For Immediate Release
Tuesday, March 24, 2009
For More Information:
Arti Sahni: (609) 984-1671
Companies are provided with much needed support to continue technological Research and Development
Trenton - The New Jersey Commission on Science and Technology today announced funding awards totaling $272,240.00 to promote and sustain innovation in the state. Three grants were awarded for the second year fellowship program to assist companies with their product development and research activities needed for commercialization. The companies awarded were;
- Aestus Therapeutics, Inc. $60,000
- Lux Biosciences, Inc., $60,000
- Treadstone Technologies, $60,000
The Technology Fellowship program was created to recruit and retain talent in New Jersey, assist growing technology companies and build collaboration between universities and companies
"New Jersey's talent needs to be supported and nurtured in the current market conditions," said Mr. James J. Coleman Jr., Commission Chairman. "We are happy to be able to do this through the Commission and hope to continue to encourage New Jersey entrepreneurs to take advantage of the excellent support and opportunities provided by our programs."
The Commission also awarded one SBIR Bridge Grant in the amount of $50,000 to We Voice, Inc to assist the company in the design of a new spacesuit multichannel acoustic data collection and audio database. SBIR Bridge Grants help sustain small businesses through the funding gap between completion of the Phase I grant and initiation of a Phase II award.
Funding in the amount of $42,240.00 was also approved for the New Jersey Small Business Development Center at Rutgers University to administer SBIR training sessions throughout the year and to provide individual training to New Jersey researchers to apply for federal research dollars. The SBIR Training Grant was developed by the Commission in order to offers a series of training sessions throughout the year to help entrepreneurs gain the necessary tools to successfully submit SBIR/STTR Phase I and Phase II proposals to one of the 11 federal agencies.
Established in 1985, the New Jersey Commission on Science and Technology promotes science and technology research and entrepreneurship through the development and oversight of programs that impact economic growth. Commission members include representatives from industry, venture capital, academic institutions, and government.