TRENTON, N.J. (Feb. 12, 2013) - The Christie Administration is looking to tap into the expertise of the private sector to bolster New Jersey's status as a leader in life sciences and healthcare technology. To help the industry's most promising entrepreneurs deliver products to market, the New Jersey Economic Development Authority (EDA) today announced that it will launch a Life Sciences/Healthcare IT Accelerator and secure a private partner to manage the effort.
"Governor Christie recognizes how important it is to nurture the growth of New Jersey's early-stage life sciences and technology companies, and this is another opportunity for the state to partner with the private sector to fill a market need," said EDA Chief Executive Officer Michele Brown. "The Life Sciences/Healthcare IT Accelerator will allow us to capitalize on the talent in our region and provide an environment that catalyzes innovation, entrepreneurship and job creation."
This initiative builds on the market success of New Jersey's first technology accelerator, TechLaunch, which the EDA created in 2012 with industry pioneer Mario Casabona. Consistent with TechLaunch, the concept and model of the Life Sciences/Healthcare IT Accelerator is based on a competitive selection of companies interested in advancing the commercialization of technology through seed funding and access to industry expertise. The EDA will host the Accelerator at its North Brunswick-based Commercialization Center for Innovative Technologies (CCIT), the state's leading life sciences incubator.