The Illinois Technology Association (ITA), the Chicagoland Entrepreneurial Center (CEC) and Excelerate Labs Partner to Drive Start-Ups

CHICAGO, IL--(Marketwire - May 26, 2011) - Heeding the call of Governor Quinn's newly announced Illinois Innovation Network, the Illinois Technology Association (ITA), the Chicagoland Entrepreneurial Center (CEC), and Excelerate Labs are pleased to announce their collaboration to provide support companies from the 2011 Excelerate Labs applicant pool.

"We received an overwhelming number and quality of applicants for the Class of 2011. There were so many entrepreneurs who need the support of experts and leaders, beyond what Excelerate Labs was designed to provide," said Troy Henikoff, Founder, Excelerate Labs. "We are so pleased to be working with the ITA and the CEC to make sure these companies have access to the community support they need to flourish, and further the growth of the local economy."

Among the benefits received from the CEC are:

• Access to CEC Office Hours during summer 2011 to develop and enhance sales and financing strategies
• Connections to CEC business advisors, mentors, and relevant resources around Chicago

Benefits offered by the ITA include:

• One-year free membership in the ITA including unlimited access to roundtable discussions, networking events, strategic advisory services, and more
• Co-Working and meeting space at TechNexus, incubation and start-up space in downtown Chicago
• Access to ITA OpenDoors advisory council of over 100 executives
• An opportunity for your company to be featured in the ITA Spotlight, a weekly e-newsletter highlighting 4 local companies

A group of 40 companies was selected by the groups for support, following a review of the applicants and results from interviews.

"ITA is a long-time supporter of the technology community of Illinois across the spectrum of company stages and vertical industries," said Fred Hoch, President, ITA. "From a good idea to leveraging the transformative nature of technology to revolutionize traditional industries, ITA works with companies everyday to accelerate business growth. We couldn't be more excited about collaborating with the CEC and Excelerate Labs to extend these services to an additional set of companies."

"The CEC has always been committed to helping entrepreneurs," said Kevin Willer, President and CEO, CEC. "Working with the ITA, where I am also a board member, and Excelerate Labs was a natural progression of our services and we look forward to supporting these entrepreneurs."

An event will be held at TechNexus on June 9, 2011, to introduce the companies to the community and benefits offered.

About the CEC
The Chicagoland Entrepreneurial Center (CEC) works at the intersection of business success and civic engagement. It identifies the region's most promising entrepreneurs and helps them build high-growth, sustainable businesses that serve as platforms for economic development and civic leadership for the Chicagoland area. Since 2003, the CEC has helped our client entrepreneurs secure $268.5 million in revenue, raise $160 million in financing, and create or retain 6,350 jobs. In turn, CEC clients fuel the entrepreneurial ecosystem of our city by mentoring young talent, advising their peers, and joining the CEC "movement" to inspire entrepreneurship in Chicagoland.

About Excelerate Labs
Excelerate Labs is an intensive summer accelerator for startups driven by proven entrepreneurs and investors. Led by world class entrepreneurs Sam Yagan (OKCupid, Sparknotes) and Troy Henikoff (SurePayroll), the program is unique in attracting dozens of mentors from around the country to work with the teams in direct 1-on-1 meetings.

About the ITA
Illinois Technology Association (ITA) is a driving force behind the growth of Illinois' vibrant technology ecosystem. We are relentless in championing the development and application of technology, from start-up companies to industry leaders, leveraging the transformative nature of technology to revolutionize industries. ITA uniquely capitalizes on peer-to-peer collaboration, networking, and access to experts across the breadth of business to cultivate the Illinois technology industry. The unique and powerful integration of these valuable and experienced resources differentiates the ITA as a source of accelerated growth for the technology industry of Illinois. For more information about ITA, please visit www.illinoistech.org.