When it comes to boosting innovation and entrepreneurship, New Jersey is stepping up its game in a big way.
The New Jersey Innovation Institute (NJII), a nonprofit connected to the New Jersey Institute of Technology (NJIT) based in Newark, just announced an exciting new initiative called the NJII Venture Studio.
This program is all about turning cutting-edge research into real-world businesses, supporting early startups, and giving a strong push to the state’s tech economy.
What Is the NJII Venture Studio?
The NJII Venture Studio is the newest member of New Jersey’s growing family of Strategic Innovation Centers (SICs).
It’s designed to be a launchpad for high-tech startups, giving them the tools and resources they need to thrive.
Over the next five years, the studio aims to kickstart 10 promising companies, each with the opportunity to receive funding of up to $1 million.
But it’s not just about money — startups will also get hands-on help from experienced mentors, operational support, office space, and access to NJIT’s extensive research facilities.
A Unique Approach to Building Startups
What sets the Venture Studio apart is how it brings together different strengths right from the start.
Mary Jane (MJ) Durkin, who leads the studio, emphasizes the importance of early collaboration with corporations.
This approach was highlighted by Robert Cohen, the NJIT Board of Trustees Chair and NJII Board Member, who also heads Digital, Robotics & Enabling Technologies at Stryker.
The studio will merge NJIT’s top-tier research capabilities with NJII’s operational know-how and the New Jersey Economic Development Authority’s (NJEDA) public-private support network.
Looking Ahead
With this strong foundation, the NJII Venture Studio is positioned to become a key player in New Jersey’s innovation ecosystem.
It’s not just about launching companies; it’s about building lasting partnerships and creating a vibrant environment where technology and business can grow together.
So, what’s next? We can expect to see some exciting startups emerge, new jobs created, and New Jersey’s tech scene gain even more momentum in the years ahead.