Rolling admissions · Rolling admissions
MATTER is a Chicago healthcare incubator, community and corporate-innovation hub that has worked with more than 1,000 startups since opening in February 2015. It runs as an ongoing, no-equity membership rather than a fixed-length cohort: Select membership costs $400 a month and includes personalized mentorship, an executive-in-residence, fundraising support and Chicago coworking space, while Flex membership is free and gives idea-stage founders curriculum and community access without the hands-on support. Alongside its startup programs, MATTER runs a separate corporate-innovation practice for Fortune 500 companies, health systems and nonprofits, sourcing solutions through startup challenges (past partners include Novo Nordisk, Roche Diabetes Care and the AbbVie Foundation) and building internal innovation capacity through workshops and corporate incubation. MATTER was incubated by the City of Chicago and initially funded by the State of Illinois and area businesses. Member and alumni companies have collectively raised over $5.3 billion and generated $105 million in 2024 revenue. MATTER also runs Paratus, a BARDA-funded federal digital health accelerator, alongside its own membership programs. MATTER ranks 61st on the 2026 TIME and Statista list of America’s Best Incubators and Accelerators.
Frequency
Rolling
Duration
Ongoing membership — no fixed term
Investment
None — membership model, no cash provided
Equity
None — no-equity membership model
Program fees
$0-$400/month — Flex (free) or Select ($400/month) membership
Where
USA
Sectors
Biotech, HealthTech, Medical
Stages
Growth/Late Stage, Pre-Seed, Seed, Series A
Eligibility
• A real healthcare solution, whether a working product or an early concept, with founders able to explain why it will succeed
• Select membership: startups ready for personalized mentorship and hands-on support to accelerate growth
• Flex membership: idea-stage startups, innovators and students building foundational knowledge of healthcare entrepreneurship
• Open to companies from around the world, not limited to Chicago or Illinois
Selection process
• Applications reviewed on a rolling basis; no fixed deadline
• Select applicants may be evaluated for fit with available mentorship and executive-in-residence capacity
• Accepted startups choose the Select or Flex tier that fits their stage and needs
Benefits
• Select membership: access to 100+ mentors across healthcare, industry and investing
• Select membership: private member events and coworking, conference and event space in Chicago
• Both tiers: a digital curriculum of more than 100 classes covering mentorship, funding basics and business-model development, a professional services directory, and a knowledge library
• Both tiers: access to the MATTER member Slack community
• Flex membership: Expert Clinic Lite sessions for idea-stage founders and students at no cost
• All members: connections to dozens of corporate partners across every sector of healthcare, plus MATTER’s investor network
• All members: keep full ownership and equity in their company
Network
Incubated by the City of Chicago and initially funded by the State of Illinois and area businesses. Corporate partners for challenges and co-development have included Novo Nordisk, Roche Diabetes Care, Parkview Health, the AbbVie Foundation, CareQuest Innovation Partners, Beyond Type 1, Blue Cross and Blue Shield of Illinois, Advocate Aurora Health, Cigna and YWCA Metropolitan Chicago, plus hospitals, health systems and universities more broadly. Investor network (the Catalyst Network) includes named venture capital firms and angel groups such as 7wireVentures, Arboretum Ventures, OSF Ventures, aMoon and Lightbank, who receive early access to member deal flow. MATTER also operates Paratus, its BARDA-funded digital health accelerator.
Portfolio
1,000+ startups supported since 2015
Funds raised
$5.3B — raised by member and alumni companies to date
🕐 Sep 2026
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