Incubator Or Incinerator?

Chicago's Divine interVentures is in danger of flaming out

Chicago's relationship with Internet incubator Divine interVentures (DVIN) began as a heavenly affair. Riding high on the popularity of business-to-business Net companies last year, Divine was the belle of Chicago's dot-com ball, and the company's enigmatic chairman and CEO, Andrew J. "Flip" Filipowski, was praised as the city's Great Wired Hope. When Chicago Mayor Richard M. Daley laid out his blueprint for turning the city into "the high-tech hub of the 21st century," he chose the site of Divine's planned seven-acre campus on the city's North Side to deliver his speech. Daley chipped in a $14 million tax subsidy to help the project along and tapped the company to manage a planned $100 million venture fund for local tech startups.

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