New Jersey Innovation Institute, Inc.

The New Jersey Innovation Institute (NJII) will lead the creation of the New Jersey Biopharmaceuticals Innovation and Enterprise Development Center (the Bio-Foundry). The Bio-Foundry will bring together a network of partners to expand a nascent innovation biopharmaceuticals cluster in New Jersey, including cell and gene therapies and biologics.

The network will: 1) scout and match emerging research discoveries at top universities in the region and throughout the US; 2) nurture and curate new ventures with both technical and business support; and 3) connect and expand the innovation ecosystem – including funding, facilities, and mentoring – to support increasing economic activity within New Jersey in this fast-growing sector. The project’s efforts will concentrate on the “commercialization” stage of technology innovation while maintaining tight connections with the many “proof of concept” resources in the state to ensure a continuum of new and growing businesses in the cluster.

By the end of the three-year grant period, NJII anticipates the project will have created 15 new companies that support 75 new jobs, with another 45 new companies in the pipeline.