A robust Chicago tech community…

It’s about more than startups, and beyond any one company. The robust growth of Chicago’s tech community has been a decade in the making and is mostly made up of companies that will rarely be written about or recognized by consumers, but have transformative effects on entire industries. The story of Groupon is still being written, and they may emerge as a real pillar of the region’s economic future. But for now, Alexis Madrigal and The Atlantic tell the broader story of Chicago’s real tech community, and shed a little light on our efforts at TechNexus to bring more corporations into the fold.

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Earliest of TechNexus collaborators, OK Labs has been acquired by General Dynamics

Steve Subar launched and grew Open Kernel Labs from within Chicago’s TechNexus incubator over the past five years, becoming only the second of what has now been more than 170 young companies to grow in the ecosystem. While growing at TechNexus, Steve led OK Labs to more than 50 employees, through millions of dollars in capital raises, and now to a successful exit to General Dynamics (NYSE: GD), a $32 billion aerospace and defense company.

At TechNexus we take pride in the success of the companies that collaborate in our incubator, but also companies that represent what the Chicago tech scene is all about – hard-nosed innovation and building scalable businesses.

OK Labs recognized the immense potential of mobile virtualization. Before the acquisition, OK Labs had deployed its software on more than 1.6 billion devices. Only a handful of other companies can say that, and OK Labs is the youngest to have reached that milestone.

This sort of innovation and alignment between new ventures and industry leading corporations is exactly the focus of TechNexus — and where much of our time has been directed. We are all proud of OK Labs evolution. Congratulations to Steve and the entire team at OK Labs! We look forward to supporting your transition as well as your future contributions to General Dynamics.

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