Yesterday, 1871, a nonprofit Chicago based technology and entrepreneurship incubator, announced its intent to acquire the principal assets of hub88.
More on 1871
1871 has expertise in artificial intelligence, augmented reality, and the Internet according to its CEO Betsy Ziegler. She said the new acquisition fits in well with the company’s mission, with the two sharing the same vision and values.
“This opportunity to amplify that focus on technology as well as to add to it, with a focus on drones and the 5G Communications Lab felt like it was just a really nice set of pieces coming together,” said Ziegler.
Ziegler added hub88’s leadership would be a benefit for1871’s community.
More on hub88
Founded in 2018, hub88 a tech accelerator, offers businesses development resources, entrepreneur mentoring, and networking assistance.
As Ziegler mentioned, hub88, a Naperville nonprofit, has helped launch a 5G Communications Lab, and a Drone Interest Group.
They also have numerous other programs, which have reached over 1,000 community members from over 400 companies and organizations.
“With the growth that we’ve had throughout these past several years, we were at an inflection point being able to determine how we’re going to go forward whether we had [to] start building a lot of the infrastructure ourselves versus partnering with a company like 1871, which really helped us to get to their level much faster,” said hub88’s Chairman of the Board Matt O’Sullivan.
In integrating hub88 into the 1871 community, members will have the opportunity to access 1871 benefits both online and at the downtown Chicago and Naperville locations, as well as the deeply technical expertise, programming, and capabilities hub88 offers.
Naperville News 17’s Christian Canizal reports.
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