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Congress Poised to Increase Regional Innovation Funding According to Jason Rittenberg, “Both the House and Senate are beginning the appropriations process for FY 2019 this month, and early indicators suggest that EDA’s Regional Innovation Strategies program could see an increase over its $21 million for FY 2018. In the House, the relevant subcommittee under Chairman John Culberson (R-TX) and Ranking Member Jose Serrano (D-NY), advanced a bill to fund the program at $21 million – the highest level ever approved by the committee.

EDA Board Action Advances Murphy Administration’s Vision for State’s Innovation Economy “A successful innovation economy requires strong public-private partnerships and a focus on talent, capital, and real estate,” said EDA Chief Executive Officer Tim Sullivan. “Through today’s actions, the EDA is helping to advance this vision to reclaim New Jersey’s leadership in innovation.” Announced by Governor Murphy in March, “The Hub” represents the opportunity for New Jersey to create incubator and research space for next-generation companies and academic research facilities and attract corporate entrepreneurial tenants. This strategy will support a live/work/play environment with proximity to existing corporate, medical, and academic research activity as well as housing, retail and public transportation assets.

Latest New Jersey Founders & Funders Event Introduces Two Dozen Startups to Potential Investors Entrepreneurs from two dozen emerging technology and life sciences companies received personalized feedback on their pitches and products from potential investors as the New Jersey Economic Development Authority (EDA) hosted its latest New Jersey Founders & Funders event. The afternoon-long event connected the entrepreneurs with angel and venture capital investors in 10-minute, one-on-one, “speed dating” sessions to discuss strategy, business models and funding opportunities. Since 2014, executives from more than 250 startup companies have participated in New Jersey Founders & Funders events.

NJIT Student’s Business Venture Going Swimmingly When Mark Quiles, a Martin Tuchman School of Management finance and marketing major, graduates from NJIT this December, he will continue full time on an entrepreneurial path that has already won him accolades. In 2016, Quiles launched League of Lifeguards, a company dedicated to improving water safety by recruiting and certifying lifeguards and matching them with jobs at pools, parties and other places and events involving swimming. He says League of Lifeguards has been able to protect more than 10,000 lives to date. This achievement, coupled with the company’s concept, recently earned Quiles second place and a $1,000 cash prize in the UPitchNJ 2018 Business Model Competition, hosted at Montclair State University.

SBA Seeking Grant Applications for Federal and State Technology (FAST) Partnership Program The U.S. Small Business Administration, under its Federal and State Technology (FAST) Partnership Program, is soliciting grant applications from several New Jersey economic agencies, partners and other sources to help boost the development of technology from small businesses throughout the state. According to SBA New Jersey District Director Al Titone, the agency’s goal is to increase the number of Small Business Innovation Research (SBIR)/Small Business Technology Transfer (STTR) awards to small businesses through technical assistance and mentoring, especially among women, socially/economically disadvantaged individuals, and small businesses in underrepresented areas.

Vocational Schools to Share $3M to Partner with Businesses Seven school districts will share $3 million in grants to bolster partnerships between business and county vocational-technical schools, the New Jersey Department of Education (DOE) announced May 8. The $3 million is part of the County Vocational School District Partnership Grant Program funded by the state. It supports county vocational-technical school districts that partner with business and industry, comprehensive K-12 school districts, and post-secondary institutions to expand high school students’ access and participation in career and technical education (CTE) programs.

S2S Newark Technology Center Opens Newark Public Schools, the city of Newark and nonprofit Students 2 Science opened the S2S Newark Technology Center on May 7 with a mission of educating fifth- to 12th-grade students in science, technology, engineering and mathematics. The center features a $4 million commercial-grade laboratory and instrumentation, and will partner with corporations to provide scientists and mentors for students.

Strong Action is Needed to Preserve the Competitiveness of America’s Life-science Industries Living standards in the United States increasingly depend on the competitiveness of industries that compete internationally, particularly those that succeed by producing new innovations. The life-science sector, which includes pharmaceuticals, biotechnology, and medical devices, is one of those industries. It is also an American success story: Our country captures more than 40 percent of the world’s major patents in both pharmaceuticals and medical devices.


Upcoming Events

Innovative Etail Summit

When: Monday, May 21, 9 a.m. – 12 p.m.
Where: New Jersey Institute of Technology, 323 Dr. Martin Luther King Jr. Blvd., Newark

When: Friday, June 8, 7:30 a.m. – 9:30 a.m.
Where: The Westin Princeton at Forrestal Village, 201 Village Blvd., Princeton

When: June 9 – 10Where: Hunterdon Central Regional High School, 84 New Jersey 31, Flemington

The Internet of Things – Transforming Your Business
When: Friday, June 15, 8:30 a.m. – 1:30 p.m.
Where: Newark Liberty International Airport Marriott, Newark Liberty International Airport, 1 Hotel Road, Newark

When: June 26 – 28Where: Hyatt Regency Jersey City on the Hudson, 2 Exchange Place, Jersey City