Newark, NJ - The New Jersey Innovation Institute (NJII), an NJIT corporation that applies the intellectual and technological resources of the state’s science and technology university to challenges identified by industry partners, hosted 60 companies and public officials at the NJ MarketShift Design Forum 2.0 on Friday, June 12, 2015 at the Forsgate Country Club. Attendees gave the program high ratings overall for innovation management workshops, collaboration strategies, web platform demonstrations and business value.
NJ MarketShift is a government funded program designed to strengthen New Jersey’s aerospace and defense (A&D) industries by providing contractors and manufacturers with the tools and services they need to identify product and market opportunities, collaborate to successfully pursue new business and acquire the training and skills they need to compete effectively. Several Design Teams formed at an event held at NJIT earlier this year reported significant progress in mapping out ways to collaborate in order to compete more effectively for A&D projects.
According to Tim Franklin, principal investigator for the NJ MarketShift program, “This process of strategic collaboration is exactly how industry clusters form. Participants connect with a mix of business and state policy leaders, share market intelligence and form teams to compete more effectively for applications thereby strengthening their supply chain. In fact, a study conducted by the Small Business Administration has shown that companies that participate in an industry cluster earn twice the revenue as those that don’t and create four times as many jobs. It’s gratifying to those of us who work on the NJ MarketShift program to see the beginnings of cluster formation.”
In addition to the reports from the NJ MarketShift Design Teams, participants engaged in a workshop to learn how world famous Fraunhofer Innovation strategies could help them find new applications for their products in adjacent market segments. The NJ MarketShift.com web platform was also introduced at the event.
NJ MarketShift Design Forum 3.0 is scheduled to be held at a variety of locations throughout New Jersey in early September 2015.
According to Tim Franklin, principal investigator for the NJ MarketShift program, “This process of strategic collaboration is exactly how industry clusters form. Participants connect with a mix of business and state policy leaders, share market intelligence and form teams to compete more effectively for applications thereby strengthening their supply chain. In fact, a study conducted by the Small Business Administration has shown that companies that participate in an industry cluster earn twice the revenue as those that don’t and create four times as many jobs. It’s gratifying to those of us who work on the NJ MarketShift program to see the beginnings of cluster formation.”
In addition to the reports from the NJ MarketShift Design Teams, participants engaged in a workshop to learn how world famous Fraunhofer Innovation strategies could help them find new applications for their products in adjacent market segments. The NJ MarketShift.com web platform was also introduced at the event.
NJ MarketShift Design Forum 3.0 is scheduled to be held at a variety of locations throughout New Jersey in early September 2015.
