Issue: 7
August 2017

EDA Invests in New Jersey Technology Companies


  *Numbers reflect program activity from inception through June 13, 2017  

EDA's Investments Support New Jersey Business Growth




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EDA recently launched the NJ CoVest Fund, which provides seed funding to New Jersey technology and life sciences companies to further commercialize their technology and scale revenues. Investments made through the NJ CoVest Fund align with the EDA's ongoing strategy of supporting New Jersey's entrepreneurial ecosystem.

Companies who may be interested can apply for $100,000 - $250,000 in the form of Convertible Notes with Warrants Support growth in business operations, product development, and sales revenue. The program application, along with eligibility guidelines, can be found on the NJCoVest Fund page at





The New Jersey Economic Development Authority (EDA) announced it will make more than 32,600 square feet of lab space available for rent within one of its Biotechnology Development Center (BDC) buildings at the 75-acre Technology Centre of New Jersey research park in North Brunswick. The BDC will offer intermediate (3,400 to 10,000 square feet) lab and office space for emerging companies that have outgrown their incubator space.

The Technology Centre of New Jersey also features the Commercialization Center for Innovative Technologies (CCIT), one of the more significant incubation facilities in the nation dedicated to life sciences and biotechnology companies.




Governor Christie: We've seen how big-name employers such as Honeywell, Amazon, Goya, LG Electronics, UPS, Subaru among many others have opened or expanded their presence in New Jersey over the last seven and half years. But what we often don't hear about are those innovative start-ups that become the next Celgene or the next Amicus Therapeutics. That's why I decided to come here to NJEDA's Commercialization Center for Innovative Technologies (CCIT) where life science and biotech companies have an opportunity to pioneer the technological advances of the future.





The New Jersey Economic Development Authority (EDA) has long been at the forefront of ensuring that growing technology companies have the resources they need to thrive - from loans and investments to training and mentoring opportunities. One example of this is TechLaunch, which was founded in 2012 by successful entrepreneur and angel investor, Mario Casabona, in collaboration with the EDA and New Jersey's angel investor community.

The investor-led technology accelerator was launched to drive the commercialization of emerging technology created by aspiring entrepreneurs. TechLaunch 1.0 provided a 16-week business boot camp program, from which entrepreneurs graduated by presenting their companies at a final “Demo Day.” It provided co-working space, mentoring, business workshops, coaching and access to capital to 26 ventures, 65 entrepreneurs, and 55 interns in the last three years.




This week's BIO International Convention gave leaders from New Jersey's vast life sciences ecosystem the chance to show emerging companies the advantages of establishing themselves within the State, such as its ideal location on the Eastern seaboard and the large number of pharmaceutical giants that currently call the State "home."

"The Garden State is truly the best place to start a biopharmaceutical company," New Jersey Economic Development Authority (EDA) Chief Executive Officer (CEO) Melissa Orsen said. "Thirteen of the world's largest biopharmaceutical companies maintain headquarters or major operations here, which leads to increased partnerships between established and growing pharmaceutical companies, and helps the smaller companies position themselves on the world stage."




Upcoming Event at the Commercialization Center for Innovative Technologies


The following is a list of upcoming events being held at the Commercialization Center for Innovative Technologies (CCIT). To RSVP, please email Cyndi Costello with your name, company affiliation and the event you would like to attend. CCIT is located at 675 US Highway One, North Brunswick, N.J. 08902.


Event: NIH-SBIR Program & 1-to-1 Appointments
Topic: Overview of the SBIR and STTR Programs with a Focus on the National Institutes of Health (NIH)
Time: 9:30 a.m. - 12:45 p.m.

Event Calendar


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