OSF HealthCare Newsroom

Distillery Labs officially opens for business

Thu, 01 Aug 2024 16:38:25 -0500

Distillery Labs held the official ribbon cutting for its new innovation hub on July 30. The event marked a significant milestone in the mission to support startup founders and small businesses.

Located in downtown Peoria, Distillery Labs is set to become a cornerstone of innovation and entrepreneurship for the Greater Peoria area. By providing a dedicated space for startups and small businesses, Distillery Labs aims to foster a vibrant community where all entrepreneurs have the opportunity to learn, connect, grow and thrive. The new facility offers a range of resources, including coworking spaces, mentorship programs, networking events, and access to essential business tools.

"We are excited to open our doors and welcome the community to Distillery Labs," said Doug Cruitt, Executive Director of Distillery Labs. "Our goal is to create a supportive environment where entrepreneurs can collaborate, innovate, and grow their businesses. The ribbon cutting is just the beginning of many great things to come."

Distillery Labs was launched in 2019, funded through a $10 million grant that is part of the larger Illinois Innovation Network (IIN). It is one of 15 hubs developed across the state of Illinois including ones in Chicago, Dekalb and Champaign-Urbana and is the first one to officially open.

Illinois Gov. JB Pritzker was on hand for the original announcement unveiling the vision for Distillery Labs and sent his congratulations.

"The Illinois Innovation Network represents a nexus of partnerships, innovation hubs, public and private universities, and national laboratories that will drive startups and small businesses to new heights in Illinois," said Governor JB Pritzker. "With the opening of this new innovation hub, Distillery Labs is turning that vision into a reality for entrepreneurs in the Peoria region, proving that our commitment to making Illinois the best state to start and grow a business extends to every corner of our state.”

OSF HealthCare, the University of Illinois System, Illinois Central College, and the Greater Peoria Economic Development Council have been key supporters in developing Distillery Labs.

“Distillery Labs is committed to strengthening the local economy by nurturing the next generation of business leaders. By bridging the gap between aspiring entrepreneurs and the resources they need to succeed, Distillery Labs is poised to make a lasting impact on the Peoria community,” added Chris Setti, CEO of the Greater Peoria Economic Development Council.

Among other things, Distillery Labs will be dedicated to finding solutions to improve the wellness of underserved populations and advance systems related to food, farming, and transportation and will contain spaces for startups, corporate partners, community organizations, universities and other stakeholders. A specific focus of the Labs will be crafting a diverse, inclusive, and welcoming environment.

New report supports OSF HealthCare strategy of expanding academic partnerships

Fri, 29 Sep 2023 12:11:09 -0500

The Illinois Science & Technology Coalition (ISTC) released a new report showing university campuses in Illinois founded 694 startups over the past five years, contributing 2,093 new jobs to the state. The unique data was released at Jump Trading Simulation & Education Center in Peoria, Illinois through ISTC’s Illinois Innovation Index on University Entrepreneurship. The report focuses on new business creation in the state through university assistance and affiliation.

The Index also found that of the active university-supported startups founded over the last five years, 82% (359) remained in Illinois. John Vozenilek, MD, vice president and chief medical officer, OSF Innovation and Digital Health says the report is impressive in showing how universities, which are anchor institutions in their communities, are economic drivers.

OSF HealthCare has 15 hospitals that also serve as anchor institutions in Illinois and Michigan. To accelerate innovation, OSF partners with five higher education institutions throughout the state. Dr. Vozenilek says leveraging their expertise in emerging technologies will advance new transformative ideas for health care coming from students as well as from OSF Mission Partners (employees).

Vozenilek was the keynote speaker at the event that highlighted the Illinois Innovation Index report findings. It also brought together key university, community and state economic development leaders to discuss the findings. Vozenilek stresses that new technology, such as virtual and augmented reality, as well as the Metaverse, will allow entrepreneurs to more easily scale educational simulations and training for new innovations, including new medical devices.

According to the ISTC report, women-founded companies increased their share of the startup population, from 28% in the 2018 Index to 40% in 2023. Vozenilek finds those results especially encouraging.

“I love to see the growth of women-owned businesses so the idea there are support structures and dedicated efforts to bring more diversity to our field, I think is incredibly important. We’ll see all kinds of new businesses coming from these constituencies.”

Foreign-born founder percentages increased from 35% in 2020’s Innovation Index to 48% this year according to the coalition. As Vozenilek sees it, that could help OSF HealthCare ensure it is tapping into global expertise.

“I was also intrigued by the state’s interest in foreign born entrepreneurs to give them visas so that some of their ideas take hold in our communities; so think about how we can really draw from the world community (experts) to address challenges here in Central Illinois.”

The Illinois Science & Technology Innovation Index also provided evidence that for every dollar spent on a university-backed startup, it resulted in $10 in follow-up venture capital funding, offering more evidence that university supported efforts are a good investment that result in turning successful ideas into promising businesses.

Video clips with Dr. John Vozenilek

Distillery Labs names new Executive Director

Tue, 25 Jul 2023 10:03:11 -0500

Distillery Labs has named Doug Cruitt, MBA, as its new Executive Director. The technology and innovation center launched in 2020 as part of the larger Illinois Innovation Network.

Cruitt comes to Distillery Labs as the founding principal of RIVR Strategic Coaching, a boutique strategic consulting and coaching firm specializing in entrepreneurship, leadership, self-improvement and strategic support to help others grow, lead and succeed. He also serves as a mentor at Distillery Labs, a mentor at the University of Illinois iVenture Accelerator program, is a committee member for the Peoria Chamber of Commerce Community Leadership School, and has founded or helped others launch and scale more than 15 startups over the course of his career.

“The role of Executive Director at Distillery Labs sits at the convergence of three things that I am most passionate about (outside of my family): community, entrepreneurship, and positively impacting the lives of others. To be given the opportunity to be a part of building and leading Distillery Labs is truly an honor. I look forward to stepping into this role to serve and support entrepreneurs throughout the region,” said Cruitt.

Cruitt takes over for Paul Leamon, the organization’s first executive director, who has remained as a consultant to Chris Setti, CEO of the Greater Peoria Economic Development Council (GPEDC), who has been the interim head of Distillery Labs since April of 2022.

“The search was pretty amazing. We had a great panel of community stakeholders from the economic development and entrepreneurial space,” explained Setti. “What stood out about Doug is that he has a really interesting background of working in corporate structures, but also in more entrepreneurial ventures. He's done mentoring with some of our startups and is big on studying and teaching leadership. And I think that this job, in addition to being a leader of Distillery Labs, is a community leadership position.”

“A big thanks goes to Chris Setti – and the GPEDC Board – for allowing Chris to step in and guide Distillery Labs these past 15 months,” said Bob Sehring, CEO of OSF HealthCare and chairman of the Distillery Labs board. “A strong foundation has been laid, and we are excited to welcome Doug as executive director. We look forward to him expanding the already welcoming entrepreneurial and innovative spirit that exists throughout the Greater Peoria community. We know under his leadership the relationships with already established community partners will continue to grow and ideas and new concepts will flourish, making this area even more attractive to businesses looking to recruit forward-thinking individuals, the best and brightest.”

Distillery Labs, which is funded through a $10 million grant that is part of the larger Illinois Innovation Network, will be located on Adams Street in downtown Peoria in the Thomas Building, a 50,000 square foot facility formerly occupied by Illinois Central College. Construction on the space will begin in late August. A ceremony celebrating the start of construction will be held on Thursday, August 17 at 10 am at Distillery Labs, 201 SW Adams St., Peoria.

Distillery Labs will ultimately be a tech, innovation and incubation community designed to foster opportunity throughout the greater Peoria region. It will have classes, workshops, public-private partnerships, student opportunities, and more.

Cruitt, who starts his new role July 31, is excited about the opportunities and possibilities that lie ahead.

“Building a strong startup community and entrepreneurial ecosystem is not a linear process where we can accurately predict its growth and evolution. The entire ecosystem will take many shapes and sizes over the coming years, decades, and beyond. I believe that at any given time, our ecosystem will be only a fraction of what it will become. And that should excite people. Look at all the resources we currently have in our region to support entrepreneurs. Look at the startup success stories of years past as well as the ones happening right now. Look at the momentum building around the region as a whole thanks to initiatives like Choose Greater Peoria and others,” said Cruitt. “Look at how well our region gives back to its community through supporting non-profits. Look at the pride and love that most citizens have for this place they call home. Look at the midwestern work ethic and resilience of its people. As you take a step back and look at all these things, recognize that this is only a fraction of what we will one day be. How exciting is that? Now, think about what our region will look like when we are globally recognized as a hub for entrepreneurs to launch and grow companies, drive innovation, and spur economic growth.”

To learn more, visit www.DistilleryLabs.org.