23 High-Tech Companies to Benefit From a New Jersey Advanced Technology Initiative Says Governor Christie Whitman.TRENTON Trenton, town, Canada Trenton, town (1991 pop. 16,908), SE Ont., Canada, on the Bay of Quinte at the mouth of the Trent River and at the south end of the Trent Canal. Its manufactures include textiles, electronic components, and paper and steel products. , N.J.--(BUSINESS WIRE)--Aug. 13, 1999-- From Invention to Innovation, New Jersey is at the Forefront of Advanced Technology Underscoring her commitment to preserving New Jersey's preeminence pre·em·i·nent or pre-em·i·nent adj. Superior to or notable above all others; outstanding. See Synonyms at dominant, noted. [Middle English, from Latin prae as a global leader in high-technology innovation, Governor Christie Christie can refer to:
TTCP Technology Transfer Control Plan TTCP Test Transmission Control Protocol TTCP Test Training Certification Plan TTCP Tailored Technical Criteria Profile TTCP Test Tcp ). "New Jersey has long been known as the `Invention State,'" said Governor Whitman. "And it's it's 1. Contraction of it is. 2. Contraction of it has. See Usage Note at its. it's it is or it has it's be ~have no wonder, with the steady stream of high-tech high-tech also hi-tech adj. Informal Of, relating to, or resembling high technology. high-tech Adjective same as hi-tech Adj. 1. innovations coming out of our research universities. The Technology Transfer and Commercialization Program helps move these ideas out of the laboratory and into the marketplace." Administered by the Commission on Science & Technology under the auspices aus·pi·ces 1 n. Plural of auspex. auspices Noun, pl under the auspices of with the support and approval of [Latin auspicium augury from birds] Noun of the New Jersey Commerce & Economic Growth Commission, the state's lead economic development agency, the Technology Transfer and Commercialization Program provides direct funding to New Jersey-based high-tech start-ups with advanced technology-based products that can be brought to the marketplace in a short period of time. "There is no doubt that innovation and entrepreneurship en·tre·pre·neur n. A person who organizes, operates, and assumes the risk for a business venture. [French, from Old French, from entreprendre, to undertake; see enterprise. are stimulators of economic growth," said Gualberto "Gil" Medina, Chief Executive Officer & Secretary of the New Jersey Commerce & Economic Growth Commission. "If these companies achieve commercial success in the marketplace, everybody wins. New Jersey gains additional jobs, the economy expands, and the state remains a leader in high-tech." This year, through Governor Whitman's Whitman's is one of America's largest and oldest chocolate production companies. Originally a "confectionery and fruiterer shoppe" set up in 1842 by 19 year old Stephen F. Whitman on a Philadelphia waterfront, Whitman's first became popular with travelling sailors and their wives. support, funding for the Technology Transfer and Commercialization Program has grown to nearly $5 million. High-technology start-ups that receive a loan through the program are required to match the loan amount dollar-for-dollar, and pay it back to the Garden State within 10 years. "One of the significant factors limiting small, high-tech start-up companies start-up company A new business. is the availability of seed funds to enable them to develop their product or service and bring it to the marketplace," said Dr. John V. Tesoriero, Executive Director of the Commission on Science & Technology. "With the Technology Transfer and Commercialization Program, we are able to address this need and foster economic development through the growth of high-technology companies throughout the state. I believe this to be a wise investment in our future." Twenty-three firms were awarded matching loans. One example is Princeton-based Sensors
LLC - Logical Link Control , which received a $150,000 loan for its "seeing" devices which can detect dangerous ice build-up build·up also build-up n. 1. The act or process of amassing or increasing: a military buildup; a buildup of tension during the strike. 2. on roadways as well as on the wings of aircraft. "High-technology start-ups face many challenges," said Dr. G. H. Olsen Olsen may refer to:
New Jersey is a global leader in pharmaceuticals, biotechnology, telecommunications Communicating information, including data, text, pictures, voice and video over long distance. See communications. , chemicals, and other advanced technologies. Governor Whitman's broad base of initiatives that support the state's high-tech industries include tax incentives to the state's emerging biotechnology industry; the state-of-the-art Technology Centre of New Jersey The Technology Centre of New Jersey is a science park in North Brunswick Township, New Jersey, United States, established by the New Jersey Economic Development Authority as a high technology business incubator. in North Brunswick Brunswick, cities, United States Brunswick. 1 City (1990 pop. 16,433), seat of Glynn co., SE Ga., on St. Simon's Sound near the Atlantic coast; laid out 1771–72, inc. 1856. It is a port of entry with numerous container docks. ; and the Edison Partnership, a public/private partnership that promotes the state's high-tech industries. Moreover, financing opportunities for eligible New Jersey high-tech companies include the Technology Funding Program, a financing partnership administered by the New Jersey Economic Development Authority The New Jersey Economic Development Authority (EDA) is an independent, quasi-governmental self-supporting entity in the U.S. state of New Jersey dedicated to broadening and expanding the state's economic base. that provides expansion capital to high-tech companies in amounts up to $3 million; the New Jersey Seed Capital Program, designed to fill financing gaps in the availability of seed capital for growing, technology-based companies with loans that range from $25,000 to $200,000; and Seed-Stage investments from $50,000 to $1.5 million which are available for eligible high-tech startups through the Commission on Science & Technology. The New Jersey Commerce & Economic Growth Commission is the state's lead agency in coordinating efforts with government and private economic development resources to provide a broad range of technical, financial and other assistance services to the business community. Below is a complete list of high-tech companies that will benefit from New Jersey's nearly $4.4 million Technology Transfer and Commercialization Program this year: 1 Chemionic Enterprise, Colonia -- Developing a portable ceramic oxygen generator. $80,000 2 EEI, Pluckemin -- Commercialization of a continuous emission monitor for mercury in flue gas. $100,000 3 ElectroChemical Systems, Ridgewood-- Novel equipment for electronics. $125,000 4 Electromagnetic Technologies, Springfield -- Odd mixing network. $140,000 5 EpiGenesis Pharmaceuticals, Princeton -- Pre-clinical manufacture and toxicology of EPI2010: A novel anti-asthma therapeutic. $250,000 6 GORCA Technologies, Moorestown -- Blood velocity diagnostic and monitoring device. $249,962 7 Green Drop Ink Co., Morristown -- A water-based ink that substantially reduces energy consumption during the lithographic printing process. $250,000 8 IMCS-Rutgers, New Brunswick -- Commercialization of natural product discoveries from extreme environments. $119,000 9 Millennium Cell Co., Cranbury -- A new, high-energy borohydride-air cell for powering tomorrow's vehicles and appliances. $226,000 10 New Jersey Sea Farms, LLC, Bridgeton -- An "aquaculture" process that will raise cold water fish in tanks along the coastline. $123,468 11 Ocean Power Technologies, West Trenton -- Developing a 5-10 kilowatt wave power buoy. $250,000 12 Patient Comfort, LLC, Chatham -- A human face monitor (medical application). $150,000 13 PharmaSeq, Inc., Monmouth -- Light-powered mircotransponders in RFIDA applications. $250,000 14 Polywood, Inc., South Plainfield -- Developing a railroad crosstie made up of post-consumer recycled plastic. $140,560 15 Princeton Electronic Systems, Princeton -- optoelectronic oscillators for wireless communications. $242,365 16 Princeton University, Princeton -- Commercialization of dense wave-length multiplexed (DWDM) receiver technology. $150,000 17 Princeton University's Center for Excellence in Photonics (POEM), Princeton -- Non-contact sheet resistivity tool for semiconductor metrology. $169,790 18 Sealtech Company, LLC, Weehawken -- Extrusion process installation and start-up. $250,000 19 Sensors Unlimited, LLC, Princeton -- An enhanced infrared imaging system for ice detection on roadways and aircraft. $150,000 20 Structured Materials, Inc., Piscataway -- Complete oxide chemical vapor deposition (CVD). $250,000 21 Therics, Inc., Princeton -- Anatomically accurate bone graft products made by three-dimensional fabrication. $189,198 22 Westar Photonics, Inc., Princeton -- Development of a commercial maskless patterning system for semiconductor manufacture. $250,000 23 WorldWater Corporation, Pennington -- Off-grid drip irrigation system. $249,967 www.state.nj.us/commerce |
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