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Chicago Mayor Rahm Emanuel has made an announcement that 5 Chicago-based universities are planning to launch the Global Entrepreneur-in-Residence (EIR) Program.
The 5 participating universities include Columbia College, DePaul University, the Illinois Institute of Technology, Loyola University and Northwestern University.
These universities will work with the city of Chicago and sponsor between 10 to 20 visas for start-up founders in the first year of the program.
Mayor Emanuel said, "We want entrepreneurs to see Chicago as a place where their ideas dreams their companies can happen. I believe this initiative ... is saying yes to entrepreneurship, yes to diversity and most importantly, yes to the future of the city of Chicago."
Entrepreneurs will be sponsored by the universities based on their company’s growth.
While early stage entrepreneurs will be employed part-time for the university and work separately on their companies, those with established start-ups will get a chance to make a home base at their sponsor university and mentor its students.
