Jim: Hey gang. Before we begin today’s Beat, a quick reminder: Chicago Inno has an events directory full of tech meet-ups across the city, and a careers directory with job opportunities at top local companies. Check both of those resources out to keep yourself plugged into the tech community.
Alright, let’s kick a Beat…
The Big One
A breakdown on the day’s biggest Inno story.
Katherine: Two months after Howard Tullman announced his replacement at 1871, the Chicago entrepreneur and tech investor is ready for his next challenge. Jim, what’s the Chicago serial entrepreneur up to now?
Jim: The Illinois Institute of Technology announced today that Tullman will be the first executive director for the school’s Ed Kaplan Family Institute for Innovation and Tech Entrepreneurship. Tullman, who became the CEO of 1871 in 2013, officially left the Chicago incubator and tech hub this month.
Tullman will now be tasked with leading a new innovation hub, this time at the university level. The Kaplan Institute will be a “hub for discovery, innovation, and business creation,” the school says. The 70,000-square-foot space, which is expected to open in October, will help give students the resources they need to get their businesses off the ground.
“It’s really a fresh start,” Tullman told me. “This will be a hub to bring together all the schools at the university, all the departments, all the expertise into a place to provide entrepreneurial and innovation training for all these engineers.”
Tullman, 72, is known as one of the city’s most accomplished serial entrepreneurs. He has founded more than a dozen companies, including CCC Information Services and Tribeca Flashpoint College. Tullman will begin his new role on May 1.
Read More: Howard Tullman to Lead Innovation Hub at Illinois Institute of Technology
Inside the people, companies and organizations making moves in Chicago.
Jim: Uptake announced Monday that is has acquired Asset Performance Technologies, a company founded in 2004 that’s built a comprehensive library of equipment failure data, which companies in power, petrochemical, oil and gas, steel and other industries use to develop preventative machine maintenance strategies. Terms of the deal were not disclosed. This is Uptake’s second acquisition; it acquired Canadian software company CanAm in 2016. More here.
Katherine: Tiana Epps-Johnson, founder of the Center for Technology and Civic Life, and Dominique Jordan Turner, CEO of the college access program Chicago Scholars and a former member of the Chicago Board of Education, were selected as two of 20 civic innovators for the first class of Obama Fellows, an initiative launched by the Obama Foundation that aims to help cultivate leaders. More here.
Jim: Target is launching a same-day delivery service for in-store purchases in several urban markets, including Chicago, by the of this month. The Minneapolis-based retailer is trying to persuade more of their urban customers to buy large and heavy items, like bulk beverages and furniture, who normally wouldn’t because those items are difficult to get home if they are walking or taking public transit. More here.
Katherine: Tech entrepreneur and investor Michael Ferro is selling his 26 percent stake in the Chicago Tribune’s parent company Tronc for $208.6M to McCormick Media, a group with ties to the family of the late Colonel Robert McCormick, a longtime publisher of the Tribune. More here.