Issue: 4
November 2016

EDA Invests in New Jersey Technology Companies


  *Numbers reflect program activity from inception through Oct. 31, 2016  

EDA's Investments Support New Jersey Business Growth




Latest News


The New Jersey Economic Development Authority (EDA) provided more than two dozen emerging technology and life sciences companies the opportunity to meet with angel and venture capital investors as it hosted its sixth New Jersey Founders & Funders event.

Held at the EDA's Commercialization Center for Innovative Technologies (CCIT) in North Brunswick, New Jersey Founders & Funders enables early-stage New Jersey businesses to meet with potential investors in 10-minute, one-on-one "speed dating" sessions to discuss strategy, business models and funding opportunities. To date, New Jersey Founders & Funders has provided more than 175 entrepreneurs with opportunities to meet with investors on a variety of topics and gain critical insight on how best to position their startups within the Garden State's vibrant technology ecosystem.





Continuing its efforts to bolster innovation in the Garden State, the New Jersey Economic Development Authority (EDA) approved its 14th venture fund investment at its October Board meeting. Action taken will result in a limited partnership investment of up to $7.5 million in Tech Council Ventures II, which aims to invest in early-stage companies spanning key industries that are currently experiencing rapid growth.

"Since the days of Thomas Edison, New Jersey has always been a leader in innovation," EDA Chief Executive Officer Melissa Orsen said. "Through investments in venture funds such as Tech Council Ventures II, the State routinely provides early-stage companies with much-needed capital that they can use to bring products to market or expand existing product lines. These investments have the dual benefit of keeping New Jersey at the forefront of innovation and creating jobs within the Garden State."




Linking his enthusiasm for motorcycle riding with a desire to ensure the safety of fellow riders, New Jersey entrepreneur Ryan Shearman co-founded Fusar Technologies in 2013. Fusar develops technology that can turn regular helmets into smart helmets for cyclists, motorcyclists, skaters, skiers and snowboarders to use during their adventures.

Fusar describes its Universal Smart Helmet System as "an action camera, communication system, navigation unit, black box and emergency response system all wrapped into one."




Continuing its commitment to bolster the Garden State's robust technology ecosystem, the New Jersey Economic Development Authority (EDA) announced that 40 New Jersey technology and biotechnology companies have been approved to share over $35 million in Fiscal Year 2017 through the State’s Technology Business Tax Certificate Transfer (NOL) Program.

Administered by the EDA and the New Jersey Department of Treasury's Division of Taxation, this competitive program enables eligible technology and biotechnology companies to sell New Jersey tax losses and/or research and development tax credits to raise non-dilutive cash to finance their growth and operations.




Touting the positive impact that the State's Angel Investor Tax Credit Program has already had on startups in the Garden State, the New Jersey Economic Development Authority (EDA) announced the approval of 23 investments between January and July 2016. The investments represent the injection of more than $16.5 million in private capital into New Jersey's early-stage technology and biotechnology companies, including Jersey City-based Ogg Trading. Through July 31, 2016, more than $142 million in private investment in young technology and biotechnology companies has been supported through the Angel Investor Tax Credit Program since its inception in 2013.




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 click the link for the event that you would like to attend. CCIT is located at 675 US Highway One, North Brunswick, N.J. 08902.


Event: CCIT Biotech Funding Panel (by registration only)
Topic: Early Stage Biotech Investing in 2017: Strategies
For A Changing Environment
Time: 4:30 p.m. ‐ 6:30 p.m.

Event Calendar


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