The University of Chicago is renowned for its commitment to field-defining basic research—work that can lay the foundation for development of new products, services and solutions. The Polsky Center for Entrepreneurship and Innovation is the central resource for transferring these groundbreaking ideas and discoveries outside the University to the world at large. In just the last two months, this work has been exemplified by a string of exits—a business term meaning beginning the next phase of growth—by three UChicago startups: Pyxis Oncology, Explorer Surgical and NowPow.

An exit marks a new phase for a company as it grows and early investors see a return on their money, typically through an initial public offering of stock, a merger or an acquisition.

“These are compelling ideas that are changing the world: Treating cancer. Delivering better health care more efficiently. Providing resources to those in need,” said Juan de Pablo, vice president for national laboratories, science strategy, innovation and global initiatives at the University of Chicago.

“When faculty and students come up with ideas that will help millions of people, the University must make sure that these ideas reach society,” he said. “The fact that these companies are worth millions of dollars serves to emphasize that they have developed solutions that people care about. It also serves to remind us that markets place a value on the efforts of these researchers.”

Read more at UChicago News