The University of Chicago, in partnership with seven other leading Midwestern universities, today announced the launch of Third Coast Foundry, a new San Francisco–based hub designed to strengthen the collective presence of Midwest research institutions in one of the world’s most active venture ecosystems.

The initiative creates a shared base in the Bay Area where partner universities can support venture engagement and cross-institutional collaboration for university startups, researchers, and entrepreneurs.

Participating universities include: 

• Carnegie Mellon University 
• Northwestern University
• The Ohio State University
• Purdue University 
• University of Chicago
• University of Illinois Urbana-Champaign
• University of Wisconsin–Madison
• Washington University in St. Louis.

Located at 625 Second Street in San Francisco’s South Park neighborhood, Third Coast Foundry features 3,500-square-feet of workspace steps from one of the largest concentrations of venture capital in the world and the city’s emerging AI corridor.

Universities across the Midwest produce an enormous amount of talent and innovation. Together, the institutions participating in Third Coast Foundry represent nearly $10 billion in annual research investment and more than 300,000 students.

But founders outside the coasts often face challenges when raising early capital.

According to PitchBook analysis, startups in the Midwest can take about 18 months longer than their coastal peers to raise their first $500,000 in funding—a critical early milestone that often shapes a startup’s trajectory.

“Midwest universities are producing extraordinary innovation and entrepreneurial talent,” said Samir Mayekar, managing director of the Polsky Center. “But venture capital remains highly concentrated in places like the Bay Area. Third Coast Foundry is about helping our founders access those networks while continuing to build their companies in the Midwest.”

The idea for Third Coast Foundry grew out of last year’s Midwest Biotech Showcase in San Francisco, where startups from the University of Chicago, Northwestern University, and the University of Illinois Urbana-Champaign presented to more than 200 investors.

The success of that event sparked a larger question: what if these universities collaborated to create a shared space where founders could meet investors and partners in person?

Rather than each institution establishing its own separate presence, Third Coast Foundry pools resources to create a shared hub where investors can engage with a broad set of Midwest founders at once.

“San Francisco is the global hub of innovation, technology, and venture capital, and with yet another investment from leading institutions of higher education, we are accelerating our city’s recovery and strengthening our city center as a place where people live, work, play, and learn,” said San Francisco Mayor Daniel Lurie. “I look forward to welcoming students and leaders from the Midwest and partnering with these universities to open our doors to the next generation of innovators.”

The physical space is designed to support a wide range of activities, from investor meetings and startup showcases to alumni gatherings and university-hosted events.

The building also includes shared amenity space capable of hosting larger events and gatherings, allowing the universities to organize demo days and other programming.

Third Coast Foundry is launching as a two-year pilot, allowing the universities to test the model and evaluate how the space supports founders and investor engagement.

The initiative is driven by entrepreneurship, innovation, and commercialization programs across the participating universities, including the Polsky Center at the University of Chicago, Northwestern Innovation + New Ventures (INVO), Purdue Innovates, the Center for Software Innovation at The Ohio State University, the Technology Entrepreneur Center at the University of Illinois, the Wisconsin Entrepreneurship Hub and Wisconsin Alumni Research Foundation (WARF), and entrepreneurship leaders at Carnegie Mellon University and Washington University in St. Louis.

Third Coast Foundry sponsors include G2C Venture Partners and Wisconsin Investment Management Company (WISIMCO).

Grand opening details to be announced.