Issue: 3
August 2016

EDA Invests in New Jersey Technology Companies


  *Numbers reflect activity from program inception through July 30, 2016.  

EDA's Investments Support New Jersey Business Growth




Latest News


When the biotechnology world's eye turned toward BIO International Convention in June, New Jersey's delegation used the conference as an opportunity to highlight the broad continuum of assistance available to help technology and biotechnology companies at every stage grow in the State.

One key asset is the New Jersey Economic Development Authority's (EDA) Commercialization Center for Innovative Technologies (CCIT), the Garden State's leading life sciences incubator. Recognized as a hub of activity within New Jersey's technology sector, CCIT offers tenant companies, and the biotechnology community at large, a variety of resources to help them grow and thrive.





Indicative of the influx of emerging technology companies within New Jersey and collaboration among the state's entrepreneurs, accelerators are cropping up throughout the Garden State as a way to support technology startups as they grow.

Accelerators can provide early-stage technology companies with capital, mentorship, business training, key services and exposure to qualified investors, which will increase the value of an enterprise and the likelihood of follow-on funding.

"Long seen as a leader in innovation, New Jersey is fertile ground for up-and-coming entrepreneurs to launch their businesses," New Jersey Economic Development Authority (EDA) Chief Executive Officer Melissa Orsen said. "Along with a collaborative environment and a multitude of resources, accelerators offer yet another tool for emerging companies to grow and thrive in the Garden State."




Collaboration between New Jersey entrepreneurs, investors and industry leaders is the heart and soul of the State's vibrant technology ecosystem. Central New Jersey technology Meetups provide an outlet for this critical synergy to occur.

Through frequent events, Meetups provide a platform for entrepreneurs to network, discuss topics that affect their businesses, share information, and learn from one another. Meetup organizers often invite industry leaders to provide attendees insight into areas relevant to New Jersey's thriving technology industry. In addition to in-person events, Meetup websites offer members an online forum to communicate, leading to a free-flowing exchange of ideas.




New Jersey Founders & Funders events are beginning to bear fruit, as Bergen County-based Eventcombo recently received funding from NJIT Highlanders Angel Network as a result of the New Jersey Economic Development Authority (EDA)-hosted program.

Held at the EDA's Commercialization Center for Innovative Technologies, semi-annual NJ Founders & Funders events introduce entrepreneurs to investors in 10-minute one-on-one "speed dating" match ups, paving the way for emerging companies to attain the funding they need to grow in the state. To date, more than 150 startup companies have met with investors during five NJ Founders & Funders events.




June 2016 was an eventful month for life sciences business Chromocell. The company announced the continuation of a partnership with multi-national nutrition, health and wellness company Nestlé, one of several companies with which Chromocell collaborates to enhance the consumer experience. In addition, Chromocell's co-founder and Chief Executive Officer Christian Kopfli was named one of 12 winners of Ernst & Young's Entrepreneur Of The Year® 2016 New Jersey Award.

Founded in 2002, Chromocell has grown from a small biotechnology startup that utilized space in the EDA's Commercialization for Innovative Technologies (CCIT), into an innovative life sciences company that now employs over 120 people in graduate space on the Technology Centre of New Jersey campus in North Brunswick. The company is focused on discovering new drugs to manage pain, and develops and commercializes novel technologies beneficial to the average consumer - including new flavors, nutritional ingredients and therapeutics.




Recognizing that there is nothing more valuable than face time, Edison Partners recently began opening its doors to local entrepreneurs, founders, and the greater tech community. Open Office Hours take place every Tuesday and Thursday during the second week of each month. Tech companies interested in gaining feedback from a growth equity firm, looking for product guidance to get them to the next step, or simply want to practice their pitch as they ramp to get financing, can now sign up in advance to meet with one of Edison's partners for a 30-minute session.




Upcoming Event at the Commercialization Center for Innovative Technologies


The following upcoming event will be held at the Commercialization Center for Innovative Technologies (CCIT). For more information or to RSVP, please click the event link below.


Event: N.J. Founders & Funders (by registration only)
Topic: Meeting with Investors to Discuss Strategy, Business Models and Funding Opportunities
Time: 11:30 a.m. ‐ 3:30 p.m.

Event Calendar


To subscribe to ToutingTech, please visit
[~Optout style=""~]Opt Out[~EndOptout~]