Max
05-26-2002, 07:55 PM
Caterpillar boosts Peoria biotech group
Big Yellow's involvement could yield big benefits
May 24, 2002
By STEVE TARTER
of the Journal Star
PEORIA - The addition of Caterpillar Inc. to Peoria's biotech consortium should be a boon to the group's efforts to provide jobs and growth for central Illinois.
Caterpillar Inc. wasn't a member of the leadership group that announced plans to make central Illinois a biotech center. But the earthmoving giant is on board now.
"That changed last fall," said James Vergon, hired by the Peoria Regional BioCollaborative in April to encourage business growth for the initiative. "Glen Barton (Caterpillar CEO) made the decision that Caterpillar needed to be involved."
That involvement could yield big benefits to a consortium that includes the area's hospitals, universities and the National Center for Agricultural Utilization Research, where a news briefing was held Thursday on efforts by the BioCollaborative.
Caterpillar employs about 120 Ph.Ds at its Tech Center in Mossville, more than the 100 Ph.D-researchers working at the Ag Lab, a fact that consortium members weren't even aware of, said Dr. Richard Lister, associate dean for strategic planning and development at the University of Illinois College of Medicine at Peoria.
After touring Cat's research facility last month with Ag Lab director Peter Johnsen, Lister said the pair had the same thought.
"I had no idea (that Caterpillar was involved in such far-ranging research)," he said.
While acknowledging differences between partners, Lister believes there's common ground for research.
"Caterpillar's working to develop an exoskeleton for a construction worker to move 800 pounds of dirt. Such research into human power augmentation could be used to assist patients who suffer strokes or spinal cord injury," Lister said.
The consortium plans to kick off its collaborative efforts with a discovery forum at the Civic Center on May 31. The invitation-only event includes opening remarks by Barton and a talk by Tarsem Jutla, director of innovation at the Cat Tech Center.
Tom Churchwell of ARCH Development Partners also will speak. The BioCollaborative has raised $4.3 million toward the $5 million needed to participate in ARCH's venture capital fund, Lister said, and expects to raise the rest by the deadline in late June.
"It should be a great party but the real question is what happens afterwards," said Vergon, describing the event as "a coming out party for researchers in the community."
Plans are to bring about 300 of the area's estimated 500 Ph.D- researchers under one roof for the day.
Vergon said he expects the collaborative efforts to draw "a minimum of five new tech start-ups" to the area over the next 24 months.
The key to area efforts is cooperation between the partners, Vergon said.
"People will say that this set of assets (Caterpillar, Ag Lab, hospitals, universities) have been here a long time so why hasn't there been cooperation in the past? Collaboration has been missing," he said.
While efforts to draw area researchers together are taking place, planners of the BioCollaborative are deliberating over the scope of the project, possibly including Champaign and Decatur in order to take advantage of the resources of the University of Illinois and the Archer Daniels Midland Co., Lister said.
Peoria is well positioned to take on the challenges of competing with other communities across the country that have sought to develop high-tech centers, he said.
"I really think this is do-able," Vergon said of the plans to bring new jobs and industry to the area. "If you don't try, you'll never get there."
Big Yellow's involvement could yield big benefits
May 24, 2002
By STEVE TARTER
of the Journal Star
PEORIA - The addition of Caterpillar Inc. to Peoria's biotech consortium should be a boon to the group's efforts to provide jobs and growth for central Illinois.
Caterpillar Inc. wasn't a member of the leadership group that announced plans to make central Illinois a biotech center. But the earthmoving giant is on board now.
"That changed last fall," said James Vergon, hired by the Peoria Regional BioCollaborative in April to encourage business growth for the initiative. "Glen Barton (Caterpillar CEO) made the decision that Caterpillar needed to be involved."
That involvement could yield big benefits to a consortium that includes the area's hospitals, universities and the National Center for Agricultural Utilization Research, where a news briefing was held Thursday on efforts by the BioCollaborative.
Caterpillar employs about 120 Ph.Ds at its Tech Center in Mossville, more than the 100 Ph.D-researchers working at the Ag Lab, a fact that consortium members weren't even aware of, said Dr. Richard Lister, associate dean for strategic planning and development at the University of Illinois College of Medicine at Peoria.
After touring Cat's research facility last month with Ag Lab director Peter Johnsen, Lister said the pair had the same thought.
"I had no idea (that Caterpillar was involved in such far-ranging research)," he said.
While acknowledging differences between partners, Lister believes there's common ground for research.
"Caterpillar's working to develop an exoskeleton for a construction worker to move 800 pounds of dirt. Such research into human power augmentation could be used to assist patients who suffer strokes or spinal cord injury," Lister said.
The consortium plans to kick off its collaborative efforts with a discovery forum at the Civic Center on May 31. The invitation-only event includes opening remarks by Barton and a talk by Tarsem Jutla, director of innovation at the Cat Tech Center.
Tom Churchwell of ARCH Development Partners also will speak. The BioCollaborative has raised $4.3 million toward the $5 million needed to participate in ARCH's venture capital fund, Lister said, and expects to raise the rest by the deadline in late June.
"It should be a great party but the real question is what happens afterwards," said Vergon, describing the event as "a coming out party for researchers in the community."
Plans are to bring about 300 of the area's estimated 500 Ph.D- researchers under one roof for the day.
Vergon said he expects the collaborative efforts to draw "a minimum of five new tech start-ups" to the area over the next 24 months.
The key to area efforts is cooperation between the partners, Vergon said.
"People will say that this set of assets (Caterpillar, Ag Lab, hospitals, universities) have been here a long time so why hasn't there been cooperation in the past? Collaboration has been missing," he said.
While efforts to draw area researchers together are taking place, planners of the BioCollaborative are deliberating over the scope of the project, possibly including Champaign and Decatur in order to take advantage of the resources of the University of Illinois and the Archer Daniels Midland Co., Lister said.
Peoria is well positioned to take on the challenges of competing with other communities across the country that have sought to develop high-tech centers, he said.
"I really think this is do-able," Vergon said of the plans to bring new jobs and industry to the area. "If you don't try, you'll never get there."