The newly-formed New Jersey Social Innovation Institute is looking to match good ideas with non-profit organizations in an effort to create jobs while improving social problems.

The group has partnered with the PSE&G Foundation, the State Department of Labor and others to turn these ideas into reality.

“An example of an idea would be a bakery that actually hires people who have previously been incarcerated or people who have had challenges finding work,” said Jeffrey Robinson, a Professor at the Rutgers Business School. “The non-profit would train those people not only creating jobs in the state, but addressing some of the issues that need to be addressed.”

“How do we create businesses that can work with folks who’ve had issues in the past?” said Robinson. “Those are the types of ideas we’re looking for.”

“We want to take those innovative ideas and turn them into social businesses and social enterprises,” said Robinson. “It’s not necessarily a new idea, but in our state, we’re looking to highlight it, promote it and create ventures that will have a positive impact on the economy.”

People who are interested in applying to become part of the institute can go to njsesummit.org. Applications are being accepted through the end of November. 16 teams will be selected and will undergo training from January through June. The selected business plans will then be presented to investors in June 2012.