Washington D.C. - All states, but especially the laggards, would benefit from policies to attract more industry research funding, particularly as such funding appears to generate technology-based economic activity. Industry funding of university research is an important component of U.S. academic research and industrial innovation, especially as federal funding for universities continues to decline and companies cut back on basic, intramural research. However, U.S. states vary dramatically on the extent to which their research universities attract industry support. In part, this is because of policy and administrative choices states and universities make. All states, but especially the laggards, would benefit from policies to attract more industry research funding, particularly as such funding appears to generate technology-based economic activity at the state level.
Trenton, NJ - For New Jersey Tech Weekly’s end-of-year series in 2017, we asked company officials and other members of the tech ecosystem in New Jersey to craft a letter to the incoming governor, Phil Murphy, telling him about important business or social issues they are encountering, and giving him ideas on how the state help could solve them. This letter is from Mario Casabona, an angel investor who also founded the state’s first tech accelerator, TechLaunch. We are calling on Murphy to make this state a better, more welcoming place for tech and biotech companies, both those that are starting up and those that are growing.
New Brunswick, NJ - Rutgers Cancer Institute of New Jersey and RWJBarnabas Health have named Andrew M. Evens, DO, MSc, FACP as a new oncology leader responsible for the delivery of integrated cancer care across both entities in servicing the region. Dr. Evens, whose clinical expertise is in hematologic malignancies, most recently was the director of the Cancer Center at Tufts Medical Center in Boston.
Trenton, NJ - The New Jersey Business & Industry Association (NJBIA) today urged Governor Christie to sign legislation that would provide an annual $3 million appropriation for the Basic Skills Training program to the NJ Community College Consortium for Workforce and Economic Development (NJCCC). The Legislature passed S-3534 (Cunningham, Bateman)/A-5163 (Lampitt, Vanieri Huttle) yesterday, sending it to the governor’s desk for consideration.
Trenton, NJ - Rider University will offer a major in business analytics in its spring 2018 semester, in response to businesses’ growing interest for experts in data analytics. The university had offered a minor for business analytics as of 2016, but chose to expand the program this year into a full-fledged major, citing a report from McKinsey Global Institute that concluded the United States could have a shortage of analytics experts in 2018.
Trenton, NJ - The state Economic Development Authority on Tuesday approved a half-dozen Grow New Jersey tax incentive awards, including one potentially worth a total of $52.5 million over 10 years. The biggest incentive offering approved Tuesday was for Benjamin Foods LLC, a Hatboro, Pennsylvania-based distributor of food products to restaurants and other food service clients. The company was offered a total of nearly $52.5 million over a 10-year period if it consolidates its three Pennsylvania facilities in Camden, rather than remaining in the Keystone State.
Princeton, NJ - Princeton HealthCare System is now officially part of the University of Pennsylvania Health System, making the combined entity a six-hospital system. Penn Medicine has several affiliations with New Jersey entities, focused on South Jersey, but Princeton is its first acquisition across the border. Princeton, which includes the University Medical Center of Princeton, Princeton House Behavioral Health, Princeton HomeCare and the Princeton Medicine physician network, will all be part of Penn Medicine as part of a deal that was first announced in December 2016.
Trenton, NJ - In the latest U.S. News & World Report online-education rankings, Berkeley College was the top-rated bachelor’s degree program in New Jersey, while Stevens Institute of Technology was the highest-ranked MBA program in the state. Of the 357 schools whose online bachelor’s degree programs were ranked, Berkeley — which has five campuses in New Jersey and three more in New York — came in at No. 125 overall.
Trenton, NJ - There’s a machine-versus-human calculus that’s going on in the world of money management. The logline is that local firms specializing in financial advice are up against large competitors that have constructed battalions of robo-advisers — a high-tech automation tool that has made investment fees very cheap and the process devoid of human error. It may not yet be that more financial advice is provided by machines than humans, but to say the industry is on that path isn’t hyperbole. Investors themselves — particularly those of a younger demographic — have shown they are willing to trust a robot for advice.
Washington D.C. - The growth and intensity of higher education R&D (HERD) expenditures varies considerably across metropolitan areas, a recent SSTI analysis of National Science Foundation data finds. New York ($4.3 billion), Boston ($3.2 billion), and Baltimore ($2.9 billion) had the highest overall levels of HERD expenditures in 2016. In that same year, Ithaca, New York (19.1 percent), State College, Pennsylvania (9.5 percent), and College Station, Texas (9.4 percent) had the highest levels of HERD intensity – measured as the share of HERD expenditures to gross metropolitan product. While overall HERD expenditures increased by nearly $7.5 billion nationwide from 2011 to 2016, more than half of this total (50.6 percent) went to the 10 metro areas with the most HERD expenditures in 2016.
Washington D.C. - Eligible small businesses who have not previously won an SBIR/STTR award from the NIH are able to apply for help through a pilot initiative, the Applicant Assistance Program (AAP). The primary goal of the AAP is to increase participation in the SBIR program by businesses that are owned or controlled by individuals who are traditionally underrepresented in the biomedical sciences. The pilot is aimed at helping small R&D businesses and individuals successfully apply for Phase I SBIR/STTR funding from the National Cancer Institute (NCI), National Institute for Neurological Disorders and Stroke (NINDS), National Heart, Lung and Blood Institute (NHLBI).
Trenton, NJ - BioNJ, the trade association for New Jersey’s life sciences industry, today released “The New Jersey Biopharma Industry: A Prescription for Growth,” a white paper that lays out how the biopharma sector can promote economic growth across New Jersey. The paper offers pragmatic recommendations for growing the industry in the Garden State and for strengthening New Jersey’s competitiveness.
Trenton, NJ - The NJ Economic Development Authority (EDA) has a well-deserved reputation as a major player in the state’s efforts to attract high profile companies. Its incentive packages were crucial in bringing the Philadelphia 76ers practice facility to Camden, and kept companies like Subaru from moving to other states. In fact, EDA is the primary source for the incentives to bring Amazon’s second headquarters to Newark.
Princeton, NJ - Kiplinger has named Princeton University the best value in America, thanks to its generous financial aid, nonexistent student loans and low student debt upon graduation. The New Jersey college beat out North Carolina’s Davidson University for the title. They were followed by Swarthmore College, Harvard University and Duke University.
New Brunswick, NJ - Your recent editorial on physicians’ compensation from biopharmaceutical companies (“Must we twist docs’ arms against influence?”) mischaracterizes and oversimplifies those relationships, while completely failing to recognize their critical importance to patients and to advancing medical innovation. Anyone who attended or listened to the Division of Consumer Affairs’ Oct. 19 hearing on Attorney General Christopher Porrino’s proposed rules regarding industry-prescriber compensation heard a very different assessment of their potential adverse implications.
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