|For Immediate Release
Tuesday, November 14, 2006
|For More Information:
Grants Place 12 Talented Scientists in NJ Technology Companies
TRENTON – The New Jersey Commission on Science and Technology today awarded nearly $1 million for twelve New Jersey Technology fellowships under the Edison Innovation Fund, placing talented PhD graduates into New Jersey technology companies.
The Commission currently supports 17 technology fellows working in NJ companies throughout the state. With the awards announced today the Commission will soon have 23 talented PhD graduates contributing to the technology economy in New Jersey.
The Fellowship Program has a substantial effect on both the company and the postdoctoral graduate. Dr. James Nehlsen, a technology fellow working at Exelus, Inc. in Livingston, NJ says the Fellowship program “lowers the barriers for engineering and science graduates to join small companies and stimulates the growth of those companies by providing them with skilled researchers.” Since Dr. Nehlsen joined Exelus, Inc. in February 2006, the company was able to hire an additional two engineers, due in large part to his contributions.
The New Jersey Technology Fellowship program helps move cutting-edge research from the lab to the marketplace by providing funding for up to two years to emerging high-tech companies that hire postdoctoral gradates from New Jersey research universities. The program retains the best PhD scientists in New Jersey, where they can help stimulate entrepreneurial companies.
The Commission announced the awards at its quarterly meeting held today at Stevens Institute of Technology. The awards were part of nearly $2.5 million in Edison Innovation Funding awarded to 19 New Jersey technology companies.
As part of the Governor’s Strategic Economic Growth Plan, the Edison Innovation Fund has been launched with $150 million committed in partnership by the EDA and the Commission on Science and Technology that will leverage $350 million in private capital. Resources from the Fund will support research and development in the growth and core industries vital to the state economy.
About The Commission
NJCST, 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, the Secretary of Commerce and Economic Growth Commission, the Commissioner of Education, a representative of the Governor and four legislators.