NJIT joins business research hub with $15M in funding
New Jersey Institute of Technology on Aug. 25 joined seven other universities to create a new regional research hub that will help faculty and students convert federally sponsored research into successful businesses.
Starting in January, the Northeast I-Corps Innovation Hub – funded by a $15 million National Science Foundation grant and led by Princeton University – will provide entrepreneurial training, mentoring and resources to enable researchers to form startup companies that rapidly translate laboratory discoveries into breakthrough products.
Participants will build skills and generate opportunities among researchers from all backgrounds, including those historically underrepresented in entrepreneurship, where NJIT said it excels.
The school has long been part of such transfer in the greater Newark area – as a standalone NSF I-Corps site and through the NJIT VentureLink startup incubation arm – and now brings its expertise to the hub as an affiliate under principal institution Princeton and partner institutions Rutgers University and the University of Delaware.
The other affiliates are Rowan University, Delaware State University, Lehigh University and Temple University.