Southern New Jersey's potential to attract and grow new business has been augmented by a three-year, $390,000 New Jersey Commission on Science and Technology grant to the Rutgers-Camden Technology Campus.
The award will allow the Rutgers-Camden business incubator to provide high-tech support and in-depth strategic counseling to help fledgling businesses realize their potential for growth. The NJCST grant will support efforts to attract new clients to the Rutgers-Camden Technology Campus; to help existing clients advance their businesses; and to enhance New Jersey's image as a destination for business incubation.
In addition, the Rutgers-Camden initiative recently received a $125,000 grant from the Delaware River Port Authority to support its job development and outreach efforts. The DRPA grant is renewable on an annual basis.
Launched in 2001, the Rutgers-Camden Technology Campus provides entrepreneurs with low-cost services and funding connections to help launch and grow their business ventures. Located in an underutilized Virtua-West Jersey facility in Camden, the incubator currently has 47 clients employing approximately 120 workers who earn a collective annual payroll of more than $5 million.
During the summer, the Rutgers-Camden Technology Campus will relocate to a new state-of-the-art Camden facility, the Waterfront Technology Center, which will also provide services to nascent businesses requiring wet laboratory space.
Since its inception, the Rutgers-Camden Technology Campus has graduated four businesses, including manufacturer Cerionx (formerly Microplate Automation), which received $3 million in venture funding. The company now is based in Pennsauken.
(similar article in the Courier Post)
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