InnovationNew Jersey - News

EDA Announces Opportunity Zone Challenge Program

7/17/2019

From New Jersey Business

The New Jersey Economic Development Authority (EDA) launched the Opportunity Zone Challenge Program, a competitive grant program aimed at supporting community efforts to attract investments in Opportunity Zones. Grants awarded through the program will fund municipal and county-level financial and technical planning around Opportunity Zone economic development.

“New Jersey’s Opportunity Zones have the potential to transform struggling communities that investors have overlooked for years into thriving centers of employment, economic growth, and development,” said Lieutenant Governor Sheila Oliver, who also serves as Commissioner of the Department of Community Affairs (DCA). Read more here.

Cancer Device Created at Rutgers to See if Targeted Chemotherapy is Working

7/16/2019

Rutgers researchers have created a device that can determine whether targeted chemotherapy drugs are working on individual cancer patients. The portable device, which uses artificial intelligence and biosensors, is up to 95.9 percent accurate in counting live cancer cells when they pass through electrodes, according to a study in the journal Microsystems & Nanoengineering. Read more here.

Senator Menendez, Booker Announce $1.6M to Create Model STEM Program

7/15/2019

Washington DC - U.S. Senators Bob Menendez and Cory Booker announced the awarding of $1,684,277 in federal funding from the National Science Foundation (NSF) to Kean University to develop a program aimed to increase the retention and completion rates of students studying computer science and information technology (IT). “In order to compete with the rest of the world, we must ensure STEM education remains a focus of our entire education system,” said Sen. Menendez. “This program will help unlock the potential in more students and make sure they are prepared to enter the workforce. I applaud Kean University’s commitment to STEM education and ensuring that every student, regardless of background, has the tools they need to succeed.”

Telecom’s Role in the New Industrial Revolution

7/15/2019

Trenton, NJ - According to Lisa Goulian, Contributing Writer, "The modern world of telecommunications is experiencing what’s known as the “Fourth Industrial Revolution” (4IR), characterized by advances in robotics, artificial intelligence (AI), quantum computing, biotechnology and the Internet of Things (IoT), among other categories. This merging of the physical, digital and biological worlds is affecting just about every type of industry, causing dramatic changes in production, management and corporate governance."

NJIT to Establish New Institute for Data Science

7/15/2019

Newark, NJ - New Jersey Institute of Technology (NJIT) will establish a new Institute for Data Science, focusing on cutting-edge interdisciplinary research and development in all areas pertinent to digital data. The institute will bring existing research centers in big data, medical informatics and cybersecurity together with new research centers in data analytics and artificial intelligence, cutting across all NJIT colleges and schools, and conduct both basic and applied research.

NJ Angel Investor Expansion Signed into Law

7/15/2019

Trenton, NJ - A new law doubling the tax credit available under the state’s Angel Investor Tax Credit program will make it easier for startups and emerging technology businesses to attract the private investment they need to succeed, and will also boost New Jersey’s growing innovation economy. The legislation, A-5604 (Freiman, Pinkin, Milam, DePhillips, Zwicker, Land, Corrado, Singleton), was signed into law Sunday by Gov. Phil Murphy. The law raises the tax credit percentage from 10% to 20% for qualified investment in a New Jersey emerging technology business. The credit increases to 25% if the business is certified as women or minority owned, or if it is located in a designated Opportunity Zone or low-income community.

NJ Tech Council 2019 Awards Celebration Nomination Form

7/15/2019

New Brunswick, NJ - The Tech Council's 23rd annual Awards Celebration recognizes and celebrates tech and life sciences companies for their accomplishments in leadership, collaboration & innovation. The deadline for nominations is Thursday, August 15. Self nominations are welcome. Our 23rd Awards Celebration will take place on on Thursday, Novemeber 21st in Bridgewater.

DOE announces $24 million in funding for 75+ technology commercialization projects

7/15/2019

Columbus, OH - According to SSTI, "The U.S. Department of Energy (DOE) has announced more than $24 million in funding for 77 projects through its Technology Commercialization Fund (TCF), which will be matched by funds from the private sector. Established by the Energy Policy Act of 2005 as a way to encourage energy innovation, each of the recently awarded TCF projects supports private sector efforts to commercialize technologies developed at DOE laboratories. In turn, these projects help “to maximize the impact of our research investment for the benefit of the entire nation,” DOE Chief Commercialization Officer Conner Prochaska said in a press release. Projects involved company partners in 30 states, the District of Columbia and four other countries. "

Useful Stats: NIH Awards by State, 2009-2018

7/15/2019

Columbus, OH - According to SSTI, "As the largest public funder of biomedical research in the world, NIH awards are of particular importance to the technology-based economic development community. Including new data for FY 2017 and FY 2018, this edition of Useful Stats serves as an update to an August 2017 article highlighting NIH awards by state over the past decade. In FY 2018, NIH awarded a total of $28.3 billion in funds to the 50 states and territories. Of the total amount awarded in 2018, slightly less than two thirds (65.3 percent) went to the top 10 states. This share is slightly lower than in 2017 (65.6 percent), the same as in 2014 (65.3 percent) and slightly higher than in 2009 (66.1 percent)."

How the U.S. Can Regain Its Manufacturing Edge

7/15/2019

Philadelphia, PA - According to the BCG's Justin Rose, "Manufacturing in the U.S. has often been assumed to be in long-term decline, with the competitive advantage moving to low-cost countries such as Mexico and China. However, with advanced technologies likely to automate as much as 60% of factory tasks, in the future low-cost countries may no longer enjoy a competitive advantage, and the U.S. could well regain lost ground. Still, the U.S. needs to be more aggressive in developing and adopting robotic technologies, according to Justin Rose, a partner and managing director in the Boston Consulting Group’s Chicago office. “If we want to remain a manufacturing powerhouse, I truly see this as the only choice. And the U.S. needs to lead here. It’s not enough to just let it happen naturally over time,” says Rose."

What State Regulations are the Biggest 'Pain Points' for Your Business?

7/15/2019

From New Jersey Business

The New Jersey Office of Innovation is looking for feedback on how to improve interactions between state government and the business community. Their brief online survey is your chance to let state officials know which administrative, licensing, permitting or other regulations pain you the most. It is here.

Lozano touts changes after year at Choose New Jersey

7/11/2019

From ROI-NJ

Jose Lozano understands that economic incentive packages are a key element in bringing companies to a new location. He also feels they are not the only one.

As he marked the first anniversary of running Choose New Jersey as its CEO and president in June — a year that saw the state’s incentive programs in the spotlight throughout — Lozano cited one statistic on incentives that he feels few in the state realize.

“Last year alone, Choose was responsible for 45 companies coming into New Jersey, of which 40 did not receive an incentive,” he told ROI-NJ. Read more here.

County College of Morris Awarded $4M to Lead Expansion of Apprenticeship Programs

7/11/2019

From New Jersey Business

County College of Morris (CCM) has been awarded a $4 million grant from the United States Department of Labor (USDOL) to expand apprenticeship programs for advanced manufacturing.

The USDOL’s Scaling Apprenticeship Through Sector-Based Strategies grant program focuses on advancing the development of apprenticeship programs in three areas: advanced manufacturing, information technology and health care. The program supports partnerships among educational institutions and the private and public sectors. These partnerships will create apprenticeship models to close the skills gap by providing key training and job placement opportunities and strengthening pathways into the workforce. Read more here.

NJIT to Establish New Institute for Data Science

7/10/2019

New Jersey Institute of Technology will establish a new Institute for Data Science, focusing on cutting-edge interdisciplinary research and development in all areas pertinent to digital data. The institute at NJIT will bring existing research centers in big data, medical informatics and cybersecurity together with new research centers in data analytics and artificial intelligence, cutting across all NJIT colleges and schools, and conduct both basic and applied research. Read more here.

TrialScope Turns to NOL Program, Venture Fund Investment as it Supports Clinical Trials Worldwide

6/30/2019

Trenton, NJ - A combination of resources from the New Jersey Economic Development Authority (NJEDA), a growth equity investment from three venture capital firms including Edison Partners, and proximity to numerous global pharmaceutical giants has helped Hudson County-based TrialScope support pharmaceutical companies conducting clinical trials around the world.