The N.J. Economic Development Authority will announce Wednesday that it is investing $25 million in partnership with Nokia Bell Labs to create the state’s latest strategic innovation center — an entity that will be comprised of the NJ Nokia Bell Labs Innovation Center and Bell Labs Venture Studio.
The center will aim to enable startups to accelerate and commercialize intellectual property from Nokia Bell Labs and local universities with an emphasis in the fields of communication, artificial intelligence, cloud computing and optical and wireless networks, officials from both organizations said.
Gov. Phil Murphy, who has made strategic innovation centers one of the keys to his goal of creating an innovation economy in the state, obviously was thrilled.
“For a century, Nokia Bell Labs has been a world-class leader in research and development and our partnership with them sends a clear message that when it comes to technology and innovation, the Garden State is the place to be,” Murphy said. “By providing office and lab space and networking and collaboration opportunities, the NJEDA’s Strategic Innovation Center initiative is helping entrepreneurs grow their business and develop the next generation of life changing technologies.”
Here’s how the two spots break down:
The NJ Nokia Bell Labs Innovation Center: It will be located at HELIX 2, as part of the Health & Life Science Exchange complex going up in New Brunswick. It is expected to open by 2028.
The NJ Nokia Bell Labs Innovation Center will be a 13,500 square-foot co-working office and lab space and offer specialized equipment to support the companies’ ongoing research. The center will provide emerging companies with necessary business training, operating services, physical space, and management guidance to transform their research into commercially viable products and services.
Pending approval by its board, the EDA intends to invest $10 million into the project on a 1:1 basis with Nokia. Additionally, Nokia plans to partner with at least one of the state’s engineering schools, which will allow the companies at the center to benefit from various university resources.
The Bell Labs Venture Studio: It initially will be located at Nokia Bell Labs’ Murray Hill campus. It is expected to open mid-year and will be later housed within the NJ Nokia Bell Labs Innovation Center.
The Bell Labs Venture Studio will be operated by the Nokia Ventures team. Over a five-year period, the studio will facilitate company creations that are expected to generate hundreds of highly skilled jobs in the state.
The venture studio will provide entrepreneurs and researchers with necessary business training, operating services, and management guidance to transform their research into commercially viable products and services.
The venture studio will also assist its ventures with access to a network of academic, corporate, and venture partners to accelerate venture growth. Pending approval by its board, the EDA intends to invest $15 million into the project on a 1:1 basis with Nokia.
EDA CEO Tim Sullivan said the state’s latest strategic innovation center (there are now more than a half dozen) will have great impact.
“Bell Labs has long been at the forefront of cutting-edge innovation and this partnership will help bring new technologies to the marketplace and bolster New Jersey’s innovation ecosystem,” he said.
“Since he took office, Gov. Murphy has been committed to reestablishing New Jersey as a national leader in innovation and he has invested resources to help entrepreneurs grow and scale their business. Powered by the EDA’s Strategic Innovation Center initiative, the NJ Nokia Bell Labs Innovation Center and New Jersey Bell Labs Venture Studio will foster the development of state-of-the-art technology, create new jobs, and drive long-term economic growth.”
Nishant Batra, Nokia’s chief strategy and technology officer, said the center matches the mission of the company.
“Nokia Bell Labs has a long-standing commitment to innovation and excellence in New Jersey,” he said. “Our partnership with NJEDA to launch the Bell Labs Venture Studio and the NJ Nokia Bell Labs Innovation Center is a testament to our dedication to fostering cutting-edge research and supporting the growth of startups in the state.
“By collaborating with academic institutions and leveraging our intellectual property and state-of-the-art facilities, we aim to drive technological advancements and bolster New Jersey’s innovation economy.”
Nokia Bell Labs Solutions Research President Thierry Klein agreed.
“Bell Labs has proudly called New Jersey home for most of our 100-year history, and we are thrilled to launch the Bell Labs Venture Studio in partnership with NJEDA in 2025, as we celebrate our centennial anniversary,” he said.
“The Bell Labs mission has always been to create ground-breaking technologies that have a demonstratable impact on society and industry. This initiative will not only create new opportunities for emerging startups in New Jersey but also unlock the potential of groundbreaking innovations, and reinforce our legacy of pioneering breakthroughs in communication, AI, and other transformative technologies.”
SICs are facilities that support research and development, innovation, and entrepreneurship through mentorship, networking opportunities, hands-on training, business support services, and education opportunities. SICs can be accelerators, incubators, or research centers.
Having a physical location where entrepreneurs can collaborate will help support new, diverse innovators and help drive long-term economic growth.
Assembly Speaker Craig Coughlin, based in Middlesex County, said he’s thrilled the center is coming to the HELIX.
“This announcement marks another exciting milestone for the HELIX and New Jersey’s innovation economy, strengthening our communities and reaffirming our state’s position as a leader in cutting-edge industries,” he said.
“Through this partnership, we are driving economic growth and creating opportunities for local scholars, entrepreneurs, and businesses to prosper. It was legislation, the Economic Recovery Act of 2020, that shows world-class companies like Nokia that New Jersey is ready to partner with the private sector to make smart, strategic investments in the jobs of the future. I am proud of our progress and look forward to the lasting impact it will have for generations to come.”
