Chicago ARC is a physical ecosystem, located within the Bronzeville Innovation Center, built on the proven model of Sheba Medical Center – a Newsweek Top-10 global hospital, brings together startups with experienced operators and an extensive partner network to accelerate development and commercialization through streamlined collaborations, the sharing of data, and strategic funding. The focus from day one is bringing sustainable health equity and transformation solutions to market, driving impact and returns for healthy Chicago. A scalable model starting in Chicago and replicating in other markets.
Sheba ARC Model
Sheba’s ARC (Accelerate, Redesign, Collaborate) encompasses a global ecosystem that aims to develop, pilot, and roll-out game-changing solutions that provide accessible and transformative care. The ARC open innovation model is one of the most successful and prolific in Israel and globally. The Chicago ARC builds on this proven model through a market-driven approach adapted for the U.S. It connects global partners and innovations with Illinois’ life sciences and healthcare community.
ACCELERATE INNOVATION: FAST-TRACKING GAMECHANGING HEALTH INNOVATION AND LIFE SCIENCE ADVANCES
Health innovation is hard, particularly in the complicated U.S. healthcare system. The Chicago ARC will take a market-based approach and provide high-touch support to grow local and global startups to transform healthcare. Incubator facilities and services, accelerator programs driven by experienced operators and investors, and investment capital will shorten the timeline between scientific discovery and commercial scale. Focus areas include healthcare access/affordability, precision medicine, smart medical devices, preventative solutions, and biologics. The permanent Bronzeville Innovation Center facility is set to open in early 2024 as the anchor of the Bronzeville Lakefront development. Until then, it will operate out of interim space.
The Chicago ARC model includes:
REDESIGN HEALTHCARE: EQUITY, ACCESS & IMPACT
The Future of Health – led by Sheba – is a community of leaders from the world’s premier health organizations with the objective to influence, transform, and redesign the future of health. The Chicago ARC translates the resulting Healthcare 2030 vision into new solutions and practices, focused on equal access and outcomes. A health equity accelerator will partner with community organizations and initiatives to unlock the benefits for residents, scaling solutions and best practices across Illinois and the United States.
COLLABORATION WITH PARTNERS: GLOBAL INNOVATION COLLABORATION PLATFORM
The Chicago ARC is the United States epicenter for the global ARC network of leading institutions that share an ambitious goal – the transformation of health. The innovation center will include researchers, startups, innovators, and community partners focused on the next-generation of health – creating convergence across healthcare, technology, mobility, nutrition, environmental health, and education.
Chicago Is Ground Zero for Global Health Innovation
Illinois has all the ingredients to create better health outcomes. It is among the nation's top producers of STEM degrees and is home to the third largest medical and life science economic engine in the nation. World Business Chicago reported that the Chicago region generates approximately $72 billion in economic output and supports almost 700,000 employees annually. As one of only four U.S. cities with three tier-one research universities, Chicago area institutions amassed over $900 million in National Institutes of Health-funded research and development funding as of 2019.
CHICAGO: THE NEXT BIG THING IN LIFE SCIENCES AND HEALTH INNOVATION
Chicago ARC is Unique, With Many Firsts
The Chicago ARC aims to create billions of dollars in value and dramatically accelerate the successful adoption and adaptation of disruptive technologies. Under the leadership of the joint venture team, the Chicago ARC will foster new capabilities that grow health ventures through access to data, experienced operators, customers and capital. Focus areas include precision medicine, big data and artificial intelligence, virtual reality, telehealth and medical technologies.