The three-day conference is being held in a new building in the Fulton Market District, built during the pandemic with the tenants in mind.
According to PitchBook Data, Chicago startups have raised more than $5 billion in total venture capitalist funding, and the majority of startups are led by either females or a founder of color.
Lightfoot talked about the importance of startups happening in the city.
"With more founders, investors and companies choosing Chicago and more employers looking for talent and finding it at a thriving innovation ecosystem that can support their growth, a scenario that we are well-prepared for and to take advantage of," Lightfoot said.
This year marks the third sold out summit and the city's largest ever with more than 500 participants. The conference concludes Wednesday.