NJ Council On Innovation Unveiled

In an attempt to help industry and academia work better together New Jersey Lt. Governor Kim Guadagno today announced the formation of a new Council on Innovation to advise the State’s Partnership for Action.

The goal is to improve New Jersey’s economy and attract more federal funding. Secretary of Higher Education Rochelle Hendricks is the newest member of the New Jersey Partnership for Action.

"Today we solidify the strong relationship that already exists between business and academia in New Jersey to ensure future generations benefit from this alliance," says Guadagno. "As the partnership continues to expand with the addition of Secretary Hendricks, so do the opportunities for both students and businesses to set down roots and find success in the Garden State."

Creation of the Council is among 15 recommendations in a report released today by New Jersey Policy Research Organization (NJPRO) and InnovationNJ.

The report, Building Bridges II: Breaking Down Barriers, recommends policy changes that would create an “innovation ecosystem,” making it easier for industry and academia to collaborate on new ideas and inventions.

“We need to be efficient and effective to win the competition to market commercial ideas and products,” explains Hendricks. “Many of our academic institutions are already doing ground-breaking research. With improved collaboration among state agencies, colleges and businesses, that research can be directly connected with the economy, helping our institutions continue to compete on a national and global scale.”

Recommendations contained in the report include:

• Cutting red tape by creating standard agreements governing intellectual property rights and collaboration between entities.
• Identifying areas of expertise within New Jersey’s colleges and universities that can form the basis for Centers of Excellence. Designation of a single center of excellence for a topic would provide guidance to interested parties searching for a research partner.
• Having a chief administrator at each college and university who will serve as a one-stop shop coordinator for businesses to connect with university information and resources.