UIC's Office of Technology Management is dedicated to helping companies license UIC technologies, and assists with everything from sourcing inventions to negotiating agreements, options, and various licenses.

Six UIC start-up companies were licensed in fiscal year 2002, and there are eleven in the development phase for fiscal year 2003. These companies are developing technologies in areas such as the life sciences, biotechnology, software, and chemical production. Early-stage valuations for these start-ups have ranges from $1.5-$5 million. In fiscal year 2002, more than $7 million in venture capital and angel funding was raised by UIC's latest start-ups.

Some of UIC's start-ups locate their operations at the Research Center in the Chicago Technology Park. It was built in 1985 to attract and nurture biotechnology and life sciences firms in Illinois and now is the Midwest's largest incubator for science start-up companies. The Research Center helps start-ups—providing venture capital contacts, attorneys, accountants, reduced scientific equipment costs, and more—to return equity to investors and create advances in medical technology. It is fully occupied with approximately twenty-five technology firms, forty state-of-the-art biotechnology wet labs, and a waiting list of firms seeking residence.