Access to Rowan University Resources Supports Growth of Startups at South Jersey Technology Park Incubator
Collaborative Workspace is One of 10 Approved
to Offer Rent Support Through NJ Ignite
TRENTON, N.J. (February 5, 2019) – The community of startups that has emerged at Rowan University’s Technology Business Incubator at the South Jersey Technology Park (SJTP) in Mullica Hill is a microcosm for New Jersey’s innovation ecosystem. Entrepreneurs from a variety of technology and life sciences sectors—including health technology, information technology, medical devices makers, and defense companies—work side-by-side as they advance their businesses. Many of the incubator’s tenant companies hire Rowan University students and graduates to fill jobs and internships.
Technology and life sciences businesses in their earliest stages that are considering joining the incubator can apply for rent support grants through the New Jersey Economic Development Authority’s (NJEDA’s) NJ Ignite Program. NJ Ignite provides up to nine months of rent support for startup businesses moving to collaborative workspaces. The funding is made possible through a combination of support from the NJEDA and the collaborative workspace, with the NJEDA supporting up to six months’ rent and the collaborative workspace supporting rent for half the length of NJEDA’s commitment. Due to SJTP’s affiliation with Rowan University, it can offer its companies participating in NJ Ignite an additional month of rent support, totaling ten months, with seven months of support coming from the NJEDA.
“Increasing collaboration among entrepreneurs is crucial to helping the State’s youngest companies flourish,” said Brian Sabina, NJEDA Senior Vice President – Office of Economic Transformation. “Governor Phil Murphy is committed to making New Jersey the State of Innovation, and programs like NJ Ignite are key to fulfilling that vision.”
Twenty-eight technology and life sciences startups currently call SJTP home. Each of these companies has access to Rowan University’s engineering, science, and business faculty and students, as well as their research, development, and commercialization expertise. They can also tap into SJTP's program of events and rich network of business resources, including legal, marketing/e-commerce resources, and venture capital. In 2014, Rowan University launched the Rowan Innovation Venture Fund, a $5 million fund designed to provide early-stage funding primarily to students, faculty, staff, alumni, and South Jersey individuals and companies that have developed and tested projects and products that are ready to compete in the marketplace.
In addition, tenants have access to some of the larger companies and research centers based at the SJTP, including Lockheed Martin, Inspira Health Network’s Innovation Center, and several of Rowan University’s Research Centers including Virtual Reality, Materials, Orthopedics, and the Center for Research and Education in Advanced Transportation Engineering Systems (CREATEs).
“One of our greatest assets is our ability to facilitate connections between our tenants and the broader New Jersey innovation ecosystem including governmental and scientific contacts,” said Jeanne Nevelos, Executive Director of the SJTP. “This includes making introductions between entrepreneurs and key individuals within the university’s network, including its two medical schools: the School of Osteopathic Medicine and Cooper Medical School at Rowan University.”
The Technology Business Incubator is one of ten collaborative workspaces that have already been approved to participate in the NJ Ignite Program. To learn more about the program and find a participating workspace by geographic location, please visit https://www.njeda.gov/njignite.
@NewJerseyEDA spoke with Nevelos about the incubator and her experience at Rowan University.
What would you say is the single biggest selling point for entrepreneurs moving to the incubator?
Access to a large and diverse university of more than 19,000 students offering a great talent pipeline of students, faculty expertise, and the ability to be part of a growing entrepreneurial community are among our strongest selling points.
What advice do you have for entrepreneurs looking to set up shop in southern New Jersey?
If you are seeking professional support, affordable space and access to other like-minded companies, the Technology Park can help you tap into the resources of one of the fastest growing universities in the country.
Any big plans for the incubator in the near future?
We have some innovative ideas that we plan to announce in the coming months. Stay tuned!
About Rowan University
Rowan University is a Carnegie-classified national doctoral research institution dedicated to excellence in undergraduate education. It offers bachelor’s through doctoral and professional programs to 19,500 students through its campuses in Glassboro, Camden and Stratford, New Jersey. Home to Cooper Medical School of Rowan University and the School of Osteopathic Medicine, it also comprises the William G. Rohrer College of Business; the Henry M. Rowan College of Engineering; the colleges of Communication & Creative Arts; Education; Humanities & Social Sciences; Performing Arts; Science & Mathematics; the School of Health Professions; the School of Earth & Environment, the Graduate School of Biomedical Sciences and a multidisciplinary honors college. Rowan is collaborating with regional leaders to create research and academic programs in health sciences. It has earned national recognition for innovation, commitment to high-quality, affordable education and developing public-private partnerships.