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Growth for All
Growth for all will be the most critical factor in transforming Chicago into a top-tier technology hub.
Growth for all will be the most critical factor in transforming Chicago into a top-tier technology hub.
The key to our region’s future is connecting all of Chicago to high-wage tech careers, capital, and resources for entrepreneurship. We are aggressively focused on the development of skilled workforces as we foster the growth of bleeding-edge industries. Community engagement, private-public coalitions, and commercial dollars will all play a major role in creating an undeniably robust economy.
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Chicago has a once-in-a-generation opportunity to transform our IT workforce and communities by harnessing the $40 billion in annual IT spend from Chicago’s anchor companies. Instead of sending these dollars overseas, Xchange Chicago presents a unique opportunity to solve IT needs and grow the local workforce in Chicago, starting on the South Side in the Grand Crossing neighborhood. Xchange Chicago is a groundbreaking onshore IT delivery center built in partnership with Chicago’s communities, leveraging an apprenticeship model to train local talent, solve real business challenges, and revitalize the South Side neighborhoods. By aligning corporate demand for IT services with local tech talent and apprenticeships, Xchange Chicago is creating a scalable and sustainable model for local innovation and regional growth that positions Chicagoland as a national leader in innovative economic development.
By leveraging existing momentum and focusing on capital accessibility, Chicago can emerge as a leading venture ecosystem. P33 knows a venture economy that welcomes all will propel regional prosperity — and we’ve been building initiatives to reach that goal since 2019:
TechRise by P33 has deployed $3M in grant funding to underrepresented Chicago founders, and helped those founders raise over $160M in follow-on funding.
Speed Round gives founders access to expert-led workshops, investor-led Q&A sessions, and the tools and frameworks to help them grow and scale their businesses.
CommonApp is a centralized platform for startup programming, investor outreach, and deal flow that connects national investors with Chicagoland founders to deliver efficient access to resources and capital.
Velocity is a $50M hyper regional hybrid fund designed to help close the $300M+ early stage funding gap that disproportionately affects excluded founders and funders every year.
P33 serves as conveners and collaborators for Chicago-area tech enterprises, empowering these businesses to cultivate tomorrow’s workforces. We recognize the crucial role of human capital in shaping the future success of individual companies and our civic economy as a whole. That’s why we focus coalitions, funding, and programs that empower employees as much as enterprises:
The Tech Talent Alliance consists of 40 companies deeply committed to building more pathways into technology roles for all Chicagoans.
At the end of 2022, Chicago received one of 32 Good Jobs Challenge Grants from the U.S. Economic Development Administration. The $3.4M grant supports apprenticeships and training in high-wage jobs across Chicago.
Strong Start brings leading tech companies into college computer science classes to give students hands-on experience with real-world projects. The program has reached more than 900 students to-date in partnership with 4 regional universities and 10 Chicago-based companies.
Underlying all of P33’s work is a focus on telling a cohesive narrative of our world-class workforce, continuous innovation, and unwavering vision for a top-tier technology hub. Platforms like TechChicago amplify our city’s culture, access, opportunities, and conversations to create community and positively impact Chicago’s story. Core events like TechChicago Week, Chicago Climate Tech Week, and TechChicago Capital Summit have become cornerstones of the Illinois tech community. These events provide space for collaboration throughout our ecosystem — and have helped boost Chicago’s Net Promoter Score by 40+ points since 2018.
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