Peoria NEXT names Brewen as CEO
- Details
- Published on Thursday, 10 November 2011 15:15
- Written by Paul Gordon
Peoria NEXT has taken its next step toward its future, naming Grant Brewen its new CEO, effective immediately.
Brewen comes on board as Peoria NEXT, formed 10 years ago by several organizations and business leaders to provide entrepreneurs an outlet to turn ideas into market-ready products, prepares to redefine its strategies for the next five years.
That will include concentrating its efforts in four key disciplines in which this area already excels, said Jim McConoughey, CEO of the Heartland Partnership, when he introduced Brewen during a news conference Thursday at the Peoria NEXT Innovation Center.
He said Brewen will assemble a team of technical experts in the next months as Peoria NEXT narrows its focus "into the categories we're feel we're pretty good in." Those include the medical, manufacturing, clean technology and food products/safety categories.
Soon a new strategic plan will be adopted that will be used as a guideline for Peoria NEXT and for entrepreneurs, McConoughey said.
Grant Brewen, the new CEO of Peoria NEXTBrewen, who will continue to be CEO of the Biotechnology Research and Development Corporation (BRDC), a position he's held since 1988. BRDC was one of the original partners in the consortium that formed Peoria NEXT and there are negotiations underway to possibly merge the two groups. BRDC is privately owned, Brewen said.
Brewen said under his leadership Peoria NEXT will identify needs of the public, then go out and find the skilled researchers to find the solutions. "It's better to build the better mousetrap than to try and convince the public it is better. We will be market pulled and technology driven," he said.
He noted there will continue to be a need to raise capital. "That won't be easy, considering the federal government doesn't want to spend money and the state doesn't have any to spend," he said.
Peoria NEXT will start following the business model of zuChem, one of the successes of the BRDC and its collaboration with the National Center for Agricultural Utilization Research, more commonly known here as the ag lab.
zuChem is a producer of unique sugars that do not trigger insulin responses in the body. When it was identified as a dietary need, BRDC found scientists with the research skills to produce it, then found the investors to get the business started.
Brewen said Peoria NEXT will broaden its scope and look beyond the immediate Peoria area for ideas and skilled researchers. It's not that this area is out of ideas — 135 businesses were formed through Peoria NEXT in its first 10 years — but he noted that only one out of every 10 god ideas will actually be something that could be put to practice and that only "one in 10 to the fifth degree" ever becomes a successful business.
Noting Peoria NEXT understands the technical assets of the region and proven ability to find investors he said, "I hope to further that connection and help Peoria NEXT grow beyond being just a regional organization in the years to come."
Brewen, 72, came to BRDC from Allied Chemical Corp., which is now Honey International, where he was director of biosciences for nine years. He replaces Kyle Hamm, who resigned earlier this year to become chief of staff in the state treasurer's office.
Paul Gordon is editor of The Peorian. He can be reached at 692-7880 or editor@thepeorian.com
