A meeting of the Capital City Redevelopment Corporation (CCRC) Board has been scheduled for Tuesday, April 16, 2019 at 10:00 am in the EDA Board Room, 36 West State Street, Trenton, NJ.
A copy of the proposed agenda can be found at http://web.njeda.com/ccrc/page.aspx?id=2461
NJ Ignite Participant Rutgers EcoComplex is a hub of entrepreneural activity.
TRENTON, N.J. (April 4, 2019) – The Rutgers University EcoComplex in Bordentown is a hub of activity for clean/alternative energy and environmental technology companies in New Jersey. Complete with amenities that include ample lab and office space, and a 1,900-square-foot, two-story “scale-up” lab that can be customized for specific demonstration activities, the EcoComplex is ideal for young companies working to commercialize their products.
The EcoComplex Clean Energy Innovation Center and Business Incubator offers startups the dual benefit of affordable lab and office space and easy access to educational and networking opportunities including workshops, events, and training sessions geared toward helping emerging companies flourish. Through a program called EcoIgnite: Clean Technology Accelerator, which is funded through the United States Economic Development Administration’s i6 Program, the incubator provides entrepreneurial boot-camps and meetups for companies to connect with investors, developers, and decision makers.
Many startup companies and Rutgers University spinouts have successfully graduated from the incubator since its inception in 2005, and tenants have employed Rutgers students and alumni for jobs and internships.
Rutgers EcoComplex is also an approved collaborative workspace under the New Jersey Economic Development Authority’s (NJEDA’s) NJ Ignite Program, meaning the EcoComplex has the ability to provide grant funding through the NJEDA to prospective new tenants to help support a portion of their rent.
Rutgers EcoComplex Director Serpil Guran sees NJ Ignite as an innovative way to attract new tenants to the incubator.
“Our facility and comprehensive business development program are perfect for startups in the clean energy and environmental technology industries that are looking for a supportive launching pad,” Rutgers EcoComplex Director Serpil Guran said. “By providing rent support through NJ Ignite, we hope to bring these businesses out of their garages and basements and into a place specifically tailored to help them succeed.”
NJ Ignite provides up to nine months of rent support grants for technology and life sciences 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 providing up to six months’ rent and the collaborative workspace providing rent for half the length of NJEDA’s commitment. Due to the EcoComplex’s affiliation with Rutgers University, it can offer participating tenants an additional month of rent, totaling ten months, with seven months of support coming from the NJEDA. The Clean Energy Innovation Center and Business Incubator is one of 11 collaborative workspaces currently approved by NJEDA to participate in NJ Ignite.
“Collaborative workspaces like the EcoComplex Clean Energy Innovation Center and Business Incubator, which sit at the intersection of industry and academia, are vital to Governor Murphy’s vision of making New Jersey the State of Innovation,” New Jersey Economic Development Authority (NJEDA) Chief Executive Officer Tim Sullivan said. “The tenants benefit from resources and collaboration opportunities offered through the incubator, and New Jersey benefits from the jobs that are created and from the innovative work being done by these early-stage companies.”
With fifteen companies currently operating in the facility and approximately two dozen entrepreneurs participating in EcoIgnite over the past two years, the EcoComplex “Clean Energy Innovation Center and Business Incubator” plays an important role in New Jersey’s innovation ecosystem. In 2018 alone, the incubator’s tenants created 17 jobs, brought in over $2.2 million in revenue, and attracted $120,000 in third-party funding.
Clean/alternative energy and environmental technology companies interested in touring the Rutgers EcoComplex’s Clean Energy Innovation Center and Business Incubator should contact Guran at 609-499-3600 x 4225 or sg795@njaes.rutgers.edu.
To learn about the multitude of resources available to help technology and life sciences companies thrive, visit https://www.njeda.gov/tls and follow @NewJerseyEDA on Facebook, Twitter, and LinkedIn.
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The New Jersey Economic Development Authority's next public Board Meeting will be held on Tuesday, April 9, 2019 at 10 a.m. at the EDA offices at 36 West State Street, Trenton. A copy of the proposed agenda can be found prior to the meeting at www.njeda.gov/Board. Following the Board Meeting, minutes and the full agenda will also be available at www.njeda.gov/Board.
Under the direction of CEO Mathieu Petitjean, CCIT Tenant Genesis Imaging Services offers cloud-based image analysis tools for scientists and researchers to quantify fibrosis.
TRENTON, N.J. (April 2, 2019) – Responding to a growing need to find a cure for fibrotic diseases, Genesis Imaging Services offers cloud-based image analysis tools for scientists and researchers from its new home at the Commercialization Center for Innovative Technologies (CCIT) – a life sciences incubator owned by the New Jersey Economic Development Authority (NJEDA).
With an initial focus on a liver condition called “nonalcoholic steatohepatitis,” more commonly known as NASH, Genesis Imaging is developing novel automated tissue imaging methods to quantify fibrosis and sees its proprietary image analysis methods as instrumental to scientists and researchers developing pre-clinical and clinical-stage therapies. Genesis Imaging’s pipeline includes image analysis tools to quantify collagen/fibrosis in liver, kidney, lung, heart, gastrointestinal track, and skin fibrotic diseases, as well as several cancer conditions where the extracellular fibrotic structure matters.
Genesis Imaging has conducted and published collaborative projects with the Cleveland Clinic, University of Michigan, University of Florida, University of San Diego, Beth Israel Deaconess Medical Center, and the NASH-Clinical Research Network, and has serviced major pharmaceutical and biotechnology companies in the field of fibrosis quantification. The company’s funnel of academic and industrial collaborations is expanding rapidly worldwide.
Genesis Imaging moved to the CCIT life sciences incubator in North Brunswick after outgrowing the shared workspace it had been leasing in Princeton.
Genesis Imaging Chief Executive Officer Mathieu Petitjean says he was drawn to CCIT for its reputation and high-quality program, which includes a suite of amenities and numerous networking and collaboration opportunities. Petitjean, a resident of Branchburg, sees Genesis Imaging’s arrival at CCIT as a homecoming of sorts. He was LLTech’s chief operating officer of US operations during the company’s time at CCIT in 2011 and 2012.
“When it came time to find lab space for Genesis Imaging, I knew right away that CCIT offered the amenities we needed,” Petitjean said. “We couldn’t be happier with the personalized attention, affordable lab space, and access to business-development resources. Locating in central New Jersey also positions us well to form partnerships with the many large pharmaceutical companies based in the Garden State.”
Strategically placed in the heart of the State’s research corridor between Rutgers and Princeton universities, CCIT offers 27 wet labs, the most of any life sciences incubator in New Jersey. Currently home to nearly two-dozen businesses, the 46,000-square-foot incubator includes both small and large labs, as well as offices. CCIT also offers discounted first-year rent for university spinouts. Additionally, CCIT provides tenant companies like Genesis Imaging with educational programs and a host of supporting resources, including help to identify funding sources and access to small business development resources, networking opportunities, and administrative support.
“Seeing innovative entrepreneurs like Mathieu choose to locate in New Jersey reaffirms Governor Murphy’s message that the Garden State is reemerging as leader in innovation,” NJEDA CEO Tim Sullivan said. “We are pleased that Genesis Imaging has chosen to be part of the exciting things that are happening at CCIT.”
CCIT is located within the Technology Centre of New Jersey, a 50-acre research park that houses such companies as Allergan, Boehringer Ingelheim Animal Health USA, Inc., and CCIT graduate Orthobond. Companies interested in touring CCIT should visit www.njeda.gov/CCIT or contact Lenzie Harcum at lharcum@njeda.com.
To learn about the multitude of resources available to help technology and life sciences companies thrive, visit https://www.njeda.gov/tls and follow @NewJerseyEDA on Facebook, Twitter, and LinkedIn.
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Beena Sukumaran, Ph.D. vice president for Research, Rowan University
TRENTON, N.J. (March 27, 2019) – Marking an exciting milestone in the advancement of the State’s Research with NJ portal, Rowan University today announced that it has launched Research with Rowan. Research with NJ is a free portal that showcases New Jersey’s experts in science, technology, engineering, and mathematics (STEM), including the researchers’ professional backgrounds, publications, and achievements. With today’s announcement, all six of the participating universities – Rowan; New Jersey Institute of Technology; Princeton; Montclair State; Rutgers; and Stevens Institute of Technology – now have their own unique portals that combine to populate the state-level Research with NJ portal.
“Governor Murphy’s plan for building a stronger and fairer New Jersey economy is centered around fostering innovation. Research with NJ facilitates collaboration among scientists, engineers, innovators, and business leaders who can turn ideas into valuable businesses and products,” said NJEDA Chief Executive Officer Tim Sullivan. “Having all six New Jersey research universities engaged in this project ensures the database is comprehensive and creates the most opportunities for strengthening our innovation economy.”
Research with NJ is a collaborative effort by the New Jersey Economic Development Authority (NJEDA) and the Office of the Secretary of Higher Education (OSHE) to forge stronger connections between New Jersey’s research universities and industry. In total, Research with NJ includes nearly 3,700 faculty profiles and more than 210,000 published articles. The database was recently expanded to include information on 2,200 research grants and 75 core facilities (equipment). Research with Rowan alone contains more than 250 profiles and more than 4,000 published works. Consolidating this robust body of research in an easy-to-navigate database facilitates building innovative businesses based on the latest scientific and technological breakthroughs. The database can be accessed at www.ResearchwithNJ.com.
“Research with Rowan provides entrepreneurs and industry leaders a window into the innovative work going on at Rowan University,” said Beena Sukumaran, Ph.D. vice president for Research, Rowan University. “This insight will open the door to groundbreaking collaborations that have the potential to usher in a new era of New Jersey’s leadership in the innovation economy and create new opportunities for students and workers.”
The announcement of Rowan’s research portal took place at the University’s second annual Faculty Research Day. The event, which featured 100 faculty members and 18 research partners, celebrates outstanding research, scholarship, and creative activity by faculty from all Rowan campuses, all colleges and schools that comprise Rowan, and dozens of disciplines. The day’s program included a research showcase; awards presentations; and keynote addresses by BioNJ President and CEO Debbie Hart and New Jersey State Assemblyman Andrew Zwicker, head of communications and public outreach at the Princeton Plasma Physics Laboratory.
“We appreciate the commitment Rowan and the other five New Jersey research universities have made to this initiative,” said Secretary of Higher Education Zakiya Smith Ellis. “The research taking place in our universities is one of New Jersey’s most important assets, and this database allows entrepreneurs to leverage it to build the next generation of groundbreaking companies and products.”
Research with NJ was developed under the leadership of an Advisory Board consisting of the participating research universities and industry representatives from the New Jersey Business & Industry Association, Choose New Jersey, BioNJ, the HealthCare Institute of New Jersey, the R&D Council of New Jersey, and the New Jersey Tech Council. The Advisory Board provides oversight and recommendations to ensure the portal’s sustainability and success.
Presented by the South Jersey Technology Park, Rowan’s Faculty Research Day was sponsored by Elsevier, Inspira Health Network, Ørsted, Saul Ewing, Fisher Broyles, and TreMonti Consulting.
To read Governor Murphy's full economic plan, please visit: https://nj.gov/economicplan
About the Office of the Secretary of Higher Education
The Secretary of Higher Education is the primary advisor to the Governor on higher education policy in New Jersey. The Office of the Secretary of Higher Education (OSHE) advocates for and develops policies and programs that provide students from all backgrounds accessible and affordable higher education opportunities that prepare them for success in life after college. In addition, the Secretary works to maximize the talent and resources in our colleges and universities, matching world-class research with the needs of industry, the demands of students, and the policy goals of the State.
To learn more about the Office of the Secretary of Higher Education, visit https://www.state.nj.us/highereducation/ and follow @NJHigherEd on Twitter.
About the New Jersey Economic Development Authority
The New Jersey Economic Development Authority (NJEDA) serves as the State’s principal agency for driving economic growth. The NJEDA is committed to making New Jersey a national model for inclusive and sustainable economic development by focusing on key strategies to help build strong and dynamic communities, create good jobs for New Jersey residents, and provide pathways to a stronger and fairer economy. Through partnerships with a diverse range of stakeholders, the NJEDA creates and implements initiatives to enhance the economic vitality and quality of life in the State and strengthen New Jersey’s long-term economic competitiveness.
To learn more about EDA resources for businesses call EDA Customer Care at 609-858-6767 or visit https://www.njeda.gov and follow @NewJerseyEDA on Facebook, Twitter and LinkedIn.
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Colab at Bell Works in Holmdel is one of 11 collaborative workspaces currently approved by NJEDA to participate in NJ Ignite.
TRENTON, N.J. (March 25, 2019) – In 2017, TrueConnect founder Michael Glaicar was deciding whether to start his company in New York City or New Jersey. After touring Colab, Bell Work’s coworking space in Holmdel, he immediately knew that it would be a natural fit for his cloud-based software startup.
Among the things that impressed Glaicar was the magnitude of the innovation ecosystem forming at Bell Works. He noticed technology companies like iCIMS and WorkWave were flourishing at Bell Works and saw the potential for a fast-growing tech company to thrive in Monmouth County. The decision to locate at Bell Works was also based on his feeling that the impressive building and its resources would be valuable for recruiting talent, and the opportunity to network with entrepreneurs from a broad range of industries would be beneficial to his company’s growth.
Glaicar’s sentiments are echoed by many of the more than 170 entrepreneurs currently calling Colab home.
“We’ve experienced exponential growth in the past year as more people realize the value of the ‘metroburb’ work-shop-play environment taking shape at Bell Works,” said Colab Managing Director Sean Donohue. “We attribute this growth to word-of-mouth referrals and are optimistic that the New Jersey Economic Development Authority’s (NJEDA’s) NJ Ignite Program will help attract even more tenants to the coworking space.”
NJ Ignite supports technology and life sciences startups moving to collaborative workspaces by offering rent support, making lab and office space more affordable, and providing eligible startups with greater access to environments where they can work alongside other growing technology and life sciences companies. For incubators, accelerators, and coworking spaces, the program serves as a tool to help attract young businesses to their facilities, while encouraging the creation of new collaborative workspaces throughout the state. Colab is one of 11 collaborative workspaces currently approved by NJEDA to participate in NJ Ignite.
“Governor Murphy often talks about how forming technology hubs where entrepreneurs can gather and collaborate is essential to reclaiming New Jersey’s role as a leader in innovation,” NJEDA CEO Tim Sullivan said. “The community of innovators at Bell Works is a representation of this model in action. Through NJ Ignite, we aim to make collaborative workspaces more accessible to New Jersey technology and life sciences companies in their earliest stages.”
TrueConnect was one of 22 companies that participated in New Jersey Founders & Funders this past November. New Jersey Founders & Funders enables early-stage businesses to meet with potential investors in 10-minute, one-on-one “speed dating” sessions to discuss strategy, business models, and funding opportunities. Each participating entrepreneur meets an average of six investors in curated one-on-one meetings during the event.
The next New Jersey Founders & Funders event is scheduled for May 9. Entrepreneurs interested in participating in New Jersey Founders & Funders can apply online at https://application.njeda.com/tls/. Participation is a on a first-come-first-served basis.
To learn about the various resources available to support the technology industry, visit https://www.njeda.gov/tls and follow @NewJerseyEDA on Facebook, Twitter, and LinkedIn.
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During the weekend of March 16-17th, EDA will be performing scheduled maintenance on the web servers that host www.njeda.gov, affirmative action and the online application web sites. Because users may experience loss of data when submitting forms, EDA is disabling the online application and affirmative action sites completely during this time. These areas should be working normally following the maintenance period. We apologize for any inconvenience this may cause.
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NJEDA CEO Tim Sullivan moderates a panel focused on the potential for the State’s innovation economy to benefit from redevelopment in opportunity zones. From left: Tim Sullivan, Christopher Paladino, President DEVCO; Carl E. Van Horn, Ph.D., Distinguished Professor of Public Policy, Director, John J. Heldrich Center for Workforce Development; Mike Meyer, Hugo Neu Corporation, Aisha Glover, President & CEO Newark Alliance.
Trenton, NJ (March 11, 2019) – Governor Phil Murphy used today’s New Jersey Opportunity Zone Summit to demonstrate the State’s preparedness for attracting investment to the 169 Opportunity Zones in 75 municipalities spread across New Jersey’s 21 counties.
“Attracting investment to areas of the state that have been overlooked or perceived by investors as overly risky is key to achieving our goals for a stronger and fairer economy,” said Governor Murphy. “We are working together across state government to help Opportunity Zone communities put their best foot forward as they compete for investment dollars on a national scale.”
The New Jersey Opportunity Zone Summit, hosted by Choose New Jersey, featured a discussion between Governor Murphy and Anthony Foxx, Chief Policy Officer, Lyft, and former United States Secretary of Transportation. The discussion was facilitated by Choose New Jersey Chief Executive Officer (CEO) Jose Lozano.
Governor Murphy and Secretary Foxx discussed how the Opportunity Zone program will help to raise the profile of urban areas that have experienced long-term disinvestment. Foxx highlighted Lyft’s commitment to equitable mobility in New Jersey, particularly in areas underserved by existing traditional transit options. Foxx spoke to Lyft’s focus on forging public-private partnerships, growing the Lyft driver community, and the company’s plans to open a driver Hub in Jersey City later this year.
“Transportation is critical to economic opportunity and at Lyft, we are committed to providing rides to those who need them most,” said Foxx. “Not only is it imperative that we help people move around the state affordably and reliably, but we want to invest in New Jersey through growing our driver community and supporting local businesses. I commend Governor Murphy on not only highlighting this important initiative, but on investing in projects that will make a difference in Opportunity Zones across the state.”
Governor Murphy also highlighted several initiatives that will help to facilitate investment in New Jersey’s Opportunity Zones. As proposed in the Governor’s Economic Plan announced last October, the New Jersey Economic Development Authority (NJEDA), in partnership with the New Jersey Department of Community Affairs (DCA) and the New Jersey Redevelopment Authority (NJRA), will develop the NJ Opportunity Zone Marketplace, a real estate and business equity project sharing portal. As envisioned, the Marketplace will be a nationwide access point where qualified investors and eligible New Jersey projects can meet up and begin the development process. Based on best practices from leading community development and economic empowerment philanthropies, this portal will allow projects from New Jersey’s 75 Opportunity Zone municipalities to market their investment opportunities nationwide. The Marketplace is expected to launch in summer 2019.
The NJEDA, DCA, and NJRA will also partner to launch the New Jersey Opportunity Zone Challenge, a competitive funding program which will be designed to leverage community knowledge, skills, and abilities. Its goal is to boost local community-based capacity in financial and technical planning. The funding will help selected entities write plans to identify their specific needs, leverage local resources, and advance projects through the development process. A Request for Proposals is expected to be issued by the NJEDA in the spring.
“Opportunity Zones are designed to attract investments to some of our most underserved communities to spur economic growth and job opportunities in all 21 counties,” said Lieutenant Governor Sheila Y. Oliver, who also serves as Commissioner of the Department of Community Affairs. “We are optimistic that the partnerships we are building today between stakeholders and municipalities will provide the competitive edge needed to reach a broader audience so development projects succeed at every stage – from concept to completion.”
NJEDA CEO Tim Sullivan moderated a panel focused on the potential for the State’s innovation economy to benefit from redevelopment in opportunity zones, including unique, revitalized facilities for shared workspaces, small businesses, and entrepreneurs. The panel featured Carl E. Van Horn, Ph.D., Distinguished Professor of Public Policy, Director, John J. Heldrich Center for Workforce Development; Aisha Glover, President & CEO Newark Alliance; Christopher Paladino, President DEVCO; and Mike Meyer, Hugo Neu Corporation.
“Governor Murphy and his entire administration are committed to making New Jersey the premier destination for Opportunity Zone investments that can catalyze inclusive, sustainable economic development,” said Sullivan.
“The Opportunity Zone Challenge will provide mayors and local leaders with vital resources to advance their unique visions for the transformative investments they would like to see in their own communities.”
Choose New Jersey’s Opportunity Zone Summit was supported by PSE&G, New Jersey Resources, Hackensack Meridian Health, and New Jersey Business Magazine.
“The lively discussions among experts from the real estate, academic, economic development, and investment communities we saw throughout the day are indicative of New Jersey’s collective determination to maximize the potential for returning these long-neglected pockets of our cities to economic productivity,” said Lozano. “New Jersey’s drive to showcase its Opportunity Zones enhances Choose New Jersey’s ability to appeal to investors in both the national and international arenas.”
To read Governor Murphy’s full economic plan, please visit: https://nj.gov/economicplan
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The New Jersey Economic Development Authority's next public Board Meeting will be held on Tuesday, March 12, 2019 at 10 a.m. at the EDA offices at 36 West State Street, Trenton. A copy of the proposed agenda can be found prior to the meeting at www.njeda.gov/Board. Following the Board Meeting, minutes and the full agenda will also be available at www.njeda.gov/Board.
Due to inclement weather, all NJEDA offices will open at 10:30 AM on Monday, March 4, 2019. Please note, DLRC will be held at 10:00 AM via conference call.