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NJBIN Incubator News

Burlington County College High Technology and Life Science Incubators and Rutgers Camden Business Incubator

Sure-BioChem, a Burlington County College High Technology and Life Science Incubators and Rutgers Camden Business Incubator client, has been selected as a Life Science Award winner in the category of Best Incubator Company by the Philadelphia Business Journal.

Commercialization Center for Innovative Technologies

Aestus Therapeutics, Inc. has been awarded a $2 million Small Business Innovative Research (SBIR) grant from the National Institutes of Health (NIH). The grant, from the NIH's National Institute of Neurological Disorders and Stroke (NINDS) will fund clinical trials of Aestus's novel, first-in-class treatment for chronic neuropathic pain.

Ikano Therapeutics, Inc (ITI) and Upsher-Smith Laboratories have concluded an exclusive global licensing agreement for ITI-111, ITI's midazoiam nasal spray. Under the terms of the agreement, Upsher-Smith will assume responsibility for all further development and commercialization of the product which has received Orphan Drug status for treatment of acute repetitive seizures in patients with epilepsy.

Steve Sun (CEO) and Amy Liao (COO), of GeneWiz, Inc. were named the Ernst & Young Entrepreneur of the Year Award 2010 in New Jersey in the services category. The award recognizes outstanding entrepreneurs who are building and leading dynamic, growing businesses. GeneWiz is a leader in global DNA sequencing.

Enterprise Development Center at NJIT

The EDC 2010 Angel Forum will take place on October 19th. The event will include a wine and cheese networking meet-up. Angel Forums are preceded by professionally-led training sessions that culminate in opportunities to make on-site presentations to potential investors. Go to www.njit-edc.org for additional information.

Edge Therapeutics Inc., a specialty pharmaceutical company focused on improving the delivery of life-saving medicines to the brain has entered into a feasibility agreement with SurMoics Inc. (NASDQ: SRDX), a leading provider of drug delivery and surface modification technologies to the healthcare industry. SurModics will develop a novel biodegradable, site-scientific, sustained-release formulation (NimoGel ™, EG-1961) for treatment of delayed complications of ruptured brain aneurysms or traumatic brain injury (TBI). NimoGel, Edge's lead drug, is a combination of the FDA-approved drug nimodipine, a calcium channel blocker, and a proprietary biodegradable delivery system designed to be injected delivered directly into the subarachnoid space around the brain.

P2B is a mentoring program at the New Jersey Institute of Technology’s Economic Development Center to support and supplement the incubator’s existing programs. P2B brings together startup companies and seasoned executives who volunteer to help move the early-stage companies forward. The mentors include retired people, people between jobs, people wanting entrepreneurial experience, and corporate volunteers.

New Jersey City University Business Development Incubator (BDI)

MET Tech Inc., a BDI client since July 2007, graduated to larger facilities near the Liberty Science Center in Jersey City in May 2010. During its time at BDI, the company grew from a one-person operation to a viable company with the staff of six, including two PhDs. MET Tech is developing a unique suite of inertial sensors capable of high performance in a small, rugged, package at low cost compared to competing products. The company is negotiating agreements with two major geophysical companies to finish development, produce, market and distribute a seismic sensor for oil and gas exploration in the US and internationally. The relocation will enable the company to expand and set up prototyping and testing facilities.

BDI welcomes a new company, Brand Excitement, to its facility. Brand Excitement is a brand development and marketing company that provides corporate identity, website design, and social media marketing for small service-based businesses.

New Jersey Meadowlands Commission Business Accelerator

Agreenability successfully manufactured a full scale prototype geothermal ground loop heat exchanger. Their goal of designing a relatively easy to manufacture, high-efficiency heat exchanger was achieved. Plans are underway for installation and a comparative study against conventional systems.

Gotham Analytics, a 2009 NJTC “Incubator Company to Watch,” expanded their solar powered, satellite communication flood warning system that was developed for the Meadowlands Region, to a demonstration site in the Chesapeake.

NobleGeofurnace is a finalist in the PSE&G Energy Technology Demonstration Grant program. They have developed a geothermal battery system that significantly reduces the cost of installing a geothermal system, which is a major limiting factor in the development of the geothermal energy market.

Saturnine Games first game, Cosmos X2, has been approved by Nintendo and will soon be released for download on the Nintendo DSiWare service. The founder, Ed Di Geronimo was an intern at the NJMC Business Accelerator last summer and returned this summer to successfully start his own business. Watch for Cosmos X2!

Rutgers EcoComplex

Metro Energy, a recent graduate, is completing construction of their 110 million gallon-per-year biodiesel production plant at their headquarters in Brooklyn, New York. A demonstration facility at the EcoComplex was employed to secure the necessary data for the full-scale commercial facility.

Adsorptech Inc. has completed development of a two-stage landfill gas-to-electric demonstration at the Rutgers EcoComplex. The company is now seeking a New Jersey landfill partner to construct a full scale commercial facility.

Ayers LLC has recently received an Air Force Grant for research in ultra capacitors.

Acrion Technologies Inc., an EcoComplex graduate, has recently completed a renewable energy project located at the Green Energy Center, Solid Waste Authority, in Columbus, Ohio. Their technology is converting landfill gas into clean compressed natural gas [CNG] for use as a transportation fuel for Authority garbage trucks.

Rutgers Food Innovation Center

Steve’s Club, a Camden, New Jersey-based non-profit organization and marketer of a specialty line of products for the “paleo” diet, is one of the newest clients at the Rutgers Food Innovation Center (FIC) in Bridgeton, New Jersey. Steve’s Club produces Paleokits snack packs at the incubator, a blend of free-range beef jerky, raw nuts and dried berries that are sold via the internet and to CrossFit fitness and conditioning programs across the country. The proceeds from Steve’s Club support efforts to improve the lives of youth in Camden through fitness and community. Going forward, the FIC is developing a forecasting model to help the company better match its inventory with demand. The center is also assisting in fleshing out possible line extensions and a branding strategy to expand into national distribution. Paleokits, Paleokrunch Cereal and Paleokrunch Bars are available for purchase on the Steve’s Club website http://www.stevesoriginal.com/. Find out more about Steve’s Club and its work to help Camden youth, and how to donate to the organization or sponsor an athlete at http://stevesclub.org.

Sustainable Business Incubator

The Sustainable Business Incubator is being reorganized and seeking alternative location(s) and affiliations. While it will remain associated with the Institute for Sustainable Enterprise at Fairleigh Dickinson University, it will be managed on a day-to-day basis by the Center for Leadership in Sustainability, an independent New Jersey nonprofit. In the meantime, several substantial projects have been undertaken and completed successfully, including:

The creation of a "Museum of the Future," featuring living walls, renewable energy demonstrations, and sustainability education, at the Woodbridge Center Mall in Woodbridge, New Jersey.

Developing the Sustainable Haiti Coalition and promoting business incubation, innovation, and entrepreneurship in Haiti; co-leading an event at the UN Global Compact, an international organization of businesses dedicated to corporate social responsibility; and assisting businesses in tidal energy, smart grid technology, and biomaterials; and securing a grant to assist startup in low-income areas in Middlesex County.

The National Business Incubation Association (NBIA) is the world’s leading organization advancing business incubation and entrepreneurship. Each year, it provides thousands of professionals with information, education, advocacy and networking resources to bring excellence to the process of assisting early-stage companies. An elected, voting board of directors representing the world's leading incubators governs the association.

The New Jersey Business Incubation Network (NJBIN) is a collaborative state-wide community of business experts, resources and facilities dedicated to enhancing the commercial success of early-stage entrepreneurial companies, growing higher paying jobs in New Jersey and supporting the Economic Growth Strategy for the State.

Copyright © 2010 NBIA