Peter Balbus Delivers Riveting Address

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) October 11, 2009 -- Richardson, TX -- Pragmaxis LLC (http://www.pragmaxis.com), a leading innovation management and technology commercialization strategy consulting firm, announced today that its founder and managing director Peter Balbus was a featured speaker on October 7, 2009 at the 2nd Annual Business Innovation Conference held at the suburban Chicago Rice campus of Illinois Institute of Technology (IIT) in Wheaton, IL.

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Peter Balbus Delivers Riveting Address

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Balbus' address was titled "Innovation in Tough Times" and was delivered in a compelling, informative and entertaining style – with dynamic audience interaction and memorable stories.

Before a standing-room only audience, Balbus explained why tough times – like the challenging economic climate that exists today – are often the best opportunities to launch and sustain innovation initiatives. He highlighted eight examples of iconic innovations launched during past economic recessions and depressions, including the electric light bulb in 1876, 3M Scotch tape in 1930, Procter & Gamble Pampers in 1961, Apple iPod in 2001, and high-brightness LED lighting in 2008. He cited other examples of companies that were formed or emerged as dominant competitors in prior recessions due to their successful management of innovation, and then advised how high-impact innovation initiatives can be launched today with only modest added cost to current business operations.

"While many executives assume that adopting a wait-and-see posture with reduced spending on innovation is the prudent thing to do in the current economic climate, exactly the opposite is true," says Balbus. "Prudence would mandate taking decisive actions now to put as much distance between you and your competitors as possible. And investment in innovation is demonstrably the single most effective means to achieve that.”

Balbus is a graduate of Massachusetts Institute of Technology with a degree in chemical engineering and has completed executive programs in strategy and finance at the University of Chicago. He has over 25 years of business strategy and technology commercialization experience and served as an executive consultant and practice leader with several top-tier consulting firms including Andersen Consulting, KPMG Strategic Services, CSC Index and Booz Allen & Hamilton. He specializes in conducting rapid diligence assessments, market and competitor analysis, technology and intellectual property landscape reviews, and defining strategies to accelerate the commercialization and introduction of new products and services into targeted markets worldwide.

Consulting clients includes a mix of senior executives and technologists in Global 1000 corporations, mid-sized growth companies, venture-backed start-ups and research organizations.

Balbus is also a frequent speaker at conferences, trade shows, chambers of commerce and other venues with his compelling, informative and entertaining delivery style.

In addition to his paid consulting work, Balbus is also involved in several pro bono organizations. He is the Founder and Executive Director of Business Innovators Group, a growing international community of over 1,000 individuals who share a common interest in innovation. BIG is dedicated to fostering an integrated innovation ecosystem that will provide resources and accelerate results for innovation initiatives worldwide.

Balbus is also a Strategic Advisor to the San Diego based Nanotechnology Research Foundation and from 2005-2007 served as Chapter Chair and President of the MIT Enterprise Forum of Chicago.

About Pragmaxis LLC

Pragmaxis LLC (http://www.pragmaxis.com) is a privately-held consulting group founded in 1999 that provides strategy, interim executive services, innovation management and technology commercialization expertise to Fortune 1000 corporations, new ventures and business consortia. The firm offers a broad base of experience in integrated business and technology strategy, and specializes in assisting clients understand and capture value from emerging fields including nanotechnology, solid state electronics and advanced materials science -- in particular, how advances in these disciplines can be harnessed for sustainable competitive advantage and long-term profitability.

Pragmaxis LLC provides professional services to executives and senior technologists in a broad range of industries including: aerospace, consumer and industrial electronics, chemicals, consumer goods, energy, financial services, manufacturing, telecommunications and transportation.

More information can be found online at http://www.pragmaxis.com

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