Meet 1:1 with NIH and NSF SBIR/STTR representatives

TRENTON (September 28, 2016) – Early-stage technology and biotechnology companies seeking to learn about federal research and development (R&D) funding opportunities to  advance innovative technologies to the commercialization stage are encouraged to attend a New Jersey Small Business Development Centers (NJSBDC) seminar on Friday, September 30. The program will be held at the New Jersey Economic Development Authority’s (EDA) Commercialization Center for Innovative Technologies (CCIT) in North Brunswick.

During the morning seminar,  attendees will hear about Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs from representatives with the National Cancer Institute (NCI) and the National Institute of Allergy and Infectious Diseases (NIAiD), both of which fall within the National Institutes of Health, and the National Science Foundation (NSF). After lunch, participants will have the opportunity to meet one-on-one with representatives from each of the agencies.

Schedule speakers include:

• Todd Haim, Ph.D., Program Director, NCI SBIR Development Center
• Natalia Kruchinin, Ph.D., SBIR/STTR Program Coordinator, NIAID
• Michael Minnicozzi, Ph.D., Program Officer, NIAID
• Jesus Soriano, Ph.D., Program Director, NSF Smart Health and Biomedical Technologies
• Randy Harmon, NJSBDC Technology Commercialization Consultant
• Anthony Faugno, Certified Public Accountant, Partner, EisnerAmper
• Vincent Smeraglia, Executive Director, Rutgers Office of Research Commercialization

CCIT Manager Lenzie Harcum noted that the NIH and NSF/SBIR are two of the eleven federal agencies obligated to expend approximately three percent of their annual extramural R&D budget to support entrepreneurs and small businesses undertaking research. This translates to approximately $2.5 billion in competitive grants available annually to fund small businesses through this program.

Companies wishing to meet 1-on-1 with program participants should email rgharmon@njsbdc.com and include a one-page overview of the technology, highlighting the specific objectives planned to accomplish with SBIR funding.

Visit www.njsbdc.com/sbir to view the agenda or to sign up.

For more information about resources available to support New Jersey’s technology industry, visit https://www.njeda.gov/tls and follow @NJEDATech on Twitter and LinkedIn.
 

TRENTON (September 26, 2016) – When CAD Signs outgrew its leased facility in 2010, the New Jersey Economic Development Authority’s (EDAs) Small Business Fund helped the company acquire an expanded space in Hackensack. As a result, the commercial sign installation, maintenance and fabrication company has quadrupled its workforce and increased its customer base.

The EDA toured CAD Signs today to highlight the company’s growth and showcase the array of State resources available to help small businesses expand in New Jersey.   

Established in 2005, CAD Signs offers a complete suite of assistance – from surveying and permit approvals to manufacturing and installation of signs – for companies of all sizes. The company also maintains signs following installation, including fixing lighting outages, LED retrofitting, and sign cleanup. While the company has a national reach, it has benefited from the abundance of corporations that call New Jersey home.  In the Garden State, CAD Sign’s work can be seen at the GAF World Headquarters in Parsippany and Honeywell’s new campus in Morris Plains.

CAD Signs Founder and Chief Executive Officer Alex Galeano noted that his employee-oriented company routinely receives positive feedback from its clients.

“We service national sign companies, local developers, architects and marketing agencies that are looking for an experienced, established and reliable partner to execute their most important local and regional projects,” Galeano said.  “The additional space and resources we have acquired with EDA’s support have helped us to grow our workforce and customer base and continue to provide the top-notch quality service our clients have come to expect.”

To accommodate its exceptional growth, CAD Signs purchased an additional facility adjacent to its current location in February of this year.

Through the EDA’s Small Business Fund, the company received a $696,000 PNC Bank loan backed by a 50 percent EDA guarantee. The Small Business Fund offers assistance to qualified businesses and not-for-profit organizations through direct loans, participations or guarantees, with a fixed interest rate and an expedited approval process. To be eligible, businesses must be in operation for at least one full year and not-for-profit corporations must be operating for at least three full years. 

“Funding from the Small Business Fund helped CAD Signs not only expand its space, but also more than quadruple its workforce from eight to 40 over the last few years,” EDA CEO Melissa Orsen said. “We encourage all businesses to explore resources available through the State to help them grow.”

Today’s visit continues the EDA’s enhanced efforts to facilitate awareness of the programs it offers to support small and mid-sized businesses and not-for-profits, including a print and digital marketing campaign and social media channels. Centered on the theme “EDA Was Here,” the campaign and new social media presence highlight how organizations like CAD Signs have used the EDA’s financing programs to overcome challenges, meet their needs and grow. Through its small business lending programs, the EDA provided 55 companies with more than $32 million in assistance in 2015.

To learn about EDA resources for small businesses and not-for-profits, visit
https://www.njeda.gov/small_midsize_business and follow @NJEDAWasHere on Twitter and LinkedIn.
 
The EDA is part of the state’s results-driven Partnership for Action. Created by Governor Christie and led by Lt. Governor Guadagno, the Partnership is the hub for all economic development activity in New Jersey and is comprised of four interconnected and highly focused organizational elements: Choose New Jersey, the Business Action Center, the Office of the Secretary of Higher Education and the EDA. 
 
To learn more about opportunities for business growth throughout New Jersey, visit the state’s business portal at www.NewJerseyBusiness.gov or call the Business Action Center at (866) 534-7789.
 

TRENTON (September 26, 2016) – When CAD Signs outgrew its leased facility in 2010, the New Jersey Economic Development Authority’s (EDAs) Small Business Fund helped the company acquire an expanded space in Hackensack. As a result, the commercial sign installation, maintenance and fabrication company has quadrupled its workforce and increased its customer base.

The EDA toured CAD Signs today to highlight the company’s growth and showcase the array of State resources available to help small businesses expand in New Jersey.   

Established in 2005, CAD Signs offers a complete suite of assistance – from surveying and permit approvals to manufacturing and installation of signs – for companies of all sizes. The company also maintains signs following installation, including fixing lighting outages, LED retrofitting, and sign cleanup. While the company has a national reach, it has benefited from the abundance of corporations that call New Jersey home.  In the Garden State, CAD Sign’s work can be seen at the GAF World Headquarters in Parsippany and Honeywell’s new campus in Morris Plains.

CAD Signs Founder and Chief Executive Officer Alex Galeano noted that his employee-oriented company routinely receives positive feedback from its clients.

“We service national sign companies, local developers, architects and marketing agencies that are looking for an experienced, established and reliable partner to execute their most important local and regional projects,” Galeano said. “The additional space and resources we have acquired with EDA’s support have helped us to grow our workforce and customer base and continue to provide the top-notch quality service our clients have come to expect.”

To accommodate its exceptional growth, CAD Signs purchased an additional facility adjacent to its current location in February of this year.

Through the EDA’s Small Business Fund, the company received a $696,000 PNC Bank loan backed by a 50 percent EDA guarantee. The Small Business Fund offers assistance to qualified businesses and not-for-profit organizations through direct loans, participations or guarantees, with a fixed interest rate and an expedited approval process. To be eligible, businesses must be in operation for at least one full year and not-for-profit corporations must be operating for at least three full years. 

“Funding from the Small Business Fund helped CAD Signs not only expand its space, but also more than quadruple its workforce from eight to 40 over the last few years,” EDA CEO Melissa Orsen said. “We encourage all businesses to explore resources available through the State to help them grow.”

Today’s visit continues the EDA’s enhanced efforts to facilitate awareness of the programs it offers to support small and mid-sized businesses and not-for-profits, including a print and digital marketing campaign and social media channels. Centered on the theme “EDA Was Here,” the campaign and new social media presence highlight how organizations like CAD Signs have used the EDA’s financing programs to overcome challenges, meet their needs and grow. Through its small business lending programs, the EDA provided 55 companies with more than $32 million in assistance in 2015.

To learn about EDA resources for small businesses and not-for-profits, visit
https://www.njeda.gov/small_midsize_business and follow @NJEDAWasHere on Twitter and LinkedIn.
 
The EDA is part of the state’s results-driven Partnership for Action. Created by Governor Christie and led by Lt. Governor Guadagno, the Partnership is the hub for all economic development activity in New Jersey and is comprised of four interconnected and highly focused organizational elements: Choose New Jersey, the Business Action Center, the Office of the Secretary of Higher Education and the EDA. 
 
To learn more about opportunities for business growth throughout New Jersey, visit the state’s business portal at www.NewJerseyBusiness.gov or call the Business Action Center at (866) 534-7789.
 

SunGen Pharma, led by Dr. Isaac Liu, cites CCIT resources as vital tools for his company's growth.
 

TRENTON (September 22, 2016) – A year after becoming a tenant at the New Jersey Economic Development Authority’s (EDA) Commercialization Center for Innovative Technologies (CCIT) in North Brunswick, biopharmaceutical company SunGen Pharmaceuticals LLC will graduate from the life sciences incubator next week and move into a larger facility in Middlesex County.

SunGen, which develops, contract manufactures, and sells pharmaceutical finishing products, specializes in the development of oral, solid, extended-release, and complex injectable therapies. Adding to the list of United States-based generic pharmaceutical companies with which it partners, SunGen signed an agreement with Elite Pharmaceuticals last month to collaborate, to develop and commercialize four generic pharmaceutical products. Two of the generic pharmaceutical products are central nervous system stimulants and the other two are classified as beta blockers.

SunGen Co-Chief Executive Officer and President Isaac Liu told @NJEDATech that his company plans to graduate from its 2,775 square feet of space at CCIT to a 12,000-square-foot facility within the College Road Research Park in Forrestal Village. The company currently employs 18 and expects to expand further in the coming years.

“CCIT proved to be a great environment for networking with other small companies, vendors and industry leaders through its organized events,” Dr. Liu said. “Support from EDA, along with our ability to utilize outside resources, enabled us to conduct two product submission batches with our partners for US Food and Drug Administration submission. These projects could have easily cost three times more if we were not at CCIT.”

Strategically located in the heart of the State’s research corridor between Rutgers and Princeton universities, CCIT not only offers the most wet labs of any incubator in New Jersey, but also provides access to a wide array of resource and networking opportunities essential to the startup community. These include helping to identify funding sources and providing access to small business development resources and administrative support. Tenants can also take advantage of CCIT events such as New Jersey Founders & Funders, which introduces startup companies to angel and venture investors, and Lunch and Learn presentations that bring in industry experts to discuss topics relevant to emerging companies.

Of note, other successful graduates of CCIT include GENEWIZ, Advaxis and Chromocell, which are all thriving in the Garden State and today employ a total of more than 500 people in New Jersey.

“We are glad to have provided SunGen with an environment that nurtured its development and we are excited that it will join the growing list of graduates that have chosen to remain and expand in New Jersey,” EDA Chief Executive Officer Melissa Orsen said.

With SunGen’s expected graduation, approximately 2,400 square feet of lab space and two offices will soon be available at CCIT for emerging life science companies looking to utilize incubation space as they grow. CCIT is one of the more significant incubation facilities in the nation dedicated to life sciences and biotechnology companies. Companies interested in leasing space at CCIT can call Lenzie Harcum at (732) 839-1880 to schedule a tour.

@NJEDATech spoke to Dr. Liu about his company’s experience at CCIT and its plans for the future:

Why did you choose to grow SunGen in New Jersey?
We chose New Jersey because of its business-friendly environment, its location in the pharmaceutical research corridor, and the plethora of talented individuals that the research corridor attracts.

What did you find most useful during your time at CCIT?
In addition to the many networking opportunities, CCIT provided us with strong support, which was extremely helpful for our small business. The friendly staff administered first-class service and maintained a professional and attractive facility.

What’s on the horizon for SunGen?
SunGen looks forward to continuing its growth, discussing potential acquisitions, and seeking additional partnership opportunities. We plan to bring business to New Jersey and look forward to exploring additional EDA resources to help support our expansion.

What advice do you have for entrepreneurs starting out in New Jersey?
Entrepreneurs need to execute strategies quickly since the business landscape is very dynamic. It is also highly important to seek support and partnerships whenever possible while supporting others as well.

For more information about resources available to support New Jersey’s technology industry, visit https://www.njeda.gov/tls and follow @NJEDATech on Twitter and LinkedIn.

A meeting of the Capital City Redevelopment Corporation (CCRC) Board has been scheduled for Wednesday, September 21, 2016 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

Company Expects to Grow Workforce by More Than 50 Percent

 

Under Chief Executive Officer Dr. Guanghui Hu's leadership, Admera Health is dedicated to developing cutting-edge diagnostics that span the continuum of care. He's pictured here (left) with Brady Millican, Admera's Vice President of Business Development. 

TRENTON (September 15, 2016) – As an advanced molecular diagnostic company focused on personalized medicine and non-invasive cancer testing, Middlesex County-based Admera Health is dedicated to developing cutting-edge diagnostics that span the continuum of care.  With support from the New Jersey Economic Development Authority (EDA), the company plans to expand its product portfolio and grow its workforce by over 50 percent.

Admera was formed in 2012 as a spinout from GENEWIZ, a global leader in research and development genomic services and one of the first graduates of the EDA’s Commercialization Center for Innovative Technologies (CCIT) in North Brunswick. Located in South Plainfield, Admera aims to utilize next generation technology platforms and advanced bioinformatics to redefine disease screening, diagnosis, treatment, monitoring, and management through its innovative, personalized solutions.

Admera currently offers a commercially available 25-gene pharmacogenomics panel that can provide treatment recommendations for over 150 drugs in a number of therapeutic areas, including cardiology, psychology and oncology. These recommendations include what medications should be avoided or administered with caution, dosing information and what medications will provide an expected response based on the patient’s genetic makeup. The biotechnology company is increasing its pharmacogenomics panel to 50 genes, which will broaden the number of associated drugs to 220. Additionally, knowing that a patient’s understanding of his or her care is of the utmost importance, Admera provides doctors with iconographic and color-coded reports, which it says are also easy for the patients to read.  Admera also provides genetic testing for inherited cardiovascular diseases and cancer tumor profiling.

The EDA recently closed on a loan with Admera through the Edison Innovation VC Growth Fund, providing the company with working capital to support its operations. Admera anticipates maintaining its current staff of 51 and creating an additional 30 new jobs in New Jersey over the next two years.

“Admera has always been on the forefront of patient care and, with EDA support, we hope to become the standard of care across the industry,” Admera Chief Executive Officer Dr. Guanghui Hu said.

Created in 2011 to enhance support of early-stage businesses that have attracted funds through venture capital (VC) investors, the Edison Innovation VC Growth Fund helps companies directly finance uses such as hiring key staff, product marketing, and sales. Up to $1 million in subordinated convertible debt financing is available for venture capital-supported technology companies with minimum commercial revenues of $500,000 in the prior 12 months. There is a 1:1 VC match funding requirement.

“The loan to Admera is yet another example of State resources being used to help businesses throughout their lifecycle,” EDA CEO Melissa Orsen said. “Biotechnology startups like Admera have a positive impact, not just in New Jersey, but throughout the nation and around the world.”

Earlier this year, Admera won the 2016 North American Frost & Sullivan Award for Technology Innovation. In bestowing the award, consulting company Frost & Sullivan noted that Admera “… is using its expertise to extend this continuum of care by looking beyond conventional diagnostics methodologies to provide a series of diagnostic tests that give patients and physicians the relevant resources and information to make more informed treatment decisions.”

@NJEDATech asked Dr. Hu about his company’s experience in New Jersey and its plans for the future:

Why did you choose to grow Admera in New Jersey?
Admera’s sister company, GENEWIZ, is headquartered in New Jersey. GENEWIZ made a strategic decision to locate here to be near biopharmaceutical hotspots. 

What is your company’s biggest success to date?
Admera’s biggest success to date is the development of the most comprehensive pharmacogenomics gene panel commercially available.

What’s on the horizon for Admera?
Beyond expanding its pharmacogenomics panel, Admera is working toward offering a mobile app for physicians and patients to easily access test results, developing a digital health genomic interpretation system, and launching a portfolio of cancer diagnostics that will help physicians make treatment decisions that will improve patient outcomes.
 
The EDA offers a multitude of resources to help technology companies grow and thrive. To learn about these resources, visit https://www.njeda.gov/tls and follow @NJEDATech on Twitter and LinkedIn.

 

Ogg Trading Founder and CEO David Ogg noted that the State's Angel Investor Tax Credit Program helps encourage new investors to support its business. He's pictured here (left) with Scott Clark, Ogg Trading's business development director.  

TRENTON (September 8, 2016) – Touting the positive impact that the State’s Angel Investor Tax Credit Program has already had on startups in the Garden State, the New Jersey Economic Development Authority (EDA) announced the approval of 23 investments between January and July 2016. The investments represent the injection of more than $16.5 million in private capital into New Jersey’s early-stage technology and biotechnology companies, including Jersey City-based Ogg Trading. Through July 31, 2016, more than $142 million in private investment in young technology and biotechnology companies has been supported through the Angel Investor Tax Credit Program since its inception in 2013.

Administered by the EDA in consultation with the New Jersey Division of Taxation, the program offers a 10 percent refundable tax credit against New Jersey corporation business or gross income tax for qualified investments in an emerging technology business with a physical presence in New Jersey and that conducts research, manufacturing, or technology commercialization in the state. The program is available to all eligible taxpayers, including out-of-state investors.

“Ogg Trading has joined the growing list of technology and biotechnology companies realizing that the Angel Investor Tax Credit program has a two-fold benefit,” EDA Chief Executive Officer Melissa Orsen said. “It encourages investment in New Jersey technology companies and provides an added avenue through which these companies can attract investors.”

Ogg Trading is a global, state-of-the-art, electronic trading technology company initially providing trading platforms for large institutional clients, including multinational banks, asset managers, hedge funds and pension funds. The company’s platforms allow its clients to trade international currencies or foreign exchange in an efficient and cost effective manner, in a safe environment. Ogg Trading is partnering with Bloomberg, LP on its first product, LiquiMatch, which is a dark pool, or private forum, for currency trading.

Founded in 2011 by David Ogg, who brings more than a quarter-century worth of industry knowledge to his position as CEO, the company currently employs 12 people in New Jersey.

In addition to participating in the State’s Angel Investor Tax Credit Program, Ogg Trading also took part in the EDA’s New Jersey Founders & Funders event earlier this year. Held at the EDA’s Commercialization Center for Innovative Technologies (CCIT) in North Brunswick, the event 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.

@NJEDATech spoke with Ogg about his company’s experience in New Jersey and its plans for the future:

Why did you choose to grow Ogg Trading in New Jersey?
Ogg Trading chose Jersey City as its headquarters for its attractive real estate rental values, proximity to New York City as well as the significant base of financially-oriented companies, a supportive business environment, a central location for our workforce, and a strong pool of qualified NJ based employees.  

How has the Angel Investor Tax Credit Program helped the company?
New Jersey’s Angel Investor Tax Credit program provides an added incentive and stimulus to encourage new investors to support our business and help provide the necessary capital to fuel our projected growth.  

What is Ogg Trading’s biggest success to date?
Our biggest achievement to date has been to see all of our hard work and long hours come to fruition with the recent launch of our first product, LiquiMatch, an institutional foreign exchange trading platform.

What’s on the horizon for your company?
With additional foreign exchange electronic trading products in our pipeline, we are excited to provide solutions to our institutional clients, scaling our business to be a significant leader in ever-expanding growth of electronic trading on Wall Street.

To learn about the various programs and resources available, visit https://www.njeda.gov/tls and follow @NJEDATech on Twitter and LinkedIn.
 

The New Jersey Economic Development Authority's next public Board Meeting will be held on Friday, September 9, 2016 at 10 a.m. at the Fort Monmouth Economic Revitalization Authority offices, 100 Barton Avenue, Oceanport, NJ. 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.

TRENTON (September 7, 2016) – For 35 years, Bestwork Industries for the Blind, Inc. in Cherry Hill has been providing training and employment opportunities for blind and visually impaired adults, by engaging them in the manufacturing of a variety of products. Bestwork’s customers include the U.S. Military, the General Services Administration, the State of New Jersey and commercial firms.

Founded in 1981 by James Varsaci, a veteran who lost his sight during World War II, Bestwork, a 501(c)(3) not-for-profit  corporation with 82 employees, manufactures military clothing, safety clothing, vinyl tool bags, laundry nets, and polishing and wiping cloths. Bestwork also provides non-sterile examination gloves, adult briefs and industrial paper wipes to its customers.

When Bestwork looked to expand its presence within South Jersey, it turned to the New Jersey Economic Development Authority (EDA)’s Small Business Fund for support. Through the Fund, Bestwork, which is now led by President and Chief Executive Officer Belinda Moore, received a TD Bank loan with a 33 percent EDA participation. Bestwork used the funding to purchase its new, larger facility on Olney Avenue in Cherry Hill.  

“At 50,000 square feet, our new location is nearly double the space that we had been using,” Moore said. “We are grateful that the Small Business Fund has enabled us to expand into a larger location, increasing our manufacturing capabilities and reaching a broader customer base.”

To showcase Bestwork’s growth and highlight financing opportunities available to small businesses throughout the Garden State, EDA President and Chief Operating Officer Tim Lizura today visited the company.

“The EDA is committed to helping small businesses and not-for-profit organizations throughout the State,” Lizura said. “Bestwork’s impact on South Jersey’s industry is impressive; they’re not only manufacturing items for the military and other outlets, but also creating job opportunities for individuals within the blind and visually impaired community.”

The Small Business Fund offers assistance to qualified businesses and not-for-organizations through direct loans, participations or guarantees, with a fixed interest rate and an expedited approval process. To be eligible, businesses must be in operation for at least one full year and not-for-profit corporations must be operating for at least three full years. 

Today’s visit complements the EDA’s enhanced efforts to facilitate awareness of the programs it offers to support small and mid-sized businesses and not-for-profits, including a print and digital marketing campaign and social media channels. Centered on the theme “EDA Was Here,” the campaign and new social media presence highlight how organizations like Bestwork have used the EDA’s financing programs to overcome challenges, meet their needs and grow. Through its small business lending programs, the EDA provided 55 companies with more than $32 million in assistance in 2015.

To learn about EDA resources for small businesses and not-for-profits, visit
https://www.njeda.gov/small_midsize_business and follow @NJEDAWasHere on Twitter and LinkedIn.
 
The EDA is part of the state’s results-driven Partnership for Action. Created by Governor Christie and led by Lt. Governor Guadagno, the Partnership is the hub for all economic development activity in New Jersey and is comprised of four interconnected and highly focused organizational elements: Choose New Jersey, the Business Action Center, the Office of the Secretary of Higher Education and the EDA. 
 
To learn more about opportunities for business growth throughout New Jersey, visit the state’s business portal at www.NewJerseyBusiness.gov or call the Business Action Center at (866) 534-7789.
 

EDA interns routinely interact with Technology and Life Sciences staff to get in-depth understanding of New Jersey's dynamic technology sector. (From left: Venture Associate Alec Tripodi, Venture Analyst Ed Atiyeh, Interns Pawel Tomczyk and Madison Uram, and Venture Analyst Madhavi Bhatia)

TRENTON (August 31, 2016) – Internships at the New Jersey Economic Development Authority (EDA) this summer exposed two college juniors to the State’s robust technology ecosystem and gave them an in-depth understanding of how EDA programs encourage entrepreneurs to grow their companies within the Garden State.

Summer internships offer college students multi-faceted, integrated learning opportunities designed to prepare them for a fast-paced work environment. This includes interaction with peer mentors, networking events, and workshops, which focused on a range of topics covering the New Jersey Angel Investor Tax Credit Program, the State’s Technology Business Tax Certificate Transfer (NOL) Program, the Edison Innovation Fund, and venture fund investments. The technology-focused internships are based at the EDA’s Commercialization Center for Innovative Technologies (CCIT) in North Brunswick.

“New Jersey entrepreneurs often cite the State’s deep pool of talented individuals as one of the main reasons to choose to grow their companies in the State,” EDA Chief Executive Offer Melissa Orsen said. “The internship enables students to see the wide variety of potential career opportunities available to them within New Jersey after graduation.”

Interns Pawel Tomczyk and Madison Uram both found this summer’s experience beneficial.

“The EDA offers a plethora of amazing programs to help grow New Jersey’s economy,” Tomczyk said. “I saw this internship as a way to combine my passion for finance and the markets with my love for community service. I enjoyed working directly with the businesses that were applying to the EDA’s program because it provided me with a deep understanding of how biotechnology and technology companies operate.”

Tomczyk is majoring in economics and mathematics at Rutgers University in New Brunswick. During his freshman year, he was the finance captain of the Rutgers Dance Marathon, and the following year he was the marathon’s Assistant Director of Technology. Tomczyk previously interned at Tele-Data Solutions in Union. He graduated from Linden High School.

Madison Uram attends Lehigh University’s College of Business and Economics, where she majors in finance and chemistry.  Uram made the Dean’s List for the past three semesters. During her sophomore year, she participated in externships at three major financial firms – EY (formerly Ernst & Young), Deloitte, and Barclays. She graduated from Hamilton High West, where she was the treasurer of the Science National Honors Society and vice president of the school’s National Honor Society.

“My recommendation would be to ask as many questions as possible because everyone around you wants to help you reach your career goals,” Uram said when asked what advice she would give students considering applying for the EDA internship. “CCIT houses a diverse group of people coming from many different backgrounds. I was able to learn something from each person I spoke to throughout the summer, and putting each and every piece together has really allowed me to grow.”

A 2015 summer internship led to full-time employment for EDA Venture Associate Alec Tripodi. Tripodi joined the EDA full time shortly after graduating from Rutgers University this past May with a degree in finance and a minor in economics. As a venture associate, he works closely with EDA venture officers in business development activities and portfolio management. Tripodi is also involved in reviewing technology-led incentives, due diligence activities for Edison loans, and providing entrepreneurial support to the technology and life sciences community. Prior to joining the EDA full time, Tripodi also interned with Automotive Resources International (ARI) and Billtrust.

@NJEDATech spoke with Tripodi about his internship and his experience with the EDA:

Why did you choose to apply to the internship at the EDA?
I chose to apply to the internship at the EDA because I was intrigued by its mission to grow and retain jobs and stimulate the NJ economy. The opportunity to support entrepreneurs interested me as well. I consider myself to be a “techie,” so working with technology and biotechnology startups was an exciting opportunity to me. Further, being a New Jersey resident for my entire life and being a Rutgers student at the time, I am rooted in New Jersey and excited by the amazing things happening in our state.

What did you find most beneficial about your internship?
The internship allowed me to exercise some of the skills and knowledge that I gained in the classroom. My experience at the EDA also gave me real-world understanding in working with a team of diverse and talented individuals, meeting deadlines, and sharpening both my soft and technical skills. Plus, my manager Kamran Hashmi was a great mentor and helped me develop my professional skills along the way.

What would you recommend for students thinking about applying to the EDA Internship program?
I would absolutely recommend that they apply! If you’re looking for a challenging and fulfilling work experience the EDA is a great place to be. I would encourage students who are detail-oriented, team players who can manage multiple projects at once to consider an internship at the EDA. We work hard and have fun!