Issue: 1
February 2016

EDA Invests in New Jersey Technology Companies


  *Numbers reflect activity from program inception to date  

EDA's Investments Support New Jersey Business Growth




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The New Jersey Economic Development Authority (EDA) announced that five highly-qualified individuals have been selected to serve as its second group of Executives-in-Residence (EIRs), mentoring and advising emerging technology companies at the Commercialization Center for Innovative Technologies (CCIT) in North Brunswick. Developed in collaboration with BioNJ, the EIR program is designed for high-level biotechnology executives currently in transition.

"New Jersey's technology ecosystem invites and encourages mentorship and collaboration between established life sciences executives and up-and-coming biotechnology companies," EDA Chief Executive Officer Melissa Orsen said. "The EIR Program harnesses that collaborative energy to benefit the next generation of entrepreneurs."




As one of the more significant incubation facilities in the nation dedicated to life sciences and biotechnology companies, the New Jersey Economic Development Authority's (EDA) Commercialization Center for Innovative Technologies (CCIT) has evolved into a hub of activity for the Garden State's burgeoning life sciences industry.

From hosting events such as New Jersey Founders & Funders, which introduces startup companies to angel and venture investors, to Lunch and Learn presentations that bring in industry experts to discuss topics relevant to emerging companies, CCIT offers something to each of its tenants and to the life sciences community at large. Ideally situated in the heart of the State's research corridor between Rutgers and Princeton universities, CCIT offers the most wet labs of any incubator in New Jersey.




With an online presence becoming more and more critical to the success of businesses, Clark-based Gold Group Enterprises uses its proprietary cloud-based software platform to help clients in a variety of industries expand their digital footprint.

Nearly a dozen years after it was founded as a software development company, the business changed its name earlier this year from "Gold Mobile" to "Gold Group Enterprises" to better present the array of capabilities it now offers for addressing the needs of its growing list of clients and partners. Today, the company offers a three-pronged approach to ensure its customers have access to resources they need to reach their full potential.




Showcasing the State's commitment to supporting small, innovative businesses, members of the New Jersey Economic Development Authority's (EDA) Technology and Life Sciences Division were in attendance as Indiegrove cut the ribbon on its newly expanded co-working space facility. The celebration comes after Indiegrove closed on a $175,000 loan from the EDA.

Indiegrove used the funding provided by the EDA to nearly double its space, from 6,000 square-feet to 10,268 square-feet, including adding a floor to its location near a transit hub in downtown Jersey City.




Edison Partners enters 2016 at an exciting point in its history. The investment firm recently moved back to its original home in Princeton, and is also in the midst of investing in technology-sector businesses through its newest fund, Edison Partners VIII.

Last January, the Board of the New Jersey Economic Development Authority (EDA) approved a $2.5 million limited partnership investment in Edison VIII. Under the leadership of Managing Partner Chris Sugden, the fund will invest in 20-25 growth stage technology businesses across four industry sectors: financial technology, healthcare information technology, marketing technology, and enterprise 2.0 (focused mainly on mobile, security and business operations software).




Upcoming Events 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: Meet with Money Series
Speaker: Alan N. Walter, Counsel
Topic: An Overview of Equity Crowdfunding and Private Offerings
Time: 12:00pm - 1:00pm

Event: Executive in Residence Presentation Series
Speaker: Sam Kongsamut, PhD, Executive in Residence - Investment and Partnering Strategies
Topic: The Importance of the Story in Team Building and Fundraising
Time: 12:00pm - 1:00pm

Event: LinkedIn 101
Speaker: Rachel Goemaat, Communications Officer, NJEDA
Topic: Learn the basics of using the social media platform LinkedIn to connect with your targeted audience
Time: 10:00am - 11:00am

Event: Meet with Money Series
Speaker: Dr. Shalini Cornelio
Topic: Communicating with Wall Street
Time: 12:00pm - 1:00pm

Event Calendar


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