For Immediate Release
Tuesday, May26, 2009
For More Information:
Arti Sahni: (609) 984-1671
Four New Jersey Companies to receive Grants
TRENTON, NJ - The New Jersey Commission on Science and Technology awarded total funding of $230,000 to four New Jersey technology companies through the New Jersey Technology Fellowship and the Small Business Innovation Research Bridge Grant programs at its Quarterly Board meeting today.
The Commission awarded total funding of $180,000 for three New Jersey Technology Fellowships in the second year of their Fellowship. 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 graduates from New Jersey research universities. Research undertaken by these fellows will include development of energy saving dynamic windows; novel pharmaceutical products for treatment of medical conditions related to dermal injury, oral health, and wound healing; and the development of a new Infra Red source that can meet or exceed the industry need. The Technology Fellowship program itself has undergone some exciting modification to keep up with the changing environment. Applications for this program will be accepted from candidates who receive their Post Doctoral Degree from any accredited university in the United States. The following companies received this award:
- New Visual Medical Group, LLC
- TRIM-edicine Inc.
- Infosat Inc. DBA K-Lab Corporation
The Commission awarded $50,000 to Princeton Optronics Inc. under the Small Business Innovation Research (SBIR) Bridge Grants. This grant to enables early-stage technology companies to bridge the gap that occurs in federal funding. SBIR is a program that provides federal funding to companies developing technologies that meet a specific federal agency need. Princeton Optronics Inc. will be working on the project titled "High Power, High Repetition Rate, Pulsed, Blue Laser for ASW Purposes".
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.