New Jersey Advantage
 
Email Us
LOGIN TO MY NJ BUSINESS-    Why Login? | QUICK LINKS
 
 
Edison Innovation Fund
photo of research worker
Launched as an element of  Governor Corzine’s Economic Growth Strategy, the Edison Innovation Fund seeks to create, sustain, and grow high-tech businesses that will lead to well-paying job opportunities for all New Jersey residents.  The Fund is an integrated set of resources that support technology and life science initiatives throughout all stages of discovery, development, and commercialization.  To date, the combined resources of the New Jersey Economic Development Authority and the New Jersey Commission on Science and Technology have enabled state investments of nearly $150 million.  In addition, over $260 million in total project costs has been leveraged by Edison Innovation Fund investments.

The Edison Innovation Fund’s implementation is supported by specific strategies that:
  • Provide support to colleges, universities, and companies to help them develop the commercial potential of research;
  • Accelerate the commercialization of technology;
  • Provide technical, financial, and facility-based support to the State’s technology businesses.

Going forward, the Edison Innovation Fund will continue to support university research and development in the growth of core industries vital to the State’s economy, including: life sciences, stem cell research, clean  energy, and information and communication technologies.  Advancing stem cell research will be of particular importance.  The Edison Innovation Fund will advance the State’s Energy Master Plan by encouraging the use of clean/renewable energy.  A major outcome of these investments is intended to be an  increase the “tech transfer” rate—the process by which the results of scientific research are  developed into practical applications. The Fund will continue to assist technology and life science companies by improving access to technical resources, providing creative and accessible  financing products as well as laboratory and acceleration space in state supported facilities.