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Research universities present to NJ Council on Innovation and PFA

2/23/2015

1 Comment

 
Trenton, NJ - New Jersey's historic legacy of innovation and invention has resulted in an economy with a national reputation for spurring numerous advanced technology industries. Last week, the New Jersey Business and Industry Association (NJBIA) hosted the most recent New Jersey Council on Innovation meeting as part of its ongoing commitment to innovation. During the meeting three of the state's research universities presented their recent work to the New Jersey Council on Innovation.
The New Jersey Institute of Technology (NJIT), Rowan University and Rutgers University showcased their research and partnerships with the business community.

·         NJIT's Dr. Donald Sebastian and Dr. Tim Franklin gave an update on their ongoing business partnership and the newly formed New Jersey Innovation Institute (NJII), which they are President and Vice President of, respectively.
·         Rowan University's vice president for research, Dr. Shreek Mandayam shared their plans for their new virtual reality laboratory at the South Jersey Tech Park and the world's first ten-sided CAVE.
·         Rutgers University's director of the Center for Integrative Proteomics Research and director of the RCSB Protein Data Bank, Dr. Stephen K. Burley presented on their new biomedical collaborative program at the Institute for Quantitative Biomedicine.

"It was great to see our leading universities partnering with the business community," said Melanie Willoughby, Senior Vice President of NJBIA. "Nothing is more important to this effort than developing a strong innovation ecosystem – an environment in which business, academia and government work together to develop new ideas into practical products and services and then bring them to market."

The Council's meeting was part of ongoing discussion to emphasize the importance of aligning businesses and academic institutions to grow New Jersey’s economy, attract more federal funds, and bring innovative products and ideas to market.

Secretary Rochelle Hendricks, head of the Office Secretary of Higher Education, Council member and part of the New Jersey Partnership for Action, opened the meeting and was extremely impressed by the presentations. She discussed how an innovation ecosystem will help build new industries, attract successful high-tech companies and increase both public and private investment in research and development.

Lauren Moore, executive director of the Business Action Center, New Jersey's "one-stop shop" for the business community, and Michael Chrobak, chief economic development officer of Choose New Jersey, the state's privately funded marketing and business attraction organization, were also in attendance having similar sentiments. Both mentioned how these universities are model engines of economic development, supporting  starts-up, spin-offs and accelerators.

Click below to check out the NJIT, Rowan and Rutgers University power points:
1 Comment
Carlos Abad link
2/26/2015 02:51:52 am

In one way I am happy to see our Universities coming together with business to display their accomplishments.

However... here comes Debbi Downer...

My concern starts with the first paragraph. It is true that New Jersey use to be a leader in innovation... past tense.

Pharma and Telco's have been leaving the state in droves. Many of these companies have moved to Boston, Silicon and other innovation hubs which also happen to have high taxes. What these places have that we lack is a vibrant entrepreneurial community.

If you look at the websites of Choose New Jersey, New Jersey Partnership for Action or New Jersey Business Action Center you will see the words retain or attract. They never speak about growing great companies. They fail to realize that innovation hubs are also startup hubs.

Startups are the ones that take the innovations and turn them into businesses much faster than large corporations can. Sometimes large institutions can use their financial muscle to turn ideas into strong businesses but small businesses consistently produce more jobs than their larger counterparts. They are and have been the United States secret sauce.

New Jersey had a great run but if it continues to ignore startups and entrepreneurs it will continue to discuss great achievements in the past tense.

LaunchNJ will continue to focus on entrepreneurs and startups regardless of what our government groups do. However, it would be nice if they became partners in our mission.

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