Categories: Chicago

IMEC launched Illinois Manufacturing Innovation Voucher Program

IMEC has launched a voucher program named ‘Illinois Manufacturing Innovation Voucher Program’ to helping small businesses in bringing innovation and technology into their processes. It is a match funding program that will award $25000 to the small businesses. The small companies will utilize the vouchers in the field of innovation, growth, and improvement.

The funded projects must be conducted in Illinois by the existing Illinois manufacturers having the number of employees between 5 and 500. It is the eligibility criteria for the Illinois Manufacturing Innovation Voucher Program. IMEC also mentioned the financial requirements for the program. The recipients will provide a cash match of 50% of the total project cost.

According to the press release of IMEC, the funding assistance must be approved before the starting of a project by a company. There are several types of projects that are eligible for this voucher program including: –

  • Legal Consultation projects
  • Research Assessment projects
  • Developmental projects
  • Technological implementation projects
  • Product commercialization projects
  • Testing projects
  • Experimental projects
  • Feasibility study projects

The companies can use the voucher to resolve technological issues. The main aim of the program is to bring innovation and market growth. There are three main areas of focus in this program including: –

  • Acceleration of technology adaptation
  • Identification and implementation of productivity improvements
  • Overcoming organizational growth barriers
Gabriella Remillard

Staff writer for the Chicago Morning Star

Recent Posts

Senate Democrats mock Biden for selling weapons to Israel

Some of President Biden's strongest Senate allies are calling on Israelis to end months of fierce fighting and criticizing the…

10 months ago

The biggest cities in Ukraine are struck by Russian missiles, leaving at least 4 dead and over 100 injured

Ukraine's KYIV — At least four people were killed and nearly 100 injured when Russian hypersonic ballistic missiles attacked Ukraine's…

10 months ago

Good News That’s Much Needed for Biden

The economy is making Americans feel a little more upbeat, especially when it comes to jobs and incomes, which could…

11 months ago

College Ventilation System Reveals Missing Man

The discovery of a decaying body inside a college ventilation system marked the tragic and unexplained end to a missing…

11 months ago

Following three Palestinian shots, a Vermont man was arrested

Following the shooting deaths of three 20-year-old Palestinian-American students in Vermont, authorities have detained a man. According to a news…

11 months ago

China is told to cease “COVID deception” due to the pneumonia outbreak by the US envoy

The United States ambassador to Japan, Rahm Emanuel, urged Chinese authorities "to abandon COVID deception" and demanded that China be…

12 months ago

This website uses cookies.