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The New Jersey Life Sciences Vendors Alliance (NJLSVA) is a coalition of businesses, individuals and academia who provide goods and services to New Jersey’s life sciences companies.

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Government and Industry Leaders Herald Launch of New Jersey Innovation Institute, An NJIT Corporation

Newark, NJ, April 22, 2014 — Government and industry leaders today gathered at the New Jersey Institute of Technology (NJIT) to join NJIT President Joel S. Bloom for the launch of the New Jersey Innovation Institute (NJII), an NJIT corporation that provides a new model for business innovation through the leveraging of industry, government, and higher education assets and investment.

U.S. Senator Cory Booker, Panasonic Corp. of North America Chairman and CEO Joe Taylor, New Jersey Lieutenant Governor Kim Guadagno, New Jersey Secretary of Higher Education Rochelle Hendricks, and New Jersey State Senator Raymond Lesniak attended the NJII event and discussed the importance of the venture as well as its potential to facilitate economic development through the marriage of industry-driven agendas and NJIT’s intellectual and technological assets.

Bloom noted NJIT’s long history of partnership with private industry, saying, “Economic development…is in NJIT’s blood and is expressly stated as part of our mission.”

“From the very beginning, our university was created to provide a skilled workforce that could serve New Jersey industries,” Bloom said.  “And, throughout our history, we have viewed industry as a true partner, adapting over time and engaging in a range of business-friendly ventures because we recognize that our success and the success of our graduates are undeniably intertwined with the success of New Jersey industry.”

Five sector-focused innovation labs will comprise the Innovation Institute, and those labs will specialize in developing technological solutions to challenges identified by industry partners as well as providing a broad range of related services identified by those partners.

The initial sectors supported by innovation labs include:

  • Civil Infrastructure
  • Defense and Homeland Security
  • Healthcare Delivery Systems
  • Bio-Pharmaceutical Production
  • Financial Services

NJII President Don Sebastian said, “We are not repackaging what NJIT is already producing.  We are asking industry what we can do for them.  By following industry-led agendas designed to spur economic development and business growth, NJII will facilitate product creation/enhancement and develop technological solutions for sector-wide and/or company-focused challenges.”

Taylor explained that NJII will fill a critical area of need for manufacturing companies, like Panasonic.  “The future for our companies…in terms of the innovation and technology and the workers of the future is almost solely dependent upon our relationships with academia and the universities….The New Jersey Innovation Institute is perfectly timed.”

U.S. Senator Cory Booker added, “NJII is poised to help industries at every stage — from the birth of an idea in a lab to refining how that idea is produced.  The New Jersey Innovation Institute is going to help our state remain one of America’s most important engines for economic growth and global competitiveness.”

About NJII

The New Jersey Innovation Institute (NJII) is an NJIT corporation that applies the intellectual and technological resources of the New Jersey Institute of Technology to challenges identified by industry partners.  Through innovation labs following industry-led agendas, NJII spurs product creation and enhancement, develops technology solutions, and drives regional economic growth.  

To view a video about NJII, click here.  Visit www.njii.com for more information.