Alchemist is one of the top Accelerators in the world focused on supporting startups that monetize from enterprises (i.e., B2B and B2B2C startups). Alchemist’s backers include many of the top corporate and VC funds―including Mayfield Fund, Khosla Ventures, Foundation Capital, BASF, NEC, Cisco, Siemens, GE, and Salesforce. Notable alums include LaunchDarkly, Kyte, MoEngage, Foresight, Privacera, Matternet, and mPharma.
Alchemist Chicago
Next Application Deadline: September 7, 2025
Next Program Start Date: October 2025
Next Program Start Date: October 2025
A premier foundational tech launchpad powered by Alchemist and the University of Chicago.
Combining the strengths of Alchemist's global network and the University of Chicago ecosystem, Alchemist Chicago will position breakthrough innovations for real-world impact.
About Alchemist Chicago
Alchemist Chicago, a premier early-stage startup accelerator focused on foundational technology, is a partnership between Alchemist and the University of Chicago’s Polsky Center for Entrepreneurship and Innovation.
Alchemist Chicago serves as a bridge to the University of Chicago’s world-class research institutions and talent networks. Strategically located near legacy-industry hubs ripe for disruption, it connects deep tech founders to Silicon Valley’s best practices, capital, and global networks, positioning them to transform scientific breakthroughs into market-defining companies.
Up to 30 startups will be selected to participate in Phase 1, led by Polsky Center, from which a select group of up to 10 will be chosen to continue to Phase 2, Alchemist Accelerator’s flagship global program.
The Polsky Center draws on the University of Chicago’s leading research in the sciences, national laboratory affiliations, and partnership with the top-ranked Booth School of Business to help startups reduce risk as they position their innovations for real-world impact.
We strongly encourage quantum technology startups to apply to Alchemist Chicago. The program brings together tailored support built for the unique challenges inherent in building a quantum company. From strategic partnerships with IBM to mentorship with industry leaders, commercialization pathways, and investor networks, we encourage you to join the program that has built successes such as Rigetti, BosonQ, and qBraid -- the program that gives quantum founders the resources and connections to scale faster.
Key Industries Include:
- Quantum – Backed by Duality, the nation’s first quantum accelerator
- AI Infrastructure
- Robotics and Physical AI
- Cleantech
- Advanced Materials
- Advanced Manufacturing
- Agtech/Foodtech
- Spacetech
- Other Deep Tech Industries
Phase 1: Validate and Build Traction
Duration: 7 weeks (October-December 2025)
Cohort Size: Up to 30 startups
Get laser-focused on customer validation and early traction. Through expert modules led by the University of Chicago and Alchemist faculty, you’ll gain the tools and support to advance real-world proof points. A travel grant will be provided for a one-week immersion in Chicago.
Up to 10 venture-backable and commercialization-ready teams will be invited to continue to Phase 2.
Phase 2: Get Fundraising-Ready
Duration: Enrollment in the 6-month Alchemist Flagship Accelerator
Cohort Size: Up to 10 startups
Unlock full access to Alchemist Accelerator’s flagship program — including curated investor intros, mentorship, and a spot at Demo Day. Founders can optionally spend time in Silicon Valley to build investor relationships and prepare to raise.
$50K SAFE for Phase 2.
The Ideal Alchemist Chicago Team
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Pre-Seed or Seed Stage Deep Tech Startups. e.g., Quantum, Cleantech, AI/Data Infrastructure, Robotics, and advanced materials.
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Technical teams of at least two Co-Founders.
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Available for the in-person portion of Phase 1 in Chicago (October 27-31, 2025).
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If selected for Phase 2, must be available to participate in the Accelerator until July 2026, including two in-person retreats in San Francisco.
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Global founders are welcome, but you must be able to obtain a visa for the in-person portions and be fluent in English.
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No University affiliation required.
Applications Open: July 21, 2025
Application Deadline: September 7, 2025
PHASE 1:
Key Dates
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Kickoff: October 20, 2025
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In-person: October 27-31, 2025
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Final Showcase: December 10, 2025
PHASE 2:
Key Dates
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Kickoff: Late January 2026
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In-person: 1 week late January 2026
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Demo Day: May 2026
What happens in the program?
Phase 1
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30 startups selected for a 7-week, mentor-assisted, faculty-driven curriculum led by the University of Chicago
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Focus on business model and IP fundamentals, initial pitch, and customer discovery
Phase 2
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10 startups selected to advance to Phase 2 based on commercial readiness
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6-month, coach-led Alchemist Acceleration Program
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Focus on sales readiness, commercial traction, and fundraising
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Alchemist Founder Retreat & Global Demo Day
Benefits
Participants will have access to a strong community, coaching, and mentorship tailored to their sector. Additionally, they will receive various perks, including significant credits from Microsoft and other relevant benefits, such as IP services and grant writing services.
The program aims to provide deep tech founders with the necessary support to succeed in their ventures.
All Accepted Applicants (Phase 1 & 2):
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Co-working space at UChicago Polsky Center
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IP strategy support and other perks
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Alumni Slack access and long-term support
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Entrepreneurial training delivered by world-class professors
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Access to student talent from the University of Chicago
Phase 2 Participants:
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$50K SAFE investment
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Co-working space in San Francisco
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Alchemist Global Demo Day, Founder Retreat, and lifetime community access
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$1M+ in available additional perks, including credits from Microsoft, Google, IBM, and others
Email chicago@alchemistaccelerator.com if you have any questions or want to get involved with Alchemist Chicago.
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The Polsky Center for Entrepreneurship and Innovation advances innovative ideas and technologies from the University of Chicago ecosystem to the world. We are dedicated to supporting students, faculty, staff, and alumni, as well as other entrepreneurs and community-based small business owners in navigating the complex process of bringing new products, services, and research to market. For more information, visit polsky.uchicago.edu.
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Alchemist and the University of Chicago are partnering to bridge world-class research with real-world impact. By combining UChicago’s deep scientific expertise and Alchemist’s global accelerator network, the program helps transform cutting-edge innovation into scalable, venture-ready startups.
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The Chicago program is a two-phase accelerator designed to help deep tech startups validate their market, gain traction, and prepare for fundraising through a partnership between Alchemist and the University of Chicago.
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Duality, founded in 2021, is the first accelerator program in the U.S. exclusively focused on supporting innovative quantum startups. The program is based in Chicago, the world’s leading hub for quantum innovation. Duality is joining forces with the Alchemist Accelerator to unite the best of the Quantum ecosystem in the U.S. with the power of Silicon Valley.
In addition to Alchemist's resources, startups in the Duality track will receive additional perks and benefits. -
For companies selected for Phase 2, we anticipate most will be granting 4% equity to participate, but we have flexible terms. Phase 2 companies will also receive a $50,000 investment.