Alchemist Chicago

Program Type: Hybrid (In-person & Online)

Location: Chicago, Illinois

Investment: 50,000$ (Phase 2)

Equity Taken: 4% (Flexible terms for Phase 2)

Program Duration

• Phase 1: 7 weeks (October 20, 2025 - December 10, 2025)
• Phase 2: 6 months (Late January 2026 to May 2026)

Stage: Pre-seed, Seed

Industry of Focus

• AI/ML
• Robotics
• Cleantech
• SpaceTech
• Agtech
• Other Deep Tech Industries

Key Highlights

Program Overview

Alchemist Chicago is a cutting-edge early-stage startup accelerator focusing on foundational and deep tech industries. Powered by a partnership between Alchemist and the University of Chicago’s Polsky Center for Entrepreneurship and Innovation, this program connects participants to Silicon Valley's global networks and resources. It is strategically positioned to transform groundbreaking research and innovations into actionable, scalable solutions with real-world impacts.

Diversity, Inclusion, and Exclusion

The program is open to global founders fluent in English and capable of obtaining visas for in-person phases. No university affiliation is required.

Investment Details

• $50,000 SAFE investment for Phase 2 companies.
• Anticipated equity requirement for Phase 2 participants is 4%, with flexible terms.

Benefits Details and Perks/Credits

• Access to mentorship, coaching, and tailored entrepreneurial training led by world-class professors.
• IP strategy guidance and grant writing support.
• Access to student talent from the University of Chicago.
• Lifetime community access with alumni Slack and long-term support.
• Co-working spaces in Chicago during Phase 1 and San Francisco during Phase 2.
• Travel grant during Phase 1’s in-person immersion segment.
• Significant startup perks, including credits from Microsoft, IBM, Google, and others (valued over $1M+).
• Participation in Alchemist Global Demo Day and Founder Retreat.

Program Format

• Phase 1: A 7-week program (October–December 2025) focusing on customer validation and building traction, involving a cohort of up to 30 startups.
• Phase 2: A 6-month acceleration program beginning late January 2026 for up to 10 startups, emphasizing sales readiness, commercial traction, and fundraising.

Location or Relocation Requirements

• In-person participation required during Phase 1 (October 27–31, 2025, in Chicago) and for two retreats in San Francisco (Phase 2).
• Participants must obtain a visa for necessary in-person events.

Cohort Size and Program Frequency

• Phase 1: Up to 30 startups.
• Phase 2: Up to 10 startups.
• Runs yearly, with applications open starting July 21, 2025, and an application deadline of September 7, 2025.

Requirements Related to Users, Revenue, or LOIs:
No specific user or revenue milestones required, but startups should be at the pre-seed or seed stage with commercial readiness to advance to Phase 2.

Post-Program Engagement

• Lifetime access to the Alchemist community, including alumni networks on Slack.
• Long-term support for entrepreneurial growth.

Company Types Requirements

Pre-seed or seed stage deep tech startups in areas such as quantum tech, AI, robotics, cleantech, advanced materials, agtech/foodtech, spacetech, and other industries.

Founding Team Preferences

• Teams should comprise at least two co-founders with technical expertise.
• Participants are expected to focus full-time on the program during the duration of both phases.