The New Jersey Economic Development Authority (NJEDA) board recently approved a $12.55 million commitment to two Strategic Innovation Centers (SICs) focused on medical technology and maternal health, facilitating startup creation and bolstering New Jersey’s innovation ecosystem.
The New Jersey Accelerator for Innovation in Medtech (NJ AIM), a multilocation SIC in Camden and Mullica Hill, will support the research, development, and commercialization of novel medical technologies and devices.
The New Baby New Jersey SIC, which will be in Trenton’s Maternal and Infant Health Innovation Center (MIHIC), will assist early-stage companies in advancing groundbreaking maternal and infant health solutions.
“Throughout the Murphy administration, New Jersey has invested heavily in creating environments where entrepreneurs can thrive, opening pathways to capital, encouraging collaboration and leveraging the strength of the state’s academic institutions and private sector partners,” said NJEDA Acting Chief Executive Officer Mary Maples.
“The NJEDA’s latest investments into NJ AIM and the New Baby New Jersey SIC further establish the state’s leadership in the medtech and maternal health sectors, advancing scientific breakthroughs, creating jobs and bolstering the regional economy.”
The NJ AIM and New Baby New Jersey SIC programs, managed by Plug and Play, will include a combination of services, including workshops, mentorship sessions, business development services, education opportunities, access to unique equipment and industry partners, and investment opportunities.
The NJEDA will commit up to $5.5 million to invest in NJ AIM and New Baby New Jersey SIC companies and $2.25 million, matched by SIC partner Rowan University, to support the accelerator programs.
Additionally, the NJEDA will invest $1.5 million in a new venture studio operated by NLC Ventures, a leading global venture builder in health technology, which will support the development of new medtech and maternal health companies in the state.
The NJEDA will also reserve $3 million for an early-phase maternal and infant health pre-venture development and early-stage initiative located in Trenton to include programmatic and technical support administered by a third-party.
The NJ AIM SIC will encompass 8,500 square feet of space within two locations in Camden: the Joint Health Sciences Center and the Cooper Medical School of Rowan University. It will also have space on Rowan University’s West Campus in Mullica Hill, alongside the Shreiber School of Veterinary Medicine when open.
The SIC will include comprehensive laboratory, diagnostic and testing spaces for research and development of new technologies in a collaborative environment. Cooper University Health Care will serve as the anchor commercial affiliate, and the Rowan Foundation will invest in select participating accelerator companies.
The New Baby New Jersey SIC will include 5,000 square feet of space within the MIHIC.
In collaboration with public and private stakeholders, the location will provide first-in-class research and development focused on maternal health care, driving breakthrough solutions in maternal care equity, digital health, doula support, perinatal mental health and public benefits access.
“We’re incredibly proud to be part of this pivotal moment in New Jersey’s innovation journey. The accelerator is more than a program; it’s a launchpad for bold ideas that have the power to reshape maternal health across our state,” said Lisa Asare, CEO of the New Jersey Maternal and Infant Health Innovation Authority (NJMIHIA).
The NJEDA has also announced investments into 12 SICs in New Jersey, focused on industries such as artificial intelligence, fintech, aerospace, life sciences and biotech.
