Monday, May 31, 2010

NJIT Enterprise Development Center Adds Six New High Tech Companies

“The Enterprise Development Center (EDC) at the New Jersey Institute of Technology (NJIT) (Newark, NJ) is still growing rapidly to be the largest high-tech business incubator in the USA with 95 portfolio companies, despite the tough economy.

Entrepreneurs and individual initiatives in the EDC are working to help NJ solve economic growth problems and make NJ a state leading in technology development and the right place to live and work!,” said Jerry Creighton Sr., EDC Executive Director.

Companies with cutting-edge research that will be commercialized to produce a better electric car battery or develop a new treatment for hay fever recently became new clients at EDC. A total of six new organizations have come on board.

CleverSpoke, Inc. a mobile-service enabler, provides an application platform for voice interaction with messaging.  CleverSpoke is not a text-to-speech or speech-to-text software technology, but combines the best in class technologies with software to deliver a highly-scalable platform. CleverSpoke's product, AutoSpoke, allows for “hands free” communication keeping the drivers’ eyes on the roads and hands on the wheel. Telephone: (732) 309-1003.

Grid Storage Technologies (GST) has developed a proprietary, fully-rechargeable zinc-air battery technology. The focus is on utility-scale energy storage. Telephone: (973) 998-7001

Healthcare Technical Solutions (HTS) assists the healthcare industry to go digital with analysis, implementation, training and support of electronic health records, understanding the stimulus reimbursement process, software application deployment and integration. It also provides instructor-led software training program development and execution, customized web and computer-based e-learning solutions. Clients may include small physician practices, large, multi-doctor specialty groups, outpatient clinics or long-term care facilities, nursing homes with multiple locations, specialty-focused surgi-centers and large hospitals.  

Cyrano Nasal Sciences will commercialize botulinum toxin for the treatment of nasal disorders including allergic rhinitis (hayfever). A single application of botulinum toxin has been shown to treat the symptoms of sneezing, itching, runny nose (rhinorrhea) and congestion for up to five months. Cyrano is actively commercializing this revolutionary treatment. Telephone: 973- 847-8082

M.E.R.I.T., Inc. is a professional, competent and experienced government contractor offering security, construction and safety technology solutions in a quick and cost-effective way. It services private and public institutions. Telephone: (800) 908-6257

WattLots, LLC provides commercial property owners with a revolutionary new Solar Powered Arbor System™ designed to harness electrical energy from the sun in a cost-effective, elegant, architectural parking lot structure. The Power Arbor™ is a uniquely styled parking lot canopy system that is specifically designed to retrofit existing surface parking lots providing substantial quantities of clean, renewable electrical energy where it is needed. By incorporating a number of commercially desirable technologies into a stylish, and attractive architectural shade canopy, the Power Arbor™ is strategically poised to deliver solar, renewable energy to a vast variety of market sectors.   Telephone: (877) 928-8568

EDC is the state’s oldest and largest incubator for technology-based and life-science companies. Part of the NJIT campus in Newark’s Innovation Zone and University Heights Science Park, the EDC is convenient to New Jersey’s largest transportation hub. Since 1988, the EDC has helped entrepreneurs rapidly commercialize promising concepts and reduce start-up risks, while greatly increasing their chances of success. Participation is open to early-stage companies that have a proprietary technology as a significant source of revenue. 

The EDC provides office and lab space, financial assistance, business and  technical services, and the shared business acumen of the Center’s management staff. The EDC has graduated more than 85 successful businesses. Companies now at EDC total 95 and employ over 300 people full-time, along with some 100 student interns. 

In 2009, these companies attracted $58 million in funding and created $40 million in combined revenue. Among these are firms building marketplace success with breakthrough work in areas such as video e-learning, renewable energy, products in the life sciences for medical diagnosis and therapy, information technology, telecommunications, and advanced materials, including nanotechnology.

“EDC is a vital and important source helping young area companies that focus on technology grow into larger, mainstream organizations,” said Judith Sheft, NJIT Associate Vice President of Technology Development. “We’re pleased to see our ranks growing in number as more entrepreneurs and other small businesses seek our services.”

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