ToutingTech
Issue: 5
February 2017
 
 
 

EDA Invests in New Jersey Technology Companies

 
 
 

 
 
  *Numbers reflect program activity from inception through Feb. 8, 2017  
 
 
 

EDA's Investments Support New Jersey Business Growth

 
 
 

 
 

 
 
 

Latest News

 
 
 
 
 
 

The Commercialization Center for Innovative Technologies (CCIT) is the leading incubator in the region dedicated to life sciences and biotechnology companies. Labs range from approximately 800 – 1,000 sq. ft. and are “plug and play” ready.  Tenant companies have shared access to conference rooms, reception services, two kitchens, loading docks, an NMR, dishwashing and autoclave.  Separate private offices are also available.

Many successful companies have graduated from CCIT, including Advaxis (Nasdaq: ADXS), Amicus Therapeutics (Nasdaq: FOLD), Chromocell (founded by Nobel laureate Gunter Blobel), GENEWIZ (over 1000 employees), and more.


 

 
 

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The New Jersey Economic Development Authority (EDA) announced the approval of a record-breaking 251 applications through the State's Angel Investor Tax Credit Program in 2016, representing the injection of more than $96 million in private capital into technology and life sciences companies throughout the Garden State. In the fourth quarter of 2016 alone, the EDA approved 198 applications.

Administered by the EDA in consultation with the New Jersey Division of Taxation, the Angel Investor Tax Credit Program offers a 10 percent refundable tax credit against New Jersey corporation business or gross income tax for qualified investments in an emerging technology business with a physical presence in New Jersey and that conducts research, manufacturing, or technology commercialization in the state.

 
 
 

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The New Jersey Economic Development Authority (EDA) announced that Celmatix Clinical Laboratories, a subsidiary of digital health technology industry leader Celmatix, has established its new laboratory at the EDA's Commercialization Center for Innovative Technologies (CCIT) in North Brunswick.

"New Jersey is widely recognized as a leader in innovation," EDA Chief Executive Officer (CEO) Melissa Orsen said. "Combined with CCIT's array of resources available to emerging life sciences companies, it's easy to see why Celmatix Founder and CEO Dr. Piraye Yurttas Beim chose to locate Celmatix Clinical Laboratories at our facility."

 
 
 

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As the number of businesses storing information in the cloud skyrockets, and access to analytical data is becoming more critical, companies like Holmdel-based Avlino, Inc. find themselves in growing demand.

"Avlino was established with a mission to simplify data analytics for businesses of all sizes by tying together all the intricacies of the data analytics process into one comprehensive, easy-to-use, interactive platform," Avlino Founder, President, and Chief Executive Officer (CEO) Ramana Jampala said.

 
 
 

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As 2016 came to a close, the New Jersey Economic Development Authority (EDA) looked back at the ten EDA-supported companies that generated the most buzz on @NJEDATech's Twitter account this year:

"The companies highlighted, along with so many others, represent the entrepreneurial spirit that is alive and well in New Jersey,"" EDA Chief Executive Officer (CEO) Melissa Orsen said.  “I am continually impressed with the broad spectrum of technology and life sciences companies currently calling New Jersey ‘home,’ and I look forward to seeing what’s in store for the State’s technology sector in 2017.”

 
 
 

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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). CCIT is located at 675 US Highway One, North Brunswick, N.J. 08902.

 
Apr
27

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

 
 

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