, it’s essential to recognize the ongoing challenges Black entrepreneurs and innovators face worldwide. Structural barriers, lack of access to funding and capital, and systematic racism continue to hinder Black founder’s progress. In fact, according to Crunchbase, only 0.48% of all VC funding in 2023 went to Black founders. 

At 1871, entrepreneurship is for everyone—tech talent is everywhere, but access to resources and funding is not. Our mission is to continue reflecting Chicago’s diverse talent pool by equipping and supporting underrepresented founders with the resources and help they need to build and scale extraordinary businesses. 

Today, our vibrant community is made up of 50% non-white founders and 30% women founders, embodying Chicago’s dynamic spirit and diversity. 

 

Celebrate with us

For the third year in a row, we’re commemorating Juneteenth and honoring Black entrepreneurship and innovation within our tech community and across Chicagoland with our Juneteenth celebration on 6.20.24. We invite you to join and be part of this critical moment of reflection, remembrance, and celebration. 

This event will bring together community members, industry leaders, and allies to celebrate the achievements and triumphs of Black innovators within our tech hub. Together, we can honor Juneteenth’s legacy and continue to work towards a more inclusive and equitable future for all.

From inspiring startup pitches from Black founders in our 2024 BLKtech Pitch Competition to raffle prizes from Black-owned businesses, this event will bring together our community for opportunities to connect, learn, and celebrate. Read about our 2023 celebration. 

This event welcomes all to join and is free to attend. RSVP today to celebrate with the 1871 community! 

 

Get involved 

Our support for Black entrepreneurs and innovators doesn’t stop after Juneteenth! Participate in 1871’s annual programming, community resource groups, and events to celebrate and support 1871’s BLKtech community. 

BLKtech Voices – 1871’s community resource group 

BLKtech Founders – 1871’s affinity programming dedicated to early-stage Black founders 

Tech Leaders – 1871’s affinity programming dedicated to Black & Latin leaders in technical-facing roles. Apps close on 6.24! 

BLKtech Pitch Competition – 1871’s annual pitching competition for Black founders 

Support our mission – 86% of every donated dollar goes towards our member programming, resources, and need-based scholarships 

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FOR IMMEDIATE RELEASE

CHICAGO — May 29, 2024 — 1871, non-profit global Innovation hub announces the launch of their second annual FoodTech Innovation Lab, running from August to November 2024.  This Lab unites food tech startups with corporate partners, investors, and industry experts to scale innovation and explore how technology can be leveraged to create efficiency and sustainability in designing, producing, and delivering food.  Applications are now open until June 24, 2024.

Nate Cooper, Founder and Managing Partner at Barrel Ventures, returns this year as the Entrepreneur-in-Residence. EX3 Labs, Levy, and World Business Chicago join as 2024 Lab partners.

“In my second year as the Expert in Residence for 1871’s FoodTech Lab, I’m excited to engage with innovative entrepreneurs shaping the future of food,” Cooper said. “The program brings together key players throughout the global ecosystem, and is a unique opportunity to directly support the future of food innovation. I’m thrilled to explore how this year’s founders are solving challenges in the verticals of AgTech, Ingredients, Manufacturing / Packaging, and other high-potential areas for innovation.”

“Tech integration is crucial for efficient and sustainable food systems that meet global demands,” said Betsy Ziegler, CEO of 1871. “Chicago, a hub for FoodTech innovation, is uniting leaders in Ingredients, Agtech, and Manufacturing and Packaging to develop transformative solutions. The time for healthier and more sustainable food systems is now, and together, we are shaping a future where food is efficient, sustainable, and accessible to all.”

 

FoodTech Innovation Lab 2024 highlights

The Lab is open to the following innovators: 

  • Food tech startups with a product launched in market  and poised to grow
  • Late-stage partners seeking to become an industry expert and influencing major industry outcomes
  • Corporations sitting at the forefront of food tech innovation or seeking to accelerate food tech solutions

There will be a selection process for startups to ensure those admitted to the program have proven readiness and are fit for the 2024 FoodTech Lab. 

An information session on the Lab will take place on 06.13.24 to provide attendees with information on the program structure, how to join the Lab, and the benefits of joining as a cohort member or partner.   

This Lab is designed to connect FoodTech startups, partners, corporate innovators, VCs, and industry experts for four immersive weeks of programming, alternating in virtual and in-person experiences. 

The cohort will meet for one week of programming in August, September, October,and November 2024, ending with a FoodTech Innovation Summit on 11.07.24. 

 

Focus areas 

This Lab focuses on several “focus areas” for cohort members to explore, identify, and collaborate to accelerate innovation within our food system. This year’s program will look at solutions in the food and beverage spaces. 

High-level focus areas include: 

  • Innovative ingredients
  • AgTech 
  • Manufacturing & Packaging Innovation 

Why FoodTech

In today’s global systems, FoodTech innovation is crucial for addressing challenges like sustainability, efficiency, and scalability. By focusing on innovative ingredients, AgTech, and manufacturing & packaging innovation, the cohort will collaborate on developing transformative solutions that improve food production, reduce waste, and ensure a resilient supply chain for the growing population. 

We invite the press and the public to join us in exploring the future of the FoodTech industry. 

 

About 1871 Innovation Labs

The Innovation Labs serve as a dynamic hub for fostering cutting-edge solutions, collaboration, and technological advancement. These labs offer a platform for startups, industry leaders, investors, and venture capitalists to come together to pioneer the future of various industries, including artificial intelligence, cannabis, supply chain, and beyond. 

Typically running for three or four months, the labs are at the forefront of innovation, connecting key players in the tech ecosystem to drive transformative change and accelerate the development of groundbreaking solutions for today’s challenges,

About 1871

1871, a nonprofit global innovation hub, exists to inspire, equip, and support early-stage, growth-stage, late-stage, and corporate innovators in building extraordinary businesses. 1871 is home to ~500 early-stage startups, ~250 growth and late-stage companies, and ~60 corporates, and is supported by an entire community focused on accelerating their growth and creating jobs in the Chicagoland area. The member experience includes virtual and in-person access to workshops, events, mentorship, and more. The nonprofit organization has 350 mentors available to its members, alongside access to more than 200 partner corporations, universities, education programs, accelerators, venture funds, and others. Since its inception in 2012, more than 1,050+ alum companies are still active, have created over 14,700 jobs, and have raised more than $3.7 billion in follow-on capital.

For media inquiries, please contact:

J Blaszczykiewicz, Sr. Director of Marketing at 1871

j@1871.com 

press@1871.com 

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1871 Announces Inaugural InsurTech Innovation Summit: Pioneering the Future of Insurance Technology

CHICAGO— May 28, 2024 — Non-profit global innovation hub 1871 is hosting its inaugural InsurTech Innovation Summit on 6.27.24. This public, hybrid event is set to unite over 250 startups, investors, corporate partners, and insurance enthusiasts for a full day of programming centered around technology-driven innovation in insurance and critical industry topics. Industry leaders such as Allstate, EX3, and World Business Chicago are supporting the 2024 Summit. Tickets are now on sale, more information below. 

The Summit capstones this year’s Innovation Lab immersive experience for startups and industry leaders. Founders from the 2024 Innovation Lab cohort will be showcasing their products and services through interactive Startup Expos and pitching their startups in a pitch showcase competition. Areas of focus include climate risk management, emerging data sources, the future of mobility, and sales and distribution innovation. 

“As the Entrepreneur in Residence, I’ve had a chance to interact with the 30+ startups in the cohort – We have some great startups, CEOs and founders in the InsurTech space,” said Jeff Chookaszian, Insurance and Financial Services Executive at The Boston Consulting Group (BCG). “This will be a great opportunity to network with some of the most influential leaders in the space including startups, VC’s and investors, corporates, and InsurTech junkies! The Summit will showcase innovation in the insurance industry and InsurTech. I would encourage anyone who is interested in InsurTech and AI to attend!”

“In an age where technology and risk intertwine, fostering collaboration between the insurance and tech sectors becomes paramount,” remarked Betsy Ziegler, CEO of 1871. “Drawing from my extensive experience in the insurance realm, I am excited to unveil the Insurtech Innovation Summit, an event poised to catalyze groundbreaking advancements. Set against the backdrop of Chicago, a city synonymous with innovation, this summit serves as a nexus for industry pioneers to converge. Together, we’ll chart the course for the future of insurance by harnessing the transformative power of technology.”

 

Summit Agenda

The public Summit will take place on 6.27.24, with the option to attend in person at 1871 or virtually from 10:00 to 6:30 PM CST. Note that while attendees can watch virtually, only a select group of events will be livestreamed. In-person participation is highly recommended to access full programming and networking opportunities. 

Attendees will gain insights into the latest insurance and tech trends, with focuses on risk management and underwriting , sales and distribution, and insights on  the future of tech integration into the insurance sector. Registration is required to participate in this event. 

 

Event details

  • Refreshments: Breakfast and lunch will be served, followed by happy-hour 
  • Expert-led panel discussions
  • Interactive breakout workshops 
  • Startup pitch competition
  • Startup Expo
  • Keynote
  • Networking

 

Ticketing information

This event is free to 1871 Members, with purchase options available for non-members. See ticket options here & register to attend.   

1871’s 2024 AI Innovation Summit will also run on the same day for separate curated programming.

For information regarding joining the Summit as a sponsor or partner, please get in touch with corpinno@1871.com. Subscribe to stay up-to-date on 1871’s Innovation Labs programming & news. 

 

About 1871 

1871, a nonprofit global innovation hub, exists to inspire, equip, and support early-stage, growth-stage, late-stage, and corporate innovators in building extraordinary businesses. 1871 is home to ~500 early-stage startups, ~250 growth and late-stage companies, and ~60 corporates, and is supported by an entire community focused on accelerating their growth and creating jobs in the Chicagoland area. The member experience includes virtual and in-person access to workshops, events, mentorship, and more. The nonprofit organization has 350 mentors available to its members, alongside access to more than 200 partner corporations, universities, education programs, accelerators, venture funds, and others. Since its inception in 2012, more than 1,050+ alum companies are still active, have created over 14,700 jobs, and have raised more than $3.7 billion in follow-on capital.

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CHICAGO — May 28, 2024 — Non-profit global innovation hub 1871 is hosting its second annual AI Innovation Summit with execution partners Why of AI and FinTech4Good on 6.27.24. This public, hybrid event is set to involve over 250 startups, investors, corporate partners, and public attendees that will convene for a full day of programming centered around artificial intelligence innovation and critical industry topics. Tickets are now available with more information below.

The Summit capstones our immersive Innovation Lab experience for startups & innovators. An exciting highlight of the day features founders of the  2024 AI Innovation Lab cohort pitching their AI-focused startups in a competition and showcasing their products in a Startup Expo.  Industry leaders like Microsoft, Discover,, Molson Coors, Suntory Holdings Limited, Fenwick, HubSpot, Verizon, EX3 Labs and World Business Chicago are supporting the 2024 Summit. 

“As we wrap up our AI Innovation Lab, I’m excited to celebrate the achievements of our incredible cohort. The AI Innovation Lab Summit Day is a perfect opportunity to highlight AI innovation, real-world problem-solving, and entrepreneurship. It’s inspiring to see how AI-focused business leaders are driving positive change,” said Alex Castrounis, Founder & CEO of Why of AI. 

​​“1871’s AI Innovation Lab has played a pivotal role in accelerating the growth of some of the most promising AI startups. At the AI Summit, corporate leaders will have the unique chance to network with these groundbreaking startups and industry visionaries. As a flagship event of Chicago AI Week, the Summit gathers the brightest minds in AI to delve into today’s most exciting innovations and offer a strategic perspective on the future of AI,” said Xiaochen Zhang, member of the Board of Advisors and Execution Partner of the 1871 AI Innovation Lab, and Chief Responsible AI Officer of AI 2030. “We are thrilled to announce a joint initiative between AI 2030 and 1871 to launch the AI 2030 Chicago Hub at the Summit. 1871 has been an incredible catalyst in Chicago’s entrepreneurial ecosystem. The Summit will significantly contribute to the broader efforts in making Chicago a global tech hub.”

“At 1871, we’re at the forefront of accelerating AI innovation, thanks to the collaborative efforts of our AI partners, vibrant community, and dedicated cohort,” said Betsy Ziegler, CEO of 1871. “Chicago, with its rich history of innovation, diverse talent pool, and concentration of customers, is the ideal place to lead this charge. The AI Summit is a unique opportunity for visionary startups, established corporations, investors, and industry leaders to come together, exchange transformative ideas, and explore the vast potential of artificial intelligence. This summit embodies our commitment to shaping the future of AI and driving revolutionary advancements across industries worldwide.”

 

Summit Agenda

The Summit will take place on 6.27.24, with the option to attend in person at 1871 in the Merchandise Mart or virtually from 9:00 AM – 6:00 PM CST. Note that while attendees can watch virtually, only a select group of events will be live-streamed. In-person participation is highly recommended to access full programming & networking opportunities available.  

Attendees will gain insights into the latest AI trends and technologies, with focuses on ethical AI governance and practices, infrastructure, and AI use case development and execution. The Summit is a complementary event to Chicago AI Week. Registration is required to participate in this event. 

 

Event details

  • Refreshments: Breakfast, lunch, and happy hour 
  • Expert-led panel discussions
  • Interactive breakout workshops 
  • Startup pitch competition
  • Startup expo
  • Keynote
  • Networking

Ticketing information

This event is free to 1871 Members, with purchase options available for non-members. See ticket options here & register to attend.   

1871’s 2024 InsurTech Innovation Summit will also run on the same day for separate curated programming. 

For information regarding joining the Summit as a sponsor or partner, please get in touch with corpinno@1871.com. Subscribe to stay up-to-date on 1871’s Innovation Labs programming & news. 

 

About 1871 

1871, a nonprofit global innovation hub, exists to inspire, equip, and support early-stage, growth-stage, late-stage, and corporate innovators in building extraordinary businesses. 1871 is home to ~500 early-stage startups, ~250 growth and late-stage companies, and ~60 corporates, and is supported by an entire community focused on accelerating their growth and creating jobs in the Chicagoland area. The member experience includes virtual and in-person access to workshops, events, mentorship, and more. The nonprofit organization has 350 mentors available to its members, alongside access to more than 200 partner corporations, universities, education programs, accelerators, venture funds, and others. Since its inception in 2012, more than 1,050+ alum companies are still active, have created over 14,700 jobs, and have raised more than $3.7 billion in follow-on capital.

 

About Why of AI 

Why of AI specializes in helping organizations quickly gain clarity and confidence by designing customized AI strategies, use cases, and prioritized roadmaps.

About FinTech4Good

FinTech4Good is a global responsible innovation network that works with public and private sector organizations to develop, invest and implement solutions for a better world. FinTech4Good Venture University is the education, venture building and solution acceleration arm of FinTech4Good.

For media inquiries, please contact:

J Blaszczykiewicz, Head of Marketing 

j@1871.com 

press@1871.com 

alex@whyofai.com 

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FOR IMMEDIATE RELEASE

CHICAGO — May 28, 2024 — Non-profit global innovation hub 1871 is thrilled to announce that nominations are now open for the highly anticipated 17th Annual Momentum Awards. This prestigious event, celebrating excellence and innovation in the Chicagoland and Illinois tech community, is set to take place on September 19, 2024. Nominations are now open until June 12, 2024. 

The Momentum Awards, a cornerstone of Chicago’s tech community, recognizes outstanding individuals, team leaders, and companies who disrupt their industries and drive societal impact and economic growth within the tech sector. 1871 and the greater Chicagoland and Illinois community honor these trailblazers in 8 award categories. 

“Exciting times lie ahead as we open the gates for nominations,” said Betsy Ziegler, CEO of 1871. “Our tech community has showcased incredible innovation and impact across diverse industries, technologies, and functions this year. We’re thrilled to welcome nominations from all corners of Chicagoland, eager to shine a spotlight on the outstanding companies and individuals driving our collective journey forward. Join us as we celebrate and recognize the transformative power of innovation.”

Nominations are open to individuals and organizations across various sectors, including early, growth, and late-stage startups, corporate innovators, and community leaders. Finalists and winners will be selected by a panel of esteemed judges representing diverse expertise and perspectives within the tech ecosystem. 

1871’s 2023 Momentum Awards winners were an array ​​of visionary startups, corporate innovators, and companies who have made significant strides in advancing technology and entrepreneurship. From groundbreaking products and services to impactful initiatives and leadership, each awardee exemplifies the spirit of innovation and resilience that defines Chicago’s tech landscape.

 

Award categories 

Rising Star: Presented to an early-stage company that is positioned to grow into a leader in its market. 

Momentum: Presented to a growth company with the strongest potential to emerge as a leader in its market.

CityLIGHTS: Presented to a late-stage company that is becoming a category leader.

Outstanding Tech CEO: Presented to a CEO who has successfully scaled and nurtured their company through outstanding leadership.

Industry Disrupter: Presented to a company that has developed an innovative product that has the potential to significantly disrupt their industry. 

Social Impact: Presented to a company that has fostered a commitment to DEI, community contributions, and social impact.

Corporate Champion: Presented to a company that champions the growth of the Illinois tech industry through community-focused action. 

Chicagoness: Presented to an individual who exemplifies the values of the Chicago entrepreneurial community & empowers future innovators.

Rising Star, Momentum, CityLIGHTS, Outstanding Tech CEO, and Social Impact are open to public nomination and voting; The Corporate Champion and Chicagoness awards are closed to public nomination and voting, and will be determined by a selected committee. 

To learn more about the significance of The Momentum Awards, its award categories, and how to submit a nomination, attend an information session on June 6th or June 7th 2024. 

Nominations are now open to the public for several award categories. Multiple entries accepted. Submit by 6.12.24 for consideration.

For sponsorship opportunities, contact momentum@1871.com and visit our website to view  sponsorship guides and year-long benefits. 

For media inquiries, please contact J Blaszczykiewicz, Head of Marketing at press@1871.com.

 

About 1871 

1871, a nonprofit global innovation hub, exists to inspire, equip, and support early-stage, growth-stage, late-stage, and corporate innovators in building extraordinary businesses. 1871 is home to ~500 early-stage startups, ~250 growth and late-stage companies, and ~60 corporates, and is supported by an entire community focused on accelerating their growth and creating jobs in the Chicagoland area. The member experience includes virtual and in-person access to workshops, events, mentorship, and more. The nonprofit organization has 350 mentors available to its members, alongside access to more than 200 partner corporations, universities, education programs, accelerators, venture funds, and others. Since its inception in 2012, more than 1,050+ alum companies are still active, have created over 14,700 jobs, and have raised more than $3.7 billion in follow-on capital.

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ScaleUp 2024 Unpacked - A Technology Conference for Innovative Founders & Inspiring Leaders

In the heart of Chicago, a city renowned for its resilience and transformative spirit, 1871 hosted its 7th annual ScaleUp technology conference this May to celebrate the thinkers and doers who are redefining the tech landscape.

Go to our Five Essential Takeaways As You Build & Scale in Today’s Market below.

Designed specifically for growth and late-stage founders, team leaders, and innovators who typically are “heads down” in their work, this year’s ScaleUp was an active day of programming and networking. The day was  a resounding success, bringing together the brightest minds in tech for a day of innovation, community, and transformative insights across industry and function.

“Today is designed to support you on this phase of your journey and your team’s journey. It’s where your initial spark of an idea undergoes this rigorous test of market realities and customer demands,” said Betsy Ziegler, CEO of 1871. “ It’s a series of peaks and valleys, and each valley is a lesson that strengthens you for the next peak. Keep pushing, keep doing, keep asking for help. The future isn’t just something that happens, it’s something we create together.” 

From opening remarks to the closing keynote with Jaron Waldman, Chief Product Officer of Cohere, the event was packed with dynamic panels, interactive workshops, and inspiring discussions about navigating challenges, celebrating successes, and embracing the “messy middle” of building, scaling, and leading a business. 

Relive the best moments of the day in our 2024 ScaleUp technology conference playlist!

ScaleUp 2024 Unpacked: Five Essential Takeaways As You Build & Scale in Today’s Market

The energy and enthusiasm of this year’s speaker lineup was palpable as founders, leaders, and innovators shared their professional journeys, challenges, and success. Beyond their impressive career paths and note-worthy accomplishments, the message was clear: being a founder & leader in today’s market is A JOURNEY!

Here are 5 key takeaways from founders and leaders that YOU can use as you continue to build your company and take it to new heights. 

1. Embrace the “messy middle”

In a panel discussion moderated by David Soto, Chief Investment Strategic Officer at Azelera Capital, panelists Tessa Flippin, Founder & Managing Partner at Capital VC, Aashish Dalal, General Partner at Venture Studio, and Mike Rome, Fractional CMO & CGO, Startup Advisor at Moonwater, discussed the challenges of being a startup and the opportunities for growth in ‘Breaking Through the Messy Middle.’ 

The “messy middle” is a challenging phase in a startup’s journey where initial excitement has faded, and the hard work of scaling begins. The panelists discussed maintaining mental resilience, embracing difficulties, and continuously adapting their strategies and products based on customer feedback, retention, and market demands. 

According to Rome, successful startups often have teams that are disciplined in their approach, consistently prioritize and execute growth experiments, and learn from failures. 

2. The power of culture, community, and balance in startups

In ‘Leading a Startup to A Scaleup’ leader panel discussion, panelists Cindy Don, Head of Software Engineering at Pangea Money Transfer, Varvara Alva, COO & CFO of Avid Bots, and Whitney Capps, Principal of ClearSpace discussed the important factors of elevating a startup for growth and success. 

According to the group, critical success factors for scaling companies is finding the right balance between flexibility and structure in the startup, building intentional culture, and supporting employees to deter from burnout.

Flexibility is vital in the early stages for quick pivots and innovation, while structure becomes necessary as the organization grows to ensure accountability and efficient operations. Teams need clear goals and boundaries to explore within, promoting innovation without risking the stability of the business.

A company’s culture should also be more than just mission statements and perks; it should be reflected in everyday actions and decisions. Maintaining a strong, inclusive culture requires consistent efforts to integrate new employees, celebrate small wins, and model the desired behaviors. 

Kirsten Ramos, President at Elevate suggested similar approaches in her breakout workshop, ‘The Art of Managing Others.’ 

Supporting employee well-being involves creating spaces for social connection, recognizing individual contributions, and maintaining a healthy work-life balance. Leaders should strive to create an environment where employees feel seen, heard, and supported both professionally and personally.

3. Build & rebuild your “dream” team

In ‘Leading a Startup to A Scaleup” founder panel discussion, moderator Caroline Vial, PhD, Founder & CEO at Upward Bound Executive Coaching, and panelists Liz Tilatti, Fractional Executive & Advisor at Liz’s Lab, Jeremie Bacon, Co-Founder at The Forge, and Olivia vonNieda, VP Business Operations at McKesson, shared their personal insights on running a startup and the importance of having the right people by your side. 

The journey from startup to scaleup involves continuous challenges, and founders and leaders alike need to recognize that different phases of growth require different skill sets and team structures. 

According to the group, a successful startup must be open to replacing team members and hiring new ones with the appropriate skills for the current stage of the company. The founder’s role is to navigate this process honestly and strategically, ensuring that the team evolves to meet new demands and goals.

This may involve making tough decisions about when to hire or fire, making efforts to build strong relationships with team members, and aligning the individual’s skills and strengths with the company’s growth trajectory — yes, including your investors. 

4. Identify and engage your ideal consumer with emotional appeal

In ‘Brand Talk: How to Scale Up by Standing Out’  breakout session led by Scout Driscoll, Founder & CEO @ DesignScout, Faith Hurley, Co-Founder @ Pinpoint Collective, and Amanda Wurzbach, Founder & Creative Lead @ Total Dish, discussed the importance of standing out as a brand to connect with your ideal consumers. 

According to the trio, branding is about creating an emotional connection with consumers, as people often make purchasing decisions based on feelings rather than rational thoughts. Successful branding starts with a deep understanding of the ideal consumer and conducting qualitative research to understand the motivations and needs of the target audience. 

By focusing on the whole person and their lifestyle, brands can create personalized, “made for me” moments that resonate deeply with consumers. This approach helps in developing a brand that speaks directly to the target audience’s needs and preferences, leading to a stronger emotional connection and brand loyalty.

5. Build fast, grow smart: Navigating early innovation & organizational growth

Our closing keynote with Jaron Waldman, Chief Product Officer of Cohere was nothing short of inspiring! With his professional background of building,scaling, and leading several successful businesses, Waldman emphasized the importance of diving into building and iterating quickly, especially in the rapidly evolving AI and large language models (LLMs) space. 

During periods of rapid growth, Waldman underscored the importance of surrounding oneself with capable and ambitious people who can take on new responsibilities. He advised leaders to delegate effectively, support their team members, and embrace the inevitable chaos that comes with rapid expansion. Trusting and empowering the team is crucial to managing growth and maintaining momentum!

Thank you to all the incredible speakers, attendees, and innovators who made ScaleUp 2024 a huge success. From groundbreaking insights and inspiring keynotes to invaluable networking opportunities, this year’s conference was all about driving growth and innovation.

This day would not have been possible without the support from our sponsors Invest Northern Ireland, Google for Startups, and T-Mobile Wholesale. 

We can’t wait to see you next year for ScaleUp 2025, where we’ll bring you even more transformative ideas and growth-centered programming to life. 

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1871 & BMO Announce the 5 Women-led Fintech Startups Joining the 2024 Cohort for Exclusive Programming & Industry Connections

1871 & BMO are proud to announce the five women-founded fintech startups participating in the 5th cohort of their award-winning program, WMNfintech. 

WMNfintech is North America’s largest non-profit fintech industry program for women-founded & women-led startups. Since launching in 2020, women-led fintech startups who have participated in this program have raised more than $35M in capital and created 200+ jobs in their respective fields. 

Starting in May, the cohort will further develop their services and solutions through the program’s tailored product, business development, and entrepreneurial programming. Each cohort member will also receive exclusive mentorship from BMO executive leaders to help navigate startup fundamentals, including pitch practice and potential access to capital and funding. 

About the program

Participants in this cohort are high-potential, early-stage women entrepreneurs whose startups exhibit exceptional promise in their future development and amplification in the financial sector.  

The cohort meets for one week of programming in May, June, and July 2024, culminating in September for the program’s final showcase at BMO’s Bay Area office. They’ll have the opportunity to share their business solutions and services with various stakeholders, banking partners, regulators, and trade groups for feedback and support. 

The five women founders will have access to 1871’s early-stage membership benefits, including educational programming designed to meet each founder’s unique needs and access to its pool of 150+ mentors and community members. Cohort members will also participate in deep dives and fintech-amplified workshops led by BMO leaders. 

Cohort members will be introduced into the powerful community of WMNfintech alumni, financial institutions, venture capitalists, and industry leaders for future networking opportunities. 

WMNfintech 2024 Cohort Members 

Amy Chou, Chief Product Officer at Addition Wealth

Addition Wealth is a financial wellness company that makes personalized financial expertise inclusive and accessible. We partner with companies, including financial institutions and insurance providers, to give individuals free access to digital financial experiences. Through our platform, we create meaningful relationships with people, empowering them to make smarter financial decisions and make the most of their money.

Alice Reimer, CEO of Fillip Fleet Inc 

Fillip Fleet is a modern shift in the way businesses deal with fuel and vehicle expenses. It finally puts control in the hands of the business — making the process simple, reliable, and more economical. 

Prarthana Gupta, CEO & Founder of OrdrSmart 

OrdrSmart tackles B2B manufacturers’ customer acquisition challenges by streamlining operations, cutting costs, and boosting revenue for over 600,000 manufacturers managing 10M+ product samples annually. Our software bridges the gap between an organizations CRM and ERP system to become the sourth of truth of product data throughout its lifecycle. 

Maya Urman Bahar, CEO & Co-Founder at Proov.ai

Proov.ai is disrupting the FinTech regulation market by automating the validation process of Artificial Intelligence (AI) and even simple models, bridging the gap between data science and compliance teams.

Claudette McGowan, CEO of Protexxa 

Protexxa is a B2B SaaS cybersecurity company that connects the dots between personal cyber hygiene and business risk. Using artificial intelligence (Al), the Protexxa Defender platform rapidly identifies, evaluates, predicts, and resolves common cyber vulnerabilities.

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SnapRefund and Benekiva Announce Game-Changing Partnership to Revolutionize Insurance Claims Process

April 17, 2024 – In a landmark move set to transform the insurance industry, SnapRefund and Benekiva are excited to officially unveil their partnership, heralding a new era in the seamless processing and management of insurance claims. This collaboration marries SnapRefund’s leading-edge digital payment solutions with Benekiva’s pioneering claim management software, creating an unparalleled ecosystem for insurance carriers and claimants alike. 

SnapRefund, known for its innovative approach to simplifying the insurance payout process through its ClaimsSnap technology, has joined forces with Benekiva, a powerful company in the claims management solution sphere. This partnership is poised to address the entire spectrum of the insurance claim process, from initiation through to final payout, establishing a benchmark in digital efficiency and customer satisfaction. 

Bobbie Shrivastav, Co-Founder and Chief Operating Officer at Benekiva, expressed enthusiasm about the collaboration: “We’re proud to announce our collaboration with SnapRefund and their innovative ClaimsSnap product, aligning our shared commitment to revolutionizing the digital landscape of insurance claims. Benekiva’s platform digitizes every step of the claims process, from intake to payout, empowering carriers to offer seamless digital payment solutions to claimants. With our integration, we’re bridging the gap between traditional insurance practices and modern customer expectations, ushering in a new era of efficiency and convenience in claim processing.” 

Echoing the sentiment, Cody Eddings, CEO of SnapRefund, outlined the transformative potential of this partnership: “We are thrilled to announce our groundbreaking partnership with Benekiva. SnapRefund’s value in the insurance space has long been to digitize the claims payment process for insurers thanks to the innovation of our flagship product: ClaimsSnap. Our teams have worked closely to create a seamless integration between the Benekiva and ClaimsSnap platforms from the ground up, making it very easy for our mutual clients to leverage the strengths of Benekiva’s claims management system in tandem with the ClaimsSnap payment platform. Together, our partnership allows carriers to meet claimants wherever they are, all while gaining useful insights and employing vastly streamlined workflows. The future is certainly bright.” 

About Benekiva: 

Benekiva’s SaaS technologies seamlessly connect to any legacy, out-of-the-box, or custom-built policy management system to provide a collaborative and automated single claims platform. From intake to payout, and everything in between, Benekiva can become the claims solution for your entire product portfolio including life, annuity, long-term care, and disability products. Benekiva works closely with stakeholders to create a scalable plan using our crawl, walk, run implementation methodology so carriers can begin realizing the value of their investment within weeks, not months or years. 

About SnapRefund: 

SnapRefund is at the forefront of digital payment solutions in the insurance sector, offering the ClaimsSnap platform that allows insurers to send claim payments with unparalleled ease, employing automation and analytics to elevate operational efficiency and enhance policyholder retention. SnapRefund is committed to financially empowering individuals & businesses and providing them with more control over their finances.

 

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Building the Future of Web3: How Decentralization is Empowering Industries and Communities

As the digital landscape witnesses a transformative era with the adoption and acceleration of Web3 technologies, 1871 got in on the action and hosted its first-ever Web3 Innovation Summit on 4.17.24!

In execution with U.S. Blockchain Coalition, Fintech4Good, and WTIA Advanced Technology Cluster,  the Summit united key players and industry leaders in Web3, including pioneering startups, investors, and corporate partners for a day dedicated to collaboration & innovation. 

Over a full day of programming and immersive discussions, 1871 and its expert speakers held attentive and collaborative sessions on Web3’s  impact on the future, focusing on the empowerment of industries through decentralization, while acknowledging the promising state of this technology. More on the themes of the day, below!

Watch the best highlights & industry insights in our 2024 Web3 Innovation Summit recap playlist! 

The core of Web3: decentralization & the power of governance

Charles Hoskinson, Founder & CEO at Input Output Global, opened the Summit with a keynote discussion on the importance of governance in the ever-evolving Web3 world. 

Web3 is a shift from traditional centralized systems to decentralized networks, where governance is distributed among users rather than controlled by a single entity. As our society continues to rewrite the history of  Web3’s integration, Hoskinson emphasized the importance of a collaborative governance — ensuring that its distributed among users and  belongs to a collective, rather than controlled and evaded by regulatory measures by a single entity.

This fundamental shift promises to enhance transparency, security, and integrity within its key players. 

Web3 innovators @ our startup alley and pitch showcase

Startups pioneering in Web3 were buzzing in our Startup Alley and pitch showcases, where attendees had the opportunity to get an insider-look at the amazing services and products being built by 1871’s 2024 Web3 Innovation Lab cohort.  

Congratulations to our pitch winner FreshCredit, and fan-favorite, My-Legacy.ai! 

Web3's impact on tech & communities

The financial sector is one of the primary beneficiaries of Web3 technologies. Lauren Thorbjornsen, Chief of Staff and VP of Communications at Stellar Development Foundation gave an energetic presentation, emphasizing that blockchain technology is not just about technological advancements, but should be leveraged to solve real-world problems.

Platforms like Stellar are optimizing blockchain to create more inclusive financial systems with low fees, fast transactions, and enhanced traceability, helping all receive their money without the complexities and hassle of old technology.

The need for education & regulation

Web3 isn’t going to evolve on its own – “this is just the beginning,” according to Thorbjornsen. And no, Web3 is not a get-rich-quick scheme or other commonly heard misconceptions! 

Despite the enthusiasm surrounding Web3, widespread adoption faces hurdles, especially due to regulatory complexities and a lack of understanding among the general public. Web3’s panel discussions, ‘Web3 in Action: Real-World Web3 Use Cases’ & ‘What Needs to Be Done for Web3 Mass-Adoption’, candidly discussed the critical need for advocacy and education, alongside community engagement to foster a deep understanding and trust in Web3 technologies.

Panelists include: 

Web3’s evolution is dependent on developing governance models that can adapt and scale. The future of Web3 lies in its ability to integrate with existing systems and markets, overcoming technical and regulatory barriers while demonstrating clear use cases that benefit a wide range of users.

Embracing change and navigating the future

Jeff Gaus, Founder & CEO of The Provenance Chain Network closed out the Summit and expanded the narrative on Web3, portraying it not just as a technological innovation but as a pivotal shift involving a new suite of technologies and governance models. 

Gaus emphasized that Web3 should focus on delivering concrete outcomes, urging attendees to think beyond the tools to the satisfaction and results they bring. Highlighting the substantial financial investments flowing into Web3, Gaus also discussed its transformative potential, particularly in enhancing supply chain transparency, traceability, and efficiency. 

What’s the future of Web3 for Gaus? He compared the evolution of Web3 to the historical development phases of the internet and computing, suggesting a future where Web3 is seamlessly integrated into mainstream business and governance frameworks.

 As we navigate this new landscape, the combined efforts of developers, regulators, and the community will be crucial in shaping a technology ecosystem that is both innovative and inclusive. The journey of Web3 is just beginning, and its true potential is only starting to be realized! 

Thanks to all who joined us for our 2024 Web3 Innovation Summit. This day would not have been possible without the support from Fenwick, Hyperledger Foundation, Global Blockchain Business Council (GBBC),  Genesis Block,  Wave Digital Assets, Chainlink, EX3 Labs, Decasonic,  World Business Chicago, Alphabit, ETHChicago, Global DCA, and  T-Mobile Wholesale.  

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