New Jersey Commission on Science and Technology Announces New Programs

Trenton – The New Jersey Commission on Science and Technology today announced two new funding programs for Fiscal Year 2009 to enhance entrepreneurship and support life science and technology based industries.

The New Jersey Technology Entrepreneurship Fellowship will allow recent MBA graduates to work in technology companies.  A second program, The Edison Renewable Energy Technologies Fund, will promote entrepreneurship in the much needed field of renewable and energy efficiency technologies.

“I am very pleased to see the growth and continued commitment of the Commission to support cutting edge innovation through these two new initiatives,” said. James J. Coleman Jr., Commission Chairman. “We hope to continue to encourage New Jersey entrepreneurs to take advantage of the world class environment created by these programs.”

The Commission also acted today by approving the following grants:

• SBIR Bridge Grant Program – The Commission approved  three awards for the following companies: $49,000 for the AppleChem Inc, $ $50,000 for Lanterra Inc and $50,500 for  Princeton Power Systems, Inc
• New Jersey Technology Fellowship Program – The Commission awarded $85,000 to ExSAR Corp to employ Dr. Deepangi Pandit, a second year New Jersey Technology Fellow.New funding for the Centers of Excellence Federal Matching Program providing up to $100,000 to Rutgers University in collaboration with UMDNJ. These funds will be a match for the federal grant awarded under the National Science Foundation

The New Jersey Commission on Science and Technology, established in 1985, is responsible for the development and oversight of policies and programs promoting science and technology research and entrepreneurship in New Jersey. Commission members include business leaders, university leaders, scientists, Commerce Commission, the commissioner of Education, a representative of the Governor, and four legislators.