Turning university discoveries into vibrant and growing businesses in New Jersey is our goal at the Commission on Science and Technology. The University Intellectual Property program provides targeted funding to enable New Jersey research universities to develop new products, create new businesses and generate new quality jobs in New Jersey.
The Commission on Science and Technology in April 2005 launched the Commercializing University Intellectual Property program, allocating $1 million to help New Jersey research universities accelerate the transfer of innovations from lab to marketplace. The University IP Program was designed to allow New Jersey's research universities to enhance their commercialization activities and request support from the Commission to meet these goals.
As part of its activities of enhancing commercialization prospects for university generated intellectual property and other technological initiatives, Rutgers has created the Rutgers Technology Transfer Forum. This program is a series of commercially oriented technology presentations aimed at establishing communications links between the venture investment community, the basic research engines located in the state’s universities and the technology companies of New Jersey. Rutgers has invited participation by the other three research-intensive universities in this activity aimed at educating the investment and business community to the opportunities available out of New Jersey’s university based research enterprise. Plans are being developed to expand the number and scope of these presentations in support of the overall NJCST commercialization efforts in the state.
University of Medicine and Dentistry of New Jersey
UMDNJ has collaborated with Rutgers University School of Business to enable Rutgers students to intern at the UMDNJ Office of Patents and Licensing. Rutgers students analyze license agreements for compliance and work with UMDNJ faculty inventors to develop business plans.
New Jersey Institute of Technology
NJIT has created multi-disciplinary teams of students, including an MBA candidate and a graduate student in a specific technological discipline to assess university-generated intellectual property. Students work side-by-side with entrepreneurs. Teams plan to present final reports during a special seminar on technology commercialization in June 2006.
Princeton established a “Gap Fund” awarding from $25,000 to $100,000 to faculty members for proof-of-concept, animal studies, data collection and prototyping to demonstrate the commercial potential of their innovations. Winners included: a miniaturized atomic clock valuable to GPS receivers, potential new antibiotic compounds, video security technology, protein purification methods for New Jersey pharma and biotech industries, biosensors to monitor groundwater and detect biohazards and a coating to prevent corrosion that already is being eyed by a company moving to New Jersey from New York.