Trenton, NJ - According to ROI-NJ, "Gov. Phil Murphy campaigned on the idea of recreating and reinvigorating an “innovation” economy in the state — an initiative he has pushed throughout his six years in office. The effort appears to be paying off. This week, PitchBook ranked New Jersey third in the country for venture capital investment in the first half of 2024 — another milestone climb in VC investment that had dropped dramatically before he took office."
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Cedar Knolls, NJ - According to ROI-NJ, "The New Jersey Manufacturing Extension Program is hitting the road with its new, state-of-the-art Mobile Training Center made possible with funding from the New Jersey Business Action Center. This custom-built RV, designed within a 2023 Winnebago WFJ38S, has recently arrived at the Cedar Knolls training center and embarked on its tour across New Jersey. This innovative Mobile Training Center is set to revolutionize access to advanced manufacturing training, bringing specialized resources and technology directly to various manufacturing operations, schools and community centers throughout all 21 counties in the Garden State."
New Brunswick, NJ - According to Anna M. Dulencin and Itzhak Yanovitzky, "Scientists and non-scientists alike have been surprised by the pace at which artificial intelligence (AI) is penetrating all aspects of life and society. Interest in the potential applications of AI and their associated benefits and threats has too peaked rapidly, particularly after the introduction of ChatGPT in November 2022, and is increasingly dominating public and policy discourse (Fig. 1, above) and preoccupying scientists across a multitude of disciplines and fields. Governments worldwide are struggling to keep up with the speed of AI innovations and urgent calls for regulatory actions."
New Research Shows Alarming Drop in Neurology Innovation Due To IRA’s Small Molecule ‘Pill Penalty’8/19/2024 Washington DC - During an event on Capitol Hill this week, California Rep. Scott Peters highlighted a graphic that clearly illustrates the distorted impact the Inflation Reduction Act (IRA) has levied on small molecule drugs and biologics. Peters explained the IRA currently allows nine years for small molecule drugs to earn market exclusivity before government price setting takes effect. Biologics, meanwhile, are granted 13 years.
Hoboken, NJ - Green Room Communications, a healthcare communications agency, and Stevens Institute of Technology have announced a partnership aimed at advancing understanding and communication of artificial intelligence (AI) within the healthcare sector. The collaboration leverages Green Room’s expertise in healthcare communications and Stevens Institute’s cutting-edge research capabilities and AI expertise, in particular in partnership with the Stevens Institute of Artificial Intelligence (SIAI). Together, they will explore how AI is revolutionizing drug discovery, clinical trials, and healthcare delivery, and how these innovations are reshaping communication strategies within the biopharma industry.
Columbus, OH - According to Michele Hujber, "In a recent State of the Science address, National Academy of Sciences President Marcia McNutt called attention to what she sees as an alarming trend: the federal contribution to basic research is stagnating while industry funding is rising. The federal share of U.S. spending on basic research, she said, was down from about 60% in 2011 to 40% in 2021. The fall is mostly the result of a sharp increase in basic research funding from industry (see this SSTI article and this National Science Board report for more details on this topic)."
Columbus, OH - According to Laura Lacy Graham, "This year’s legislative sessions saw a handful of governors and lawmakers proposing noteworthy reforms or other changes to their states’ institutions of higher education—from system overhauls to the expansion of tuition-free community college programs—all in efforts to align their state’s education investments with current and future workforce needs, as well as address future costs under tightening budgets."
Columbus, OH - According to Casey Nemecek, "Balancing innovation and equity is a perennial challenge in economic development. Neil Lee’s newest book, Innovation for the Masses: How to Share the Benefits of the High-Tech Economy, tackles this issue head-on, arguing that innovation and equity are not mutually exclusive but can—and should—be pursued in tandem. For our readers, this may seem an obvious point, but innovation’s track record suggests otherwise. Lee’s thorough examination provides valuable insights into how to achieve this equilibrium."
Gloucester, NJ - Following a competitive national search, Rowan University has hired Matthew Sarkees, Ph.D., as dean of the William G. Rohrer College of Business (RCB), starting Aug. 19. Sarkees, a professor of marketing and chair of Villanova University’s Department of Marketing and Business Law in the Villanova School of Business, brings 30 years of professional experience to the RCB. He is an educator and researcher who has written extensively about pharmaceutical and healthcare marketing issues in the context of strategy and public policy.
Newark, NJ - According to NJBIZ, "The New Jersey Institute of Technology will rename its College of Science and Liberal Arts after receiving the single largest philanthropic gift ever made by an NJIT graduate to the university. The founder and CEO of Princeton-based RiskVal Financial Solutions LLC, Jordan Hu earned his master’s degree in computer science from NJIT in 1989. He’s also a former member of the university’s board of trustees and a 2018 recipient of the college’s Distinguished Alumnus Award."
Trenton, NJ - At the end of July, Governor Phil Murphy signed S3432, with first prime sponsors Senator Mukherji (D, LD32) and Assemblyman Tully (D, LD38), that will establish the Next New Jersey Program for artificial intelligence (AI) investments. The legislation enables the New Jersey Economic Development Authority (EDA) to provide tax credits to eligible AI businesses.
Trenton, NJ - Focus NJ announced the expansion of its online Workforce Development Initiatives and Opportunities Research Page, a public tool which catalogs workforce development training programs throughout the state to connect workers, employers, and training providers. Recent efforts have effectively doubled the size of Focus NJ’s online database and mapping tool, which now contains programmatic and contact information for more than 400 training programs and providers throughout the state.
Washington DC - Research and development(R&D)investment in the biopharmaceutical industry drives the discovery of new drugs to address unmet medical needs and improve patient outcomes. Conventional understanding of the magnitude, intensity and productivity of R&D investment in the biopharmaceutical ecosystem is predominantly based on survey data from large, publicly listed biopharmaceutical companies (see Related links). Such measures provide an incomplete picture of the funding landscape because they ignore R&D investments made by smaller public commercial companies, development-stage public companies that have no commercial products and private companies, all of which have become increasingly important to the drug development ecosystem.
Trenton, NJ - The New Jersey STEM Strategic Advisory Board (NJSSAB), part of the New Jersey STEM Pathways Network, has announced the recipients of the 2024 Innovation Fund grants. This year, NJSSAB experienced a substantial increase in Innovation Fund grant applications, nearly 50 in total, reflecting the growing interest and commitment to advancing STEM (“Science, Technology, Engineering and Mathematics”) education across the state. With a record number of proposals received after last year’s inaugural year of the grant, NJSSAB developed a strategic approach to allocate resources effectively, aiming to fully fund as many deserving projects as possible.
Trenton, NJ - The State of New Jersey has long been considered the historical epicenter in the development of technology and innovation. The presence of the iconic Bell Laboratories (‘Bell Labs’) in our state supports the claim that New Jersey has been the ‘Innovation State’ in our nation for almost a century. In addition, some of the most respected academic institutions in the world reside here, including ICUNJ institutions Princeton University, Stevens Institute of Technology, and others that have vibrant and comprehensive programs focusing on research, innovation and S.T.E.M. based curricula.
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