Sheldon Baker10.21.11
Scott Steil is an international executive skilled in business development, management, sales, marketing and strategic planning. He graduated from St. Olaf College in Northfield, Minnesota, with a Bachelor of Arts degree in biology and a concentration in economics. He began working for F. Hoffmann-La Roche in Duluth, Minnesota in 1991 as a territory manager. In the mid-1990s he spent two years in Switzerland as part of Hoffmann-La Roche’s international development program focused on product management. He subsequently worked for Roche in Buenos Aires, Argentina where he served as a product manager and country manager for Paraguay and Bolivia, as well as a business unit manager. In this post, Scott led a 163 member marketing team and sales force, successfully managed $74 million in product sales and increased the company’s market share by 5% during his last year with Roche. He joined Humanetics in 2003 as vice president of sales and marketing. In June 2008, he founded and launched Nutra Bridge, which connects ingredient suppliers to marketers of foods and dietary supplements. The company’s mission is to represent innovative, branded and patented ingredients that are backed by world-class science supporting efficacy and safety. Nutra Bridge is focused on adding value to the supply chain by finding and helping develop unique ingredients and then offering them to marketing companies that truly value and require a strong scientific backbone for new product development. The exclusive product portfolio of Nutra Bridge includes 7-Keto (weight loss), MicroLactin (joint health), Inzitol (sports nutrition), AuroraBlue (antioxidant), InSea2 (blood glucose), and PeptiBal (immune support). Nutra Bridge was awarded the small company growth award by Nutrition Business Journal in 2011 after posting a revenue increase of 100%. This award is a milestone accomplishment and reinforces that the company’s strategic direction is in line with market demands.
Health E-Insights: Tell us a little about Nutra Bridge.
Mr. Steil: Nutra Bridge offers innovative ingredients that help marketers of dietary supplements and functional foods create top-shelf finished products. The company’s mission is to represent innovative, branded and patented ingredients that are backed by world-class science supporting efficacy and safety. Our key focus is on adding value to the supply chain by finding and helping develop unique ingredients and then offering them to marketing companies that truly value and require a strong scientific backbone for new product development.
Health E-Insights: What's the newest, freshest approach you are bringing to your company?
Mr. Steil: There are two key approaches we bring to the market. First is innovative, top-shelf ingredients that have real science and support legit claims that consumers can grasp. As the supplement industry evolves, innovation will be the driver of getting new consumers using and practitioners recommending nutraceuticals to improve overall heath. Second is providing product developers and marketers with ingredients that meet all established guidelines set by FDA, FTC and GMP. While this appears simple and something that most companies should do already, it is often not the case. Investing in doing all of the necessary steps to comply while at the same time bringing innovation to the market is the path we have chosen for long-term growth.
Health E-Insights: Are you meeting your goals for 2011?
Mr. Steil: Overall, we are meeting our goals for 2011. However, innovation has been very low over the last year in the supplement sector. Future market growth depends on this changing and we are working hard to partner with companies committed to bringing next generation products to consumers.
Health E-Insights: What significant trends do you see in the supplement industry?
Mr. Steil: The supplement market is poised for robust growth as consumers use more out-of-pocket dollars for healthcare. Innovation will drive market expansion and increased consumer acceptance. Ingredients that have solid, published science will flourish by helping support claims that meet FTC standards. New NDI guidelines, once implemented, will dramatically reduce the ingredient options for formulators, but will have a positive impact on enhancing the consumer experience and improving the legitimacy of the supplement category. And the line between pharmaceuticals and nutraceuticals will continue to blur, and optimal health will be achieved with combinations of both.
Health E-Insights: If you could be any character in fiction, who would you be?
Mr. Steil: Tough to beat James Bond. This guy would be my choice purely from an adventure point of view. Not to mention those innovative gadgets.
Health E-Insights: Do you have a favorite movie?
Mr. Steil: Any movie that features Matt Damon. He seems like one of the few Hollywood types that is both entertaining and humble at the same time. If I had to pick just one movie it would be the original Wall Street. This movie contains a boatload of life lessons.
Sheldon Baker wants to interview you. Contact Sheldon at sbaker@bakerdillon.com. Follow him on Twitter @NutraInk and visit his website at www.BakerDillon.com.
Health E-Insights: Tell us a little about Nutra Bridge.
Mr. Steil: Nutra Bridge offers innovative ingredients that help marketers of dietary supplements and functional foods create top-shelf finished products. The company’s mission is to represent innovative, branded and patented ingredients that are backed by world-class science supporting efficacy and safety. Our key focus is on adding value to the supply chain by finding and helping develop unique ingredients and then offering them to marketing companies that truly value and require a strong scientific backbone for new product development.
Health E-Insights: What's the newest, freshest approach you are bringing to your company?
Mr. Steil: There are two key approaches we bring to the market. First is innovative, top-shelf ingredients that have real science and support legit claims that consumers can grasp. As the supplement industry evolves, innovation will be the driver of getting new consumers using and practitioners recommending nutraceuticals to improve overall heath. Second is providing product developers and marketers with ingredients that meet all established guidelines set by FDA, FTC and GMP. While this appears simple and something that most companies should do already, it is often not the case. Investing in doing all of the necessary steps to comply while at the same time bringing innovation to the market is the path we have chosen for long-term growth.
Health E-Insights: Are you meeting your goals for 2011?
Mr. Steil: Overall, we are meeting our goals for 2011. However, innovation has been very low over the last year in the supplement sector. Future market growth depends on this changing and we are working hard to partner with companies committed to bringing next generation products to consumers.
Health E-Insights: What significant trends do you see in the supplement industry?
Mr. Steil: The supplement market is poised for robust growth as consumers use more out-of-pocket dollars for healthcare. Innovation will drive market expansion and increased consumer acceptance. Ingredients that have solid, published science will flourish by helping support claims that meet FTC standards. New NDI guidelines, once implemented, will dramatically reduce the ingredient options for formulators, but will have a positive impact on enhancing the consumer experience and improving the legitimacy of the supplement category. And the line between pharmaceuticals and nutraceuticals will continue to blur, and optimal health will be achieved with combinations of both.
Health E-Insights: If you could be any character in fiction, who would you be?
Mr. Steil: Tough to beat James Bond. This guy would be my choice purely from an adventure point of view. Not to mention those innovative gadgets.
Health E-Insights: Do you have a favorite movie?
Mr. Steil: Any movie that features Matt Damon. He seems like one of the few Hollywood types that is both entertaining and humble at the same time. If I had to pick just one movie it would be the original Wall Street. This movie contains a boatload of life lessons.
Sheldon Baker wants to interview you. Contact Sheldon at sbaker@bakerdillon.com. Follow him on Twitter @NutraInk and visit his website at www.BakerDillon.com.
