Industry experts Forbes and PitchBook recognize UIUC for its strength in developing entrepreneurs. A new network joined the list of supporters – topped by iVentures Accelerator and Research Park – to propel even more start-ups.

Prominent UIUC alumni and the University of Illinois System’s venture capital arm, Illinois Ventures, joined forces to create Illini Angels. They know new ideas strengthen the Illinois economy and support communities.

“Our alumni, our faculty, our students are leaders and innovators in every field imaginable,” UIUC Chancellor Robert J. Jones said. “We are grateful such an incredible group of alumni stepped forward to back other members of the Urbana-Champaign family.”

Illini Angels will support early-stage companies whose founders or leadership have connections to the U of I System. Support will include seed funding, networking, and mentorship. Entrepreneur and big-data and analytics pioneer Paul Magelli is the inaugural director of Illini Angels.

The Illini Angels network plans to focus on start-ups in engineering, computer science, healthcare, agriculture tech, and energy.

“We needed a visible, formal group of alumni to help seed these ideas in their early days and add operational expertise as mentors. So we’re building one,” said Craig Vodnik. The UIUC engineering graduate founded Cleverbridge, an international e-commerce and billing company.

PitchBook lists UIUC as the number three public university for raising capital. Its alumni have started upwards of 550 companies that have raised more than $21 billion.

Paul Couston knows raising capital is challenging when rising stars want to focus on bringing their vision to life. He founded Optivolt Labs while a UIUC engineering student.

“Illini Angels simplifies the investing process and lets founders focus on building,” Couston said. He is co-founder of Ascent Integrated Tech, which improves first responders’ safety.

Nancy Sullivan, CEO and managing director of Illinois Ventures, says now is the time.

“There’s been such pent-up demand for this idea. Illinois entrepreneurs, faculty, and staff often hear from alumni who would like to invest in or engage with our start-ups. They know that great opportunities are born there every day,” Sullivan said.