Peter Balbus to Speak at Business Innovation Conference in Chicago October 5-7, 2009

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Noted strategist and technology commercialization expert to be featured speaker at thought-provoking business innovation conference; topic of presentation is "Innovation for Tough Times"

Peter G. Balbus

While many executives assume that prudence would warrant adopting a wait-and-see posture with curtailed spending in the current economic climate, exactly the opposite is true

Pragmaxis LLC , a leading business strategy, innovation management and technology commercialization consulting firm, announced today that its founder and managing director Peter Balbus will be a featured speaker at the 2nd Annual Business Innovation Conference being held at the suburban Chicago Rice campus of Illinois Institute of Technology (IIT) in Wheaton, IL October 5-7, 2009.

Balbus' presentation is titled "Innovation for Tough Times". He will emphasize why economic conditions such as those that exist today are often the best times to initiate and sustain innovation initiatives for businesses of all sizes. He will cite numerous examples of companies that were formed or emerged as dominant competitors in prior recessions due to their successful management of innovation, and he will outline how high-impact innovation initiatives can be launched today with minimal added cost to current business operations.

"While many executives assume that prudence would warrant adopting a wait-and-see posture with curtailed spending 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. Innovation is no longer an optional luxury for any business today - it has become a critical agent for survival, let alone profitable growth."

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.

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 750 individuals who share a strong interest in innovation. The focus of BIG is to foster creation of an integrated innovation ecosystem that will provide resources and accelerate results for innovation initiatives. PRWeb is a charter sponsor of Business Innovators Group.

Balbus is also a Founding 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.

He is currently working with an active clientele that includes a mix of senior executives and technologists in Fortune 1000 corporations, mid-sized growth companies, venture-backed start-ups and research organizations.

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, turn-arounds, and business consortia. While the firm offers a broad base of experience in integrated business and technology strategy, it specializes in assisting clients understand and capture value from the emerging fields including nanotechnology, solid state electronics and advanced materials science - in particular, how 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 range of industries including: aerospace, consumer and industrial electronics, chemicals, consumer packaged goods, energy, financial services, food & beverage, manufacturing, telecommunications and transportation.

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