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Illinois Innovation Venture Fund (INVENT) is sponsored by Illinois Department of Commerce and Economic Opportunity (DCEO). The Illinois Innovation Venture Fund (INVENT) is an equity capital program designed to expand access to capital for small businesses, with a focus on Capital Disadvantaged Business (CDB) owners, socially and economically disadvantaged individuals (SEDI), and industries aligned w…
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SCAM ALERT: DCEO has been made aware of organizations receiving fraudulent “notice of award” letters claiming to be from the Illinois Department of Commerce and Economic Opportunity. These are not legitimate notices from DCEO. If your organization receives a notice, please report it to the Federal Trade Commission and/or the FBI’s Internet Crime Complaint Center .
The Illinois Innovation Venture Fund (INVENT) is a $114 million direct equity capital program funded through the U.S. Department of the Treasury State Small Business Credit Initiative (SSBCI) and administered by the Illinois Department of Commerce and Economic Opportunity (DCEO). DCEO is committed to ensuring opportunities for founders and communities that have faced barriers to accessing capital.
The funds are expected to provide small businesses with the resources they need to sustainably grow and thrive, and to improve access to capital for traditionally underserved entrepreneurs.
INVENT is dedicated to ensuring that it supports investments in very small businesses (fewer than 10 employees); Capital Disadvantaged Business (CDB) owners and businesses owned and controlled by socially and economically disadvantaged individuals (SEDI); and businesses in industries aligned with the state's key sectors in our economic development plan. Visit SEDI and CDB and Key Sectors for additional information.
Illinois has a rich network of resources and leading research institutions committed to innovation. Through INVENT, we will help entrepreneurs leverage resources available to build successful businesses that will create jobs, grow our state’s economy, and serve as a catalyst for innovation that will make an impact in our communities and society at large. If your company is not ready for an equity investment, visit Resources .
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According to the current listing, eligibility includes: Businesses operating for at least three years with a clear plan to scale. Confirm the full requirements in the official notice before applying.
The current listing shows $114 million total program fund, individual award amounts not specified. Verify award ceilings, matching requirements, and allowable costs in the official notice.
Illinois Innovation Venture Fund (INVENT) accepts applications on a rolling basis — there is no single fixed deadline. Check the official notice for any cycle-specific review dates.
Illinois Innovation Venture Fund (INVENT) is funded by Illinois Department of Commerce and Economic Opportunity (DCEO). Verify program details on the funder's official page before applying.
Applications go through the funder's official portal — the Apply Now link on this page goes there directly.
Illinois's Federal Grant Support Program (Round 2) puts $16.9 million into a single, unglamorous job: paying the non-federal match that keeps competitive applicants out of federal competitions they would otherwise win. Awards run $10,000 to $2 million across roughly 30 recipients, on a rolling basis with no fixed deadline. As federal rules tighten and match requirements harden into eligibility gates, a 'grant to get a grant' is becoming one of the highest-leverage dollars a state can spend. Here is how the program works, who should pursue it, and why match funding is the quiet chokepoint in the 2026 federal landscape.
Read articleOn July 20, 2026, the EDA announced it intends to invest $169 million across six Regional Technology and Innovation Hubs — quantum, nuclear, critical minerals, biosecure manufacturing, pharmaceuticals, and forest bioproducts — after the Trump administration rescinded the Biden-era Phase 2 awards and reran the competition. Only two of the original winners survived. Here is the full breakdown of the six hubs, why four prior awardees were dropped, and what the re-award teaches regional coalitions about competing for the next round.
Read articleThe OpenAI Foundation is putting $100 million behind Breakthroughs to Follow-Through, a Common Health Coalition initiative aiming to at least double hepatitis C cure rates in eight states and localities within two years. Alabama, Illinois, Louisiana and Massachusetts go first, money flows to local collaboratives and nonprofits, and the grants are deliberately not tied to any one AI vendor. Here is what makes an organization fundable under it.
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