Where: The Campus Center Atrium at NJIT
Who: NJIT President Joel Bloom, Newark Mayor Ras Baraka, and Marc Sheridan, Managing Director of J.P. Morgan Private Bank, will deliver opening remarks. NJII President Donald Sebastian will moderate a panel on clusters and innovation networks composed of business development and health care leaders, including Otis Rolley, president and CEO of the Newark Community Economic Development Corporation (NCEDC), John Brennan, CEO of Newark Beth Israel Medical Center, and Adam Turinas, CEO of Practice Unite, a Newark-based health care IT company.
Why: The New Jersey Innovation Institute, an NJIT corporation, is one of the inaugural grant recipients in the JPMorgan Chase & Co. Small Business Forward initiative, a five-year, $30 million grant program designed to boost small business support networks that help growing enterprises in specific industries. The Small Business Forward program connects entrepreneurs with critical resources to help their businesses grow, create jobs, and strengthen communities.
Funding from JP Morgan Chase of $1.45M over five years will allow NJII to grow Newark’s health IT cluster and extend the services of NJIT’s Enterprise Development Center (EDC) and the capabilities of the new NJII Healthcare Delivery Systems iLab by piloting a new initiative, the Health IT Entrepreneurial Connection Program. The program targets growth-stage Health IT entrepreneurs seeking to accelerate the commercialization of their innovative products and services. NJII’s objective is to help these companies achieve 20 percent or more annual revenue growth. Health IT cluster-focused networking efforts, already underway, are linking the targeted companies to additional potential customers, strategic partners and suppliers, and facilities, allowing them to leverage their capabilities, strengthen their product pipeline, and accelerate their growth.
For companies: Businesses involved in the health care IT sector that would like to attend the summit should contact David Goldberg, Vice President of Global Philanthropy at JPMorgan Chase, at David.A.Goldberg@jpmchase.com to register.
For the media: JPMorgan Chase contact Erich Timmerman can be reached at firstname.lastname@example.org or 212.622.4080
About JPMorgan Chase & Co.
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.6 trillion and operations worldwide. The firm is a leader in investment banking, financial services for consumers and small business, commercial banking, financial transaction processing, and asset management. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world’s most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.
One of the nation’s leading public technological universities, New Jersey Institute of Technology (NJIT) is a top-tier research university that prepares students to become leaders in the technology-dependent economy of the 21st century. NJIT’s multidisciplinary curriculum and computing-intensive approach to education provide technological proficiency, business acumen and leadership skills. With an enrollment of more than 10,000 graduate and undergraduate students, NJIT offers small-campus intimacy with the resources of a major public research university. NJIT is a global leader in such fields as solar research, nanotechnology, resilient design, tissue engineering and cyber-security, in addition to others. NJIT ranks fifth among U.S. polytechnic universities in research expenditures, topping $110 million, and is among the top 1 percent of public colleges and universities in return on educational investment, according to Payscale.com.