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Chicago & Midwest  + North Side  + Industrial  |  July 25, 2019
Paul Bubny
By: Paul Bubny

MHub Plans $15M Fund to Back Hardware Startups

Fresh off opening its new headquarters in West Town, manufacturing incubator MHub said it planned to raise a $15-million fund to invest in early-stage hardware startups. MHub will use a $300,000 federal grant from the Economic Development Administration to support the operations and administration of the fund.

“There is a serious gap in funding for early stage, product-based startups,” said Haven Allen, CEO and co-founder of MHub. “To truly make an impact in reducing the barriers to commercialization, we need to directly generate investment and create sticky connections between startups, investors, and corporate partners.”

Recently renamed Product Impact Fund I, the MHub fund seeks to fund 60 product-based businesses to participate in MHub’s Accelerated Incubation Program, which will pair six cohorts of 10 startups each with corporations. Cohorts will be focused on product innovation and development in areas ranging from clean energy technology to smart buildings/cities and homes.


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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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