Nancy Wright is director of Bradley University Heartland Illinois Technology Enterprise Center (HITEC). Bradley University HITEC supports the entrepreneurial community in the commercialization of new technologies, providing assessment, market research, strategic partnering, and access to early stage financing.
Wright received a Bachelors degree in nursing from Marycrest College and a Masters degree from Bradley University. Prior to her position at Bradley, she was in health care administration.
Wright is a medical advocate for emergency on-call services for the Center for Prevention of Abuse and a special events volunteer for St. Jude Midwest Affiliate. In addition, she’s a member of the Downtown Rotary of Peoria, serves on several advisory boards for technology start-up business ventures, and Illinois Central College’s Procurement Technical Assistance Center.
She has three children.
Tell us about your background, schools attended, and family.
I grew up in western Illinois, coming from several generations of independent farmers. This heritage provided me with a strong work ethic, a respect for resources, and an accepted standard of teamwork for success. My parents were incredible role models, constantly demonstrating their Christianity and the ability to meet adversity with problem solving and determined focus. With these traits, they went from poverty level at the onset of their marriage to being very successful agricultural entrepreneurs. In grain farming, every year was a gamble against the natural elements of weather, insects, parasites, and national policies impacting exportation, embargoes, and pricing of the end product—not unlike the impact of fuel prices today. In light of these risks—and coupled with the fact that there was only one payday a year to support the family and the business—I learned financial management at an early age.
I came from a family of all girls, and my father’s goal was that all of his daughters would attend college and graduate with an undergraduate degree debt free. Whether we used the degree or not, he wanted us to always have the ability to support ourselves or our families if desired or needed. This was an uncommon approach in a rural community in the 1970s. I’m extremely grateful for his determination to achieve this goal before I ever understood the full impact of its gift.
I graduated from Marycrest College in Davenport, Iowa, with a Baccalaureate of Science Degree in nursing in 1979. I thought I would return to the rural community, raise a family, and work in a small community hospital the rest of my life. So before that happened, I wanted the experience and challenge of working in a trauma center. That’s how I arrived in Peoria. After looking at several institutions, I chose OSF Saint Francis Medical Center.
My first experience with Bradley University was when I decided to obtain a graduate degree. My sister and brother-in-law followed by receiving their undergraduate degrees. My daughter, Emily, is currently a junior at Bradley University majoring in health sciences and planning to enroll in Bradley’s only clinical doctorate program in physical therapy after completion of her undergraduate studies. Jesse, my son, has been accepted into the freshman class this fall and is planning on a degree in mechanical engineering. The strengths of Bradley made it the choice for my children after evaluating other universities throughout the Midwest.
I have one more daughter, Alexis, who’s 12. She attends seventh grade. My children are my joy, strength, support, and humor. Every day I’m honored to be their mother and remind myself at every challenge how much I’ll miss being a parent when they’ve all left home.
Tell us about Bradley University HITEC and what it offers the community.
The mission of the organization is to stimulate the development and commercialization of advanced technology by transforming the intellectual property in the region into successful enterprises, minimizing the management and financial risks faced in the early stages by entrepreneurs in the technology sector.
We provide services that support new technology ventures by assisting entrepreneurs, innovators, and start-up firms in high-growth, high-technology sectors. Some of those services include technology assessment, market research, prototype development, intellectual property protection assistance, business and financial plan development, market delineation, strategic partnering, seed and early stage finance options, guidance in seeking state and federal technology grants, and venture preparedness for venture capital and angel funding. Bradley University HITEC provides these services throughout 20 counties in central and northwestern Illinois.
The program serves as front door access to this entrepreneurial population. After creating a business model around the technology and ensuring the intellectual property is protected, we can then prepare it for introduction to the community through a venture forum called NEXTSteps. If the company or technology is maturing in the commercialization process, we can shepherd it into other venues in the region, such as an invitation to present to the Heartland Angel Network.
There are eight centers in the state, and the resources were committed to improve the state’s technology infrastructure and the skills of our workforce to support a technology-based economy. It’s necessary to improve Illinois’ competitiveness in the global, high-tech economy and ensure the coming generations of graduates with advanced degrees from our universities don’t need to leave Illinois to use their intellectual capabilities. The goal is to nurture and grow the intellectual wealth of the region. If we provide the proper support and incentives for the establishment and retention of new ventures, there will be a positive impact on the growth and diversification of the regional economy.
As director, what role do you play in HITEC?
On a daily basis, I provide oversight of the program, grant requirements, and expense allocation and design and lead effective strategies to transfer technology and research into long-term, viable enterprises. I provide leadership for technology commercialization initiatives and am responsible for integration of our activities with the university, research, scientific, educational, and entrepreneurial communities. I represent the university in a leadership role through speaking engagements and by serving on advisory boards for several businesses and organizations in the community.
My position includes responsibility for the budget process and all necessary requirements to pursue and maintain grant funding for the center. I’m also responsible for the statistical reporting of the center’s activities to the State of Illinois, community leaders, and the university on both a quarterly and annual basis. It’s imperative that I work closely with civic leaders and business development organizations to ensure our efforts remain cohesive with the initiatives of the region and to leverage all of the resources available, maximizing the economic value to the entrepreneur and the community.
The most rewarding part of my role is match making. After assessing a particular technology and the owner, we get active in finding the right resources, people, and funding. This translates to matching additional research talent through someplace like the USDA Ag Lab, finding management to finish off a team, or locating funding sources that will back a technology at that particular stage of development. We find organizations that will create prototypes for product demonstration, organizations that will serve as beta test sites, or graduate students that will finish drafting design or fluid dynamics. The greatest day is when you see the joy in the untiring, long-suffering inventor when we make a connection for achievement of a significant milestone.
Discuss how HITEC came about and why it was needed at this point in Peoria’s history.
Bradley University Heartland Illinois Technology Enterprise Center (HITEC) began in fall 2002 when Bradley University was awarded a grant through the Illinois Department of Commerce and Economic Opportunity (DCEO) to establish a center in Peoria to work with researchers, faculty, and technology entrepreneurs to transfer new technologies and innovations into commercial enterprises. Bradley University further supports the program through matching funds, and the National Center for Agricultural Utilization and Research (USDA Ag Lab) provides support with facility space and support resources.
Peoria NEXT had its beginning in fall 2001, with a mission to create a healthier future for our regional community, evidenced by increased economic growth and diversity, improved physical wellbeing, and the resultant social stability and opportunity. It holds as its vision to be the preferred Midwestern region in support of the culture of discovery, the creation of innovation, and the implementation of commercialization in the areas of life science, material science, and engineering science. The Bradley University HITEC had as its designed mission in the original scope of work to take the initiatives of Peoria NEXT to the implementation stage. So it’s evident that the timing was perfect for a synergistic relationship in this region.
The combination of all of the region’s resources provide leverage to achieve the larger goals, like the creation of a full menu of resources for the entrepreneur, strong programming for educational opportunities, and the development of the medical-technical district, and the Peoria Innovation Center.
How many success stories has the program had? Tell about a few.
During the last two and a half years, we’ve evaluated more than 300 individual technologies. It was a surprise to all involved how many independent individuals outside of the partner institutions and organizations were writing software code, designing articulating all terrain vehicles, or creating conductive uses from silver ink. The entrepreneurial population is more prolific than many realize.
We maintain an average active client base of approximately 80 clients at any given time. Of those, 50 percent of the technologies fall into one of the four categories of engineering: chemical, mechanical, electrical, or manufacturing. The other clients fit into the sectors of medical technology, agri-science, nanotechnology, energy applications, and information technology and software application. Of all of the individuals and companies that have sought our consultation, a solid 50 to 60 percent are independent and not employed by an anchor institution of Peoria NEXT or a formal grant partner of Bradley University HITEC. These are individuals who significantly contribute to the intellectual property of the region and need introductions and formal relationships with the established research and development community. It’s necessary that legal, accounting, and finance expertise be selected and official presentation and introduction to investors and sponsors occur.
One of our successful clients is an information technology application. BU HITEC rewrote the business plan, set up Bradley University marketing and communications students for web design, prepared the company for public presentation to the angel and venture capital community, and awarded a HITEC seed loan to achieve some initial milestones. This assistance resulted in a 44 percent growth in employees, the securing of multiple national contracts, and a total of $1.2 million in investment.
Another example of our work relates to a gas analysis and identification process developed to trace origin and ownership of gas storage fields. The company has been awarded an Illinois Technology Challenge Grant for research and development, and, in the first year of work with HITEC, $1.1 million in outside funding was reached. A new, state-of-the-art laboratory facility was built and is home to 25 employees.
Are other community organizations involved in helping BU HITEC in its mission? How do the various entities work together?
We work closely with many organizations that may not focus on technology commercialization and have service expertise that BU HITEC doesn’t. It’s imperative that we find all resources available to realize the goal of minimizing the risk associated with high-risk, start-up launches.
Some of the organizations external of Bradley University include the Economic Development Council, ICC PTAC, area chambers of commerce, Illinois Manufacturing Extension Center, Biotechnology Research and Development Corporation, University of Illinois College of Medicine at Peoria, Caterpillar Technology Services, National Center for Agricultural Utilization and Research, the banking community and lending organizations, legal firms (especially those involved in the patent process and company formation), and accounting firms.
We also have an open door with the partner organizations of Peoria NEXT for assistance in evaluating technologies and providing consultative services to clients. Most of these organizations serve as formal advisors to HITEC on the board.
Do you think anchoring BU HITEC in a university setting is a good choice? What are the benefits to connecting the entrepreneurial community with a university?
The anchor with Bradley University delivers immeasurable value. First, you may be aware that Bradley University’s Entrepreneurship Program has been ranked in their category as one of the top 10 programs by Entrepreneur Magazine. The final rankings are based on more than 70 separate criteria, including course offerings, teaching and research faculty, outreach initiatives, research centers, degrees and certificates awarded, and access to venture and capital funding. This rank is directly attributed to years of dedication in assisting entrepreneurs.
We start with all of the Bradley colleges, faculty, and staff who educate and support the efforts. We often rely upon their talents to support the innovators who consult us. Some apply to be a student project, receiving consultant-level assistance at no charge. Others use the engineering college to get drafting, design, or testing completed to apply for a patent—or a consultation with finance and accounting professors might be needed. In addition, Bradley HITEC has the ability to use the facilities and support resources of the university to accomplish its mission.
The Foster College of Business Turner Center for Entrepreneurship is a significant strength. This is our foremost area for referral exchange to benefit the entrepreneurial community at large. The centers located here include Illinois Entrepreneurship Center, Small Business Development Center, International Trade Center, Asia Trade Center, and the NAFTA Opportunity Center. Bradley HITEC works in concert with these centers to provide the absolute best options to all of our clients, preventing any duplication, and creating a model that’s often used as a benchmark.
Prior to your position at BU HITEC, you worked in health care administration. How did that prepare you for your current role?
My 23-year tenure with the OSF HealthCare System gave me incredible learning opportunities. I began in medical-surgical nursing and moved into a clinical specialist role in nutritional sciences and support. This was the most rewarding and stimulating part of my nursing career. I had the opportunity to learn from the two best internal medicine physicians this region offered, Dr. Mike Gulley and Dr. Jerry McShane. This position allowed for participation in clinical research, intense patient interaction, and development of treatment protocols and educational curriculum for medical students, nursing staff, and patients. The educational curve and the experiences were life and career changing.
This clinical work led to development of a business line, and I became the department manager. I enrolled at Bradley to obtain the administrative and business skills I now needed as I moved into management. I then was offered a position with OSF Saint Francis, Inc., another corporation of The Sisters of the Third Order of Saint Francis. This segment of my career launched me into the business development sector. I had the opportunity to conduct feasibility studies and market analyses to determine new business locations and market expansion, as well as establish and manage multiple sites of business. I was able to receive extensive continuing education in sales, quality planning and management, strategic planning, and consulting from some of the best consultants in their industry.
I also worked in the arena of contract negotiations and managed the performance of the various vendor and employer contracts. I did this on a divisional basis, needing the ability to represent and understand five other business lines; several of these businesses had six different locations with different cost and charge structures. An in-depth knowledge of the financial impact of discounting services based on the demographic population of a particular region was required. Important, too, was the accountability for monitoring and reporting the performance of the various contracts and the translation to net revenues.
I’ve always embraced the entrepreneurial spirit, and the sisters provided the phenomenal opportunity to start businesses without the risk of using personal capital. My father always told me how fortunate I was to be starting businesses with my employer’s money. The opportunities and experiences I received throughout my employment in health care were absolutely invaluable to my advancement and are all very portable.
As the health care industry changed, I found myself in a position, as many do, of no longer having the same passion for my work. I wanted new challenges and to be back in a role where I could use my creativity and learn every day. I made a conscious decision to leave health care and began a strategy about three years before taking the Bradley University Heartland Illinois Technology Enterprise Center position. Focus, determination, and patience would be required if I was to “change my stripes” and move to a new industry, yet remain in the central Illinois market. I was very fortunate to find a position where I could utilize my previous skills while mastering new knowledge constantly.
In your opinion, what’s the key to helping Peoria achieve its goals of being the community of choice for high-technology jobs and health care innovation?
To create sustained change, it’ll take all of the talented and knowledgeable people of this region pushing with all of their individual and organizational resources towards a secure future. A world of high-velocity change calls for radical shifts in behavior. Specifically, we must think differently: reorder our priorities, develop faster reflexes, and remain agile. Credit is unimportant. We must not think that cultural transformation can occur without pain and chaos. This is an agonizing process, but if it’s done correctly, the payoff is worth the price of admission, and I’m delighted to have a ticket to the pandemonium.
The map has been designed, and it’s mandatory that we not lose the momentum and focus to achieve. Lasting environmental and cultural change takes time. I encouraged those who are discouraged, whether an entrepreneur or a civic leader, to look back to two years ago and count the milestones passed, measure the differences, celebrate the successes, and push forward.
What’s the best aspect of your job? The most challenging?
The best aspect of my position is the incredible variety of technologies and people that cross our threshold. Some of the individuals I’ve met are unaware of the mark they’ve left on me or the knowledge they’ve imparted. The other great thing is the team I’m privileged to work with; they’re inspired, passionate, knowledgeable, and very client focused.
The most challenging part of my job is the difficulty getting recognition and support for independent innovators. These entrepreneurs require strength and leverage in securing resources, appointments, introductions, and capital to launch independent technology. A culture of acceptance hasn’t been readily adapted for the cultivation of raw technology. The life cycle for incubation and opportunity for failure could be dramatically reduced with this nurturing. The Peoria Innovation Center and the development of a Med-Tech District will meet many of these needs. It’s designed specifically to place fledgling businesses in this resource-rich environment and with enterprises at various stages of commercialization that can lend experience and share services.
What’s the best truth you’ve heard since taking over as director of BU HITEC?
If a technology isn’t valid, all of the resources and assistance won’t make it so. It’s better, at the risk of significant disappointment to the entrepreneur, to help them to see this as quickly as possible to decrease the loss of time and funds. I like to ask during staff meetings, “Are we sure this dog actually barks?” We work with very bright people in a wide variety of scientific fields. The information presented to us is most detailed and convincing, but if the intellectual property protection (patent) isn’t filed, the first step of our plan is to find the expertise to confirm the proof points of the technology before valuable resources are expended or there are public ramifications of premature launch.
Is there anything else you would like to address?
My career path has given me many great learning opportunities and experiences, and I’m pleased and honored to be with my alma mater, Bradley University. I’ve been richly blessed throughout the course of my life—from my parents’ sacrifices, the constant support of my children, and those who mentored me along the way.
I’m grateful to all of the individuals I’ve come in contact with in this community. I’m surprised every day with the talent and resources that exist here; I think the future looks grand. I’m proud to be affiliated with this community and the cultural and economic initiatives under way. Someday when I’m rocking away on the front stoop at the retirement village, I’ll be saying, “I was there when . . .” TPW