COMMERCIALIZATION CENTER FOR INNOVATIVE TECHNOLOGIES RECEIVES INTERNATIONAL HONOR
Trenton, N.J. (January 22, 2008) – The National Business Incubation Association (NBIA) has awarded the Soft Landings International Incubator designation to the Commercialization Center for Innovative Technologies (CCIT), part of the New Jersey Economic Development Authority’s (EDA’s) Technology Centre of New Jersey in North Brunswick. CCIT focuses on life sciences and biotechnology startups and is the first of New Jersey’s incubators to receive this designation, which recognizes incubators that have demonstrated success in helping non-domestic firms enter the U.S. market.
“NBIA has helped ensure the success of many companies around the globe, and it’s an honor for CCIT to receive the Soft Landings designation,” said EDA Chief Executive Officer Caren Franzini. “Governor Corzine’s Economic Growth Strategy has made international business development a priority, and it’s great news for the state that we have been able to successfully attract foreign startup biotechnology businesses and help them grow and invest in New Jersey.”
The Soft Landings designation recognizes an incubator’s focus on welcoming non-domestic firms into its domestic market with translation services, help cutting through governmental red tape, access to capital, domestic market research and other programs, said Randy Morris, NBIA director of membership.
A panel of experienced NBIA-member incubator managers evaluated the Soft Landings applications. According to Morris, the judges were impressed with CCIT’s unique support for non-domestic firms.
“CCIT accentuates its standard incubation services with assistance tailored specifically to non-domestic firms, including language and international business training through Kean University, and a ‘global bioscience incubator/science park network,’ which provides businesses with access to experts around the globe,” Morris said.
CCIT originally opened in 2002 with 20,000 square feet and was expanded in 2005 to 50,000 square feet with the addition of 10 wet labs, business accelerator office space and flexible conference facilities. Businesses located in CCIT have access to common services such as conference rooms, a media room, reception, shipping and receiving areas, video conferencing, and an autoclave.
A Strategic Partner Advantage Network of professionals also makes available discounted services to tenant companies covering such essential areas as accounting, clinical development and regulatory compliance, human resources, insurance, law and marketing. Business development and collaborative opportunities are provided through a “corporate technology transfer” initiative unique to CCIT and working relationships with over a dozen global bioscience research parks and incubators.
There are currently 20 companies that have space at CCIT, which is part of the larger Technology Centre of New Jersey and located within the Greater New Brunswick Edison Innovation Zone along the Route 1 R&D corridor between Rutgers and Princeton universities. Prominent CCIT tenants include Chromocell Corporation, MaxyBio Corporation, Rosetta Genomics and Orthocon.
NBIA’s Soft Landings designations are effective for two years; programs must reapply biennially for continuing designation. There is no cap on the number of designations available in a given year or over time. CCIT is one of only 10 business incubation programs from around the world that have earned the designation since NBIA began the program in 2005. During the latest round, the panel awarded the Soft Landings designation to CCIT for the first time while ATP Innovations of Sydney, Australia, and Wallonia Space Logistics of Liege, Belgium, earned their first renewal of the designation.
NBIA is the world’s leading organization advancing business incubation and entrepreneurship. For more information about the NBIA Soft Landings program, visit http://www.nbia.org/resource center/soft landings/index.php.
The EDA is an independent, self-sustaining state financing and development agency that works to promote economic growth, job creation and the revitalization of New Jersey’s communities with financing assistance, technical support and entrepreneurial training, and real estate development activities.
To learn more about opportunities for business growth throughout New Jersey, visit the state’s business portal at www.NewJerseyBusiness.gov.