UICO, LLC celebrated its ribbon-cutting event on Friday, August 16th, 2013. The ceremony was held to thank the State of Illinois for its investment in UICO, and to celebrate the expansion of the Company’s operations and workforce.
UICO, based in Elmhurst, Illinois, makes touchscreens that work through pouring water and heavy-duty gloves. It was one of the first companies to receive financing from the Invest Illinois Venture Fund, which has contributed to UICO’s growth. The IIVF is part of Advantage Illinois -- this program has invested $40 million into growth companies and has leveraged over $400 million in additional private funding.
“The program has created nearly 2,000 jobs in Illinois,” said DCEO Director, Adam Pollett at the ceremony. “UICO is a shining example of that funding at work, and it’s a wonderful symbol to be here today to talk about that. We are proud to be funding a part of the puzzle for UICO.”
UICO co-founder, and CEO, Bahar Wadia added, “The IIVF understands that funding innovation will drive prosperity for Illinois and its residents. We are thrilled to partner with the State of Illinois and to contribute to the State’s economic development.”
Along with Director Pollett, the event was attended by Elmhurst Mayor Steven Morely, President and CEO of the Elmhurst Chamber of Commerce & Industry John Quigley, and key officials from DuPage County including Board Member Paul Fichtner.
Greg Bedalov, President and CEO of Choose DuPage added, “It’s critical that we support and help foster the growth of companies like UICO. These are the jobs of tomorrow, not only for DuPage County, but for the entire State of Illinois.”
UICO supplies Fortune 1000 companies with the company’s amazing duraTOUCH® touch screens that work in the harshest environments. These opportunities will allow UICO to nearly quadruple output in 2013 as demand for UICO’s premier touch solutions continues to surge.
About UICO: UICO is the maker of duraTOUCH®, the most durable touch solutions for demanding applications. duraTOUCH® works in harsh and rugged environments where consumer touch screens simply won’t work. Extreme temperatures, pouring water and gloves are no problem.
About DCEO: The DCEO exists to raise Illinois' profile as a global business destination and nexus of innovation; and to provide a foundation for the economic prosperity of all Illinoisans, through coordination of business recruitment and retention, provision of essential capital to small businesses, investment in infrastructure and job training for a 21st century economy, and administration of state and federal grant programs.
About Advantage Illinois: Enhancing business access to capital is a top priority for this administration and the Illinois Innovation Council. Advantage Illinois will accelerate investments and ease the credit crunch for small businesses, thanks to more than $78 million from the federal State Small Business Credit Initiative (SSBCI) of the Small Business Jobs Act of 2010.
About Invest Illinois Venture Fund: IIVF is a venture capital program seeking to support young, innovative companies, and start-ups that show a high potential for future growth resulting in the creation of high-paying professional Illinois jobs.
About Choose DuPage: Choose DuPage is dedicated to establishing DuPage County as a premier global business location by working to expand and diversify the DuPage County economy through actions that stimulate business investment in its communities and generate desirable job opportunities for DuPage County residents.
Contact: Forrest Elizabeth Folsom, Marketing Associate, UICO, 630.815.8589, mailto:email@example.com