Chicago Mayor Lori E. Lightfoot today welcomes more than 800 venture capitalists & investors, founders, innovators, and corporate executives for a sold-out Chicago Venture Summit Future-of-Logistics, the region’s flagship startup and venture conference, led by World Business Chicago. The two-day conference concludes today at 167 Green in Chicago’s Fulton Market District.
“There is no city in the world like Chicago when it comes to dominance in logistics and supply chain innovation,” said Mayor Lightfoot. “I am proud to welcome the hundreds of founders, university innovators, Fortune 500 executives, investors, and VCs from around the world convening to hear how Chicago’s strengths and resonance as a tier one tech and innovation hub are best suited to grow transportation, logistics and supply chain industry.”
According to the World Business Chicago Research Center, the Chicago area has seen an 802 percent increase in logistics tech growth capital since 2019, stemming from an upsurge in e-commerce, the global supply chain crisis, and increased demand for emerging and accelerated tech like blockchain. Logistics tech companies raised $1.38B in growth capital 2021, up from just $0.15B in 2019. Chicago growth capital investment beat out New York by 301 percentage points between 2019-2021, and over 100 locally headquartered companies that employ over 34,000 individuals
“We’ve expanded the Chicago Venture Summit into a sector-specific series, focused on industries where Chicago has the right to win,” said Mark Tebbe, Chair of World Business Chicago’s Innovation and Venture Council. “Chicago’s logistics tech sector is one of the world’s best, and we’re showing the world why they need to be in Chicago when it comes to the future of logistics, freight, and supply chain technology.”
In the summit’s opening session Mayor Lightfoot joined CDL 1000 CEO and CoFounder Andrew Sobko to announce Chicago as home to the company’s new global headquarters. CDL 1000 provides solutions for the daily challenges surrounding over the road, Drayage-Intermodal, and warehousing operations. The 24-hour asset-based supply chain technologies company offers transportation solutions with advanced tracking and freight matching capabilities. The company was recognized as the highest growing one in the Chicago region according to the 2022 Inc. 5000 list. The company witnessed a 56,135 percent increase in its revenue between 2018 and 2021.
“Chicago offers every company what it needs when it comes to growth, access to world-class talent, and provides a diverse business ecosystem in the world according to sectors and a thriving innovation economy,” said Andrew Sobko, CEO and Founder of CDL 1000. “We are thrilled to bring our CDL Tech HQ to Chicago, where we will launch the Batch Platform, the Costco of Freight, and DaaS Platform, Demurrage as a service. Together we look forward to celebrating with our peers and the local logistics tech community to celebrate our next great chapter here in Chicago, where we will bring hundreds of jobs to the city.”
More than 800 participants have registered to attend, representing more than 400 unique corporations, startups, investment firms, universities, and other entities; 100+ investment & VC firms, 140+ startups, and 16 countries represented by Consulate Generals and trade offices. The official Chicago Venture Summit startup portfolio includes more than 60 logistics and supply chain-focused startups from across the United States and around the world. Among the highlights of today’s summit, include:
- Opening keynote by Lior Ron – Head of Uber Freight, moderated by Cooley;
- Keynotes by the Mobility-in-Harmony Consortium of Foxconn, Loadsmart, and project44;
- Future-of-Corporate Innovation Panel featuring Accenture, Link Logistics, and Microsoft;
- Future-of-Startups Panel featuring MoLo Solutions, Arrive Logistics, MVMNT, Stimulus Inc, and Bringg; and,
- Future-of-VC Panel featuring Chicago Ventures, Energize Ventures, GreatPoint Ventures, and Hyde Park Venture Partners.
“Chicago is a global leader in logistics due to its historic strengths, innovative technologies incubating and building here, and global supply chain demand,” said Michael Fassnacht, CEO & President, World Business Chicago, and Chief Marketing Officer, City of Chicago. “In our quest to drive inclusive equitable economic development, we are convening time and space in order to connect in-person, in Chicago and far, for meaningful conversation and discussions that lead to collaboration, partnership and the overall support of each other’s goals and ambitions.”
Today’s summit was preceded by partner event,1871’s Supply Chain Innovation Summit with Accenture. The Supply Chain Innovation Lab is the first dedicated program of 1871’s over-arching Industry Lab experience, bringing together early and growth- stage companies with industry leaders and accelerating and emerging tech businesses involved in supply chain. Accenture is a World Business Chicago board member.
“Our community of innovators is uniquely equipped to come together to tackle today’s most pressing challenges because 1871 serves the entire business maturity curve, from idea all the way to Fortune 50,” said Betsy Ziegler, CEO of 1871. “This summit activates the power of our collective brain, where the leaders & entrepreneurs in the supply chain industry will come together and empower solutions that will build a brighter future in our city and beyond.”
“Supply chain networks must be resilient, trusted and backed by continuous innovation to keep up with ongoing demand fluctuations and supply disruptions,” said Patty Riedl, Managing Director for Supply Chain and Operations at Accenture. “Innovators and corporate partners in Chicago are in a unique position to reinvent supply chain networks so they are faster, more efficient, and sustainable. The aim is to simplify people’s lives and positively impact business, society and the planet.”
The Chicago Venture Summit Future-of-Logistics, presented by World Business Chicago, is supported by 52 sponsors and partners. The Summit is proud to have the critical support of inaugural presenting sponsors: 1871, Accenture, the Consulate General of Canada in Chicago, CBRE, Cooley, Link Logistics, Loadsmart, Microsoft, project44, and others.
- “As a resident of Chicago for nearly two decades, I couldn’t be more excited about the incredible growth of innovation in our city and the role Microsoft plays here to empower every person and every organization to achieve more,” said Matt Renner, President of U.S. Entreprise for Microsoft, and World Business Chicago board member. Working with the city of Chicago and the World Business Chicago organization to support customers and partners across our region is key to Chicago’s success as a city at the forefront of tomorrow and a hub where organizations thrive.”
- “project44 is honored to be part of the Chicago Venture Summit Future-of-Logistics conference. We are proud to call Chicago home because of its deep bench of logistics talent and heritage as a hub of supply chain technology,” said Jett McCandless, Founder & CEO, project44. “As we build the world’s most comprehensive product suite, Movement by project44, we know we’re at an advantage with our close proximity to investors, global Fortune 500 companies and other influential supply chain innovators.”
- “Techstars is committed to creating opportunities for founders and that is why we are thrilled to be a presenting sponsor for the Chicago Venture Summit Future-of-Logistics by World Business Chicago,” said Maelle Gavet, CEO of Techstars. “We believe in Chicago entrepreneurs and the vibrant Chicago startup ecosystem that just keeps getting better and better.”
- “With increasing volatility and ongoing market challenges, we’ve reached the golden age of innovation in the global supply chain,” said Lior Ron, CEO of Uber Freight and World Business Chicago board member. “It’s important now more than ever to collaborate with industry partners to ensure a resilient future for logistics, freight and supply chain technology – especially in Chicago, the heart of America’s transportation system. We’re thrilled to participate in the first-ever Chicago Venture Summit Future-of-Logistics, and look forward to supporting the growth of the local business community into the future.”
For the third time in over a year, the Chicago Venture Summit returns to 167 Green in Chicago’s Fulton Market District. The 640,000 square foot office building, developed by Shapack Partners and Focus and owned in partnership with Walton Street Capital, is a testament to its location and design. Recently, CCC Information Services, Foxtrot, and others have announced their headquarters’ relocation to the building, joining Kroll, WeWork and other innovative companies located at 167 Green in the Fulton Market District. 167 Green features one of Chicago’s largest town hall spaces, which doubles as a full size basketball court on the top floor of the building, along with a rooftop terrace, sitting room, game room and gym.
“As one of the fastest growing neighborhoods in Chicago, we’ve become one of the world’s most desired destinations for innovative companies and startups,” said Jeff Shapack, Founder and CEO of Shapack Partners and World Business Chicago board member. “We’re proud to serve as host for our third Chicago Venture Summit. This space exists for purposes like this: to convene the nation’s premier startup and venture events.”
To learn more about the Chicago Venture Summit Future-of-Logistics agenda, startup portfolio, and speakers, please visit www.chicagoventuresummit.com. Follow World Business Chicago on Twitter and LinkedIn for updates from the summit, with two LinkedIn Live events featuring FreightWaves chief economist, Anthony Smith, and members of the WBC Research Center team.
ABOUT CHICAGO VENTURE SUMMIT, FUTURE OF LOGISTICS
The Chicago Venture Summit Future-of-Logistics is the Chicago region’s flagship startup and venture capital conference, connecting local founders with VC firms, investors, and Fortune 500 leaders; showcasing the city’s thriving startup ecosystem, and promoting Chicago as a global destination for founders, innovators, and investors. Today’s summit would not be possible without the active sponsors whose financial contributions and partnerships directly support the participation of local founders who are part of the Summit’s official startup portfolio. Innovation Sponsors include Arrive Logistics, MxD, P33, and TechNexus Venture Collaborative. Startup Sponsors include: the Chicago Connectory, City Colleges of Chicago, Clique Studios, Choose DuPage, Cook County, Discovery Partners Institute, The Ed Kaplan Family Institute for Innovation and Tech Entrepreneurship at the Illinois Institute of Technology, The Grainger College of Engineering of the University of Illinois in Urbana–Champaign, The Greater Chatham Initiative, Illinois Growth and Innovation Fund, the Illinois Science and Technology Coalition, Kane County Development & Community Services Department, Kendall County, Lake County Partners, McHenry County Economic Development Corporation, Northwestern University Transportation Center, the Toronto Stock Exchange, and the Will County Center for Economic Development. Venture Partners include: The 81 Collection Fund, All Raise, BLCK VC, Chicago:Blend; Chicago Ventures, Decasonic, Drive Capital, Dynamo Ventures, Fifth Star Funds, Gen Z VCs, HPA, Hyde Park Venture Partners, LatinX VC, Lofty Ventures, NewBuild Venture Capital, Supply Change Capital, and VCFamilia.
ABOUT WORLD BUSINESS CHICAGO
World Business Chicago serves a critical role in driving inclusive and equitable recovery throughout the city’s 77 neighborhoods, focused on high growth sectors: transportation, distribution, & logistics; manufacturing; healthcare & life sciences, and our local innovation, startup, & venture ecosystem. As the City of Chicago’s economic development agency, World Business Chicago leads corporate attraction & retention, workforce & talent, community impact, and promotion of Chicago as a leading global city. Supported by a council of 300+ local leaders, World Business Chicago’s portfolio of innovation & venture programs include: the Chicago Venture Summit series, Startup Chicago, ThinkChicago, and Venture Engine with the Illinois Science and Technology Coalition (ISTC). Follow World Business Chicago on LinkedIn for daily news and announcements on company relocation and expansion; industry and ecosystem growth, U.S. and world rankings, and more about Chicago’s economic progress.