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For Immediate Release

Tuesday, August 11, 2009

For More Information:

Arti Sahni: (609) 984-1671
 
TRENTON, N.J. - During its quarterly public meeting today, the New Jersey Commission on Science and Technology (CST) announced it has awarded more than $1 million in assistance through CST's New Jersey Technology Fellowship and Entrepreneur Fellowship Programs.  These fellowship awards support Governor Jon S. Corzine's efforts to spur comprehensive economic development and job growth in New Jersey through the Edison Innovation Fund. 
The Commission awarded seven grants to companies under the New Jersey Technology Fellowship Program for first year fellowships and six awards for the second year fellowship award.
 
NJCST's Technology and Entrepreneur Fellowship Programs provide funding for science and technology postdoctoral graduates, as well as MBA graduates, to continue their career development and conduct research in technology companies across the state.  Graduates are matched with technology companies across the state in an effort to retain talent and help companies continue the product development and research activities needed to commercialize their technologies.  Placement in these companies also builds collaboration between the university and the company, and helps transfer technology or university expertise to the New Jersey marketplace.

"The Commission's priorities remain focused on helping New Jersey maintain its high-technology edge through the commercialization of innovative new technologies," Commission Chairman James Coleman, Jr. said.  "This is the first round of awards for the Entrepreneur Fellowship Program, which was designed to bring much needed business expertise to help early stage companies in all facets of their development. We are confident it will be as successful as the Technology Fellowship Program."
 
As part of today's announcement, CST awarded seven first year fellowships and six second year fellowships through the Technology Fellowship Program, as well as two fellowships to the Entrepreneur Program:
 
Technology Fellowship Program
Salary funding levels for technology fellowships are $75,000 for the first year and $75,000 for the second year.  For second year funding, CST awards $50,000 and the applicant company is required to fund the balance of $25,000. 
 
First Year Technology Fellows
  • 3D Biotek, LLC., North Brunswick - to employ Carlos Eduardo Caicedo-Cravajal, receiving his Ph.D. from Rutgers University
  • CytoSorbents, Inc., Monmouth Junction - to employ Humayra Ali, receiving her Ph.D. from Princeton University
  • New Visual Media Group, LLC, Eatontown - to employ Judith Sorge, receiving her Ph.D. from Rutgers University
  • Lifeblood Medical, Inc., Adelphia - to employ Lisa Canto, receiving her Ph.D. from UMDNJ
  • ProFACT Proteomics, Inc., North Brunswick - employ Amita Oka, receiving her Ph.D. from Rutgers University
  • QRx Pharma, Inc., Bedminster - to employ Marc Carmichael, receiving his Ph.D. from UMDNJ
  • Simphotek, Inc., Newark - to employ Kamyar Malakuti, receiving his Ph.D. from NJIT

Second Year Technology Fellows

  • 3D Biotek, LLC, North Brunswick - to employ Marika Bergenstock
  • AlfaGene Biosciences, Inc., Somerset - to employ David Harrison
  • Frontier Performance Polymers, Corp., Parsippany - to employ Veljko Samardzic
  • Niiki Pharma, Inc., Hoboken - to employ Rebecca Baerga
  • Rational Affinity Devices, LLC, Highland Park - to employ Lilian Perez
  • Snowdon, Inc., Monmouth Junction - to employ Oyenike Olabisi

Entrepreneur Fellowship Program

The salary funding levels for entrepreneur fellowships are $65,000 for the first year and $75,000 for the second year.  For second year funding, CST awards $50,000 and the applicant company is required to fund the balance of $25,000.

First Year Entrepreneur Fellows

  • 3D Biotek, LLC, North Brunswick - to employ Irina Briller, receiving her MBA from Rutgers University
  • Switch2Health, Inc., North Brunswick - to employ Goutham Bhadri, receiving his MBA from Columbia University.

In addition, the new NJCST budget was approved and began on July 1, 2009.  The Commission's State Budget allocation for FY 2010 is $10,000,000. This year, a new program is being introduced to complement the Governors' Clean Energy Initiative. NJCST will make available $1,000,000 in grant support for the Edison Renewable Energy Technologies Fund which is designed for companies who do not meet the requirements of the Edison Innovation Clean Energy Fund for the development Class 1 renewable energy sources.

About The New Jersey Commission on Science And Technology

The New Jersey Commission on Science and Technology is dedicated to improving the quality of life for New Jersey's citizens and promoting economic development by keeping New Jersey at the forefront of scientific and technological advances.  Established in 1985, the NJCST is responsible for the development and oversight of policies promoting science and technology research and entrepreneurship. Commission members include business leaders, university leaders, scientists, legislators and representatives from the Governor's Office for Economic Growth and the Commissioner of the New Jersey Department of Education.