Next Wave of Deep Tech Innovators Selected for Phase 2 of Alchemist Chicago

Alchemist Chicago — the deep tech accelerator partnership between the University of Chicago’s Polsky Center for Entrepreneurship and Innovation and Alchemist — today announced the startups selected for Phase 2 of its inaugural cohort.

These companies represent breakthrough innovations across quantum computing, artificial intelligence, biotech, and other foundational technologies, and will participate in Alchemist’s flagship six-month program designed to accelerate fundraising outcomes, expand enterprise traction, and prepare startups for scalable growth.

Selected from a competitive pool of nearly 400 applicants, Alchemist Chicago’s Phase 1 featured 27 startups representing more than 10 cities and five countries. Following the program’s customer validation and proof of concept curriculum, startups in Phase 2 have demonstrated exceptional technical strength, market potential, and readiness for commercialization

“Alchemist Chicago was built to help deep tech founders bridge the gap between breakthrough science and real-world impact,” said Samir Mayekar, managing director of the Polsky Center. “These teams have shown not only technical excellence, but also the discipline and market focus required to build lasting companies.”

Phase 2 of Alchemist Chicago is designed to help founders sharpen commercial readiness, build traction, and prepare for fundraising by aligning technical innovation with clear customer value. During this phase, teams receive customized 1:1 coaching, curated investor introductions, and direct access to Alchemist’s global investor and enterprise network, culminating in Demo Day in May 2026.

“This is where we see founders translate their technology into compelling commercial opportunities,” said Shyama Majumdar, senior director of science accelerators and investments at the Polsky Center. “These startups are tackling some of the hardest problems in science and engineering, and this next phase provides the tailored support, capital exposure, and partnerships needed to move from proof to market.”

QodeX Quantum and SQK, two startups participating in Alchemist Chicago, also benefit from the University of Chicago’s collaboration with IBM Ventures to advance quantum computing software and algorithm development through Duality, the nation’s first quantum startup accelerator.

Through this collaboration, these startups will have access to IBM technical expertise, plus funding support, and may gain access to IBM’s cloud-based quantum computing resources, including the opportunity to work on the IBM Quantum System Two that’s planned to be deployed at the Illinois Quantum and Microelectronics Park (IQMP).

“We’re looking forward to collaborating with Qodex Quantum and SQK and equipping them with the resources, mentorship, and strategic connections they need to succeed,” said Emily Fontaine, global head of venture capital at IBM. “By providing access to IBM quantum technology, valuable networks, customer ecosystems, and clear pathways to practical applications, we aim to help these founders drive sustainable, long-term growth. This effort is strengthened by the University of Chicago’s collaboration with IBM, which reflects our shared commitment to advancing breakthrough technologies and accelerating real-world impact through quantum computing.”

Launched last year, Alchemist Chicago combines Alchemist’s global track record of launching category-defining B2B companies with the University of Chicago’s research leadership, national laboratory affiliations, and commercialization expertise.

Alchemist Chicago operates as part of Alchemist’s flagship accelerator platform, enabling founders in the Midwest and beyond to tap into a global venture ecosystem while remaining closely connected to the University of Chicago’s research enterprise. The program is open to founders worldwide, with no University affiliation required.

“Deep tech – the novel bits, atoms and science powering the future’s most impactful innovations – has never been more relevant or important,” said Ian Bergman, partner and managing director at Alchemist. “We’re thrilled to see a group of founders who have shown remarkable vision and momentum advance to Phase 2 of Alchemist Chicago, joining Alchemist’s flagship Class 41 and accessing the network, resources, and community that will help them take the important next steps on their journey.”

Meet the teams selected for Phase 2:

• Etat’H Solide Inc. // Etat’H Solide develops EcoFoam and EcoMold technologies that lighten plastic parts by up to 40% without losing strength.
• K1 Semiconductor // K1 Semiconductor is a deep-tech company pioneering a semiconductor wafer-splitting platform technology that enhances the efficiency and economics of advanced chip manufacturing.
• Luce Labs // Luce Labs is building the world’s first AI-powered precision agriculture platform designed for optimizing flavor. 
• PeraWatt // PeraWatt is an advanced materials startup developing next-generation magnetic materials to dramatically improve energy efficiency in power-hungry systems.
• Popper Power // Popper Power transforms streetlights into smart, V2G-enabled EV chargers with battery storage and grid intelligence—providing cities and utilities affordable, scalable, and equitable curbside charging.
• QDIR, Inc. // QDIR is enabling exquisite thermal sensing at the edge of battle and manufacturing by bringing F35 quality infrared sensors to small drones at small drone prices.
• QodeX Quantum // QodeX Quantum provides quantum-native AI models and a platform to train and deploy them at scale – faster, cheaper, and beyond classical limits.
• Qoro Quantum // Qoro Quantum develops the network stack for scalable, distributed quantum computing. With software that automates how quantum programs are prepared, optimized, and executed across heterogeneous hardware — from CPUs and GPUs to quantum processors — making it easy for researchers and enterprises to run quantum workloads efficiently at scale.
• Slideflow Labs // Slideflow Labs, a University of Chicago spinout, is an integrated hardware-software AI platform for hospitals, pharmas, and biotechs to develop precision oncology biomarkers.
• SQK INC // SQK Inc. is a US–Canada–Korea deep-tech startup developing quantum–AI hybrid computing solutions for precision medical imaging and related applications.

Alchemist Chicago is supported by program sponsors G2C Venture Partners, IBM, and McAndrews Held & Malloy. To learn more about the program, visit www.alchemistaccelerator.com/alchemist-chicago.