The University of Chicago Partners with Bay Area Accelerator to Launch Alchemist Chicago

Combining the strengths of Alchemist’s global network and the University of Chicago ecosystem, Alchemist Chicago will position breakthrough innovations for real-world impact.

Alchemist Accelerator, one of the world’s leading enterprise-focused startup accelerators, has joined forces with the University of Chicago’s Polsky Center for Entrepreneurship and Innovation to launch Alchemist Chicago — a new deep tech accelerator built to take scientific breakthroughs from lab to market.

This first-of-its-kind collaboration combines the strengths of Alchemist’s global network and track record of launching category-defining B2B startups with the University of Chicago’s world-class research, national lab affiliations, and commercialization expertise.

“The launch of Alchemist Chicago joins a series of investments that together provide all the needed components for early-stage ventures to grow and thrive,” says Samir Mayekar, managing director of the Polsky Center. “Partnering with a Bay Area accelerator will bring a new perspective and opportunities to our startups here in the Midwest.”

Alchemist Chicago will support early-stage ventures across quantum, AI, cleantech, robotics, and other deep tech industries, transforming discovery into impact. It is open to global founders — no University affiliation required.

The program will run in two phases to validate and build traction, and get fundraising ready. Applications are now open and will close on September 5, 2025.

“We’re thrilled to encourage entrepreneurship around foundational technology,” says Ravi Belani, CEO of Alchemist Accelerator and a lecturer at Stanford University. “As software becomes increasingly commoditized with AI, the frontier of innovation is shifting toward deep tech. This program is designed to unlock the incredible resources of the University of Chicago to unleash applied innovation on a global scale.”

Founders will receive customized coaching and mentorship from domain experts, including entrepreneurial training from experts at the Chicago Booth School of Business. Teams will also have the opportunity to connect and onboard talent from the top-ranked business school.

Among other benefits are access to Microsoft and Google credits, the opportunity to receive up to $50,000 in investment, as well as connection to both UChicago’s and Alchemist’s extensive founder and investor networks.

“With ground-breaking research, startup support, funding, and dedicated space, the commercialization ecosystem on the South Side of Chicago has cemented itself as a critical force for innovation, and we’re excited to see it continue to flourish,” Mayekar added.

// To learn more, attend an upcoming info session and hear from Alchemist and Polsky Center representatives. For more information, visit alchemistaccelerator.com/alchemist-chicago.