25-Feb-18 – 1871, the tech incubator located at Merchandise Mart, has been ranked the best university-affiliated business incubator in the world.

UBI Global, a data and advisory firm based in Stockholm, says its rankings are based on overall economic impact, value to members, and other factors. The rankings, it explains, help incubator managers, governments, investors, and early-stage companies understand where the top incubators are located.

According to Holger Meyer, Director of Research at UBI Global, 1871 is “a central hub and major pillar of the Chicago entrepreneurship ecosystem.”

More than 500 companies are currently working out of 1871, in 150,000 square feet of space on three floors of Merchandise Mart.

Mayor Rahm Emanuel says 1871 has been instrumental in the growth of Chicago’s tech sector.

“UBI Global recognizes what we already knew,” said Emanuel, “1871 stands alone among incubators and its impact can be seen in the jobs, ideas, and talent created and developed throughout Chicago every day.”

According to 1871, its member companies and alumni have raised more than $280 million and created more than 8,000 jobs. 1871 is affiliated with eight universities, most of which have dedicated spaces at the facility for students and faculty to develop businesses and “immerse themselves in Chicago’s entrepreneurial community.”

In the previous ranking by UBI Global, 1871 came in fourth.