The Illinois Applied Research Institute (ARI), at the University of Illinois, was formed to execute applied research and development normally considered beyond the boundaries of the university research enterprise. We created this 32-page status report to help them document the growth and success of ARI in its first three years of existence, as well and share future opportunities for applied R&D at the University of Illinois, and showcase their potential to generate considerable economic impact for the State of Illinois and the Nation as a whole.