Alchemy is not a standard incubator or accelerator for University-startups. We consider Alchemy a technology foundry. Alchemy starts with basic technology elements, with the involvement of investors and corporate partners, working together with Grainger College of Engineering students to create real technology solutions to real market needs.
Teams that are formed within Alchemy spend 18 months (3 semesters plus a summer) building their technology, piloting it with potential partners and customers, with the objective to get funded as a start-up upon completion or to be acquired by a larger company.
Alchemy teams are solving complex problems and building the necessary skills to spearhead the next wave of technology innovation. Alchemy teams work with faculty, external advisors, and partner companies to identify technologies of commercial value in artificial intelligence, autonomy, robotics, mobility, augmented reality, biotech, and other topical areas.
The incredible research and educational infrastructure at the IBM-Illinois Center for Cognitive Computing Systems Research at the University of Illinois help accelerate teams to successfully deploy their ideas. Teams leverage research being developed by the faculty, as well as cutting edge machine learning and artificial intelligence tools being created within the Center, and within the University of Illinois and at IBM Research.