“We are delighted to have Walter as the speaker for our season premier event,” stated Peter Balbus, Chairman and President of the MIT Enterprise Forum of Chicago. “If there is anyone in Chicago who personifies innovation, it’s Walter Herbst with his long history in iconic product development. Walter will be highlighting excellent examples of innovation from his own experience, using his own brand of insight, warmth and humor as only he can.”

Walter’s session, “What about Innovation? What you Already Know (and Forgot) and What you need to Remember,” will illustrate how to best cultivate innovation, increase idea generation and affect the bottom line of individual organizations using powerful methods for long-term growth activity. The event is expected to draw 75-100 executives from the greater Chicago area, including business owners, corporate executives and venture capitalists.

“While everyone seems to be talking about ‘innovation,’ I’m not sure many really appreciate what it is, let alone how to get there,” said Herbst. “I’m delighted to be the speaker for this premier series on innovation so I can remind individuals about what they learned and probably forgot, and what they need to remember.”

Mr. Herbst holds over 85 patents for consumer, industrial and medical product innovations. He is a frequent contributor of articles in numerous publications, and is the co-author of the PDMA Handbook of Product Development, which has become the industry standard. Among numerous design awards, he was recognized by BusinessWeek magazine and the Industrial Designers Society of America (IDSA) with a "Design of the Decade" award for his design work.

The MITEF Season Premier Event offers provocative ideas, management insights and professional networking opportunities to senior business leaders while showcasing MIT’s contributions to innovation and entrepreneurship in business communities throughout the world. The intent of the event is to serve as a focal point for members and guests to learn, exchange views and enhance their ability to manage innovation in its many forms. The event is open to both MIT members as well as the general public.