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New Jersey Innovation Institute

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In 2014, the New Jersey Innovation Institute (NJII) was formed as an NJIT corporation to act as the organizational centerpiece of the New Jersey Institute of Technology’s (NJIT) economic and technology development mission. NJII’s unique design and program scaffold serves as an agile, market-facing interface designed to transform intellectual capital into commercial success. Whether it’s working to solve the grand challenges shared across an entire sector or helping a single company find an innovative way to pursue a new product or market opportunity, NJII brings world-class intellectual and technological resources to bear.

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New Jersey Innovation Institute

  1. 1. NJII Awards of Excellence Presentation to:
  2. 2. The Challenge… The innovation ecosystem has lost coordination and coherence • Corporations no longer the coordinating body • Product development occurs in startups and OEMs • U.S. industrial system finding value created in loosely- connected, non-hierarchical industrial networks that systematically combine public and private assets • Gaps appear in the economic development portfolio • Need to deliver design capabilities that make complex collaborations quick, agile, and strategic • Next generation models need to accelerate “innovating industrial networks”
  3. 3. The Challenge… Fragmented Value-Creation • In 1970s, non-essential business units outsourced • R&D resources re-directed to business units for enhancements to existing products and processes at expense of long-term exploratory projects • Corporations narrow their focus to core competencies Greater system coherence involves creating platform organizations that serve as intelligent enablers for coordinated action!
  4. 4. The Solution… THE NEW JERSEY INNOVATION INSTITUTE •A market-facing non-profit designed as a collaborative platform with capability to apply the intellectual and technological resources of New Jersey’s world-class universities to challenges identified by the region’s innovation stakeholders •Delivering a set of powerful, agile, and customizable solutions to intelligently coordinate and enable “innovating industrial networks” across a range of vertical sectors
  5. 5. NJII History… • Formed in 2014 by New Jersey Institute of Technology (NJIT) as a 501c3 • Organizational centerpiece of NJIT’s economic and technology development mission • NJIT’s existing economic & tech development portfolio (~$30M) • Market-facing interface designed as a holistic organization platform to transform intellectual capital into commercial success • Builds deep, sustained relationships built on trust and value • Action oriented and focused on results
  6. 6. The NJII Mission… NJII’s comprehensive approach engages industry through a range of product and process innovation services that include: Innovation as a Service Ideation •Design laboratories, ideation, and agile strategy services Platforms, Test Beds, & Prototyping •Sponsored applied research and technology development projects •Engineering services •Commercial testing, pilot scale-up and prototyping platforms •Process optimization, technical assistance Technology Commercialization •Financial modeling, business valuation, capital access •Cost reduction, process re-engineering, quality improvement •Professional services — legal, IP, commercialization •Entrepreneurial training & Incubation Partnering & Client Engagement (front-end relationships) Structure as a Service (back-end services)
  7. 7. The NJII Structure… NJII’s current impact stems from Innovation Labs and CoreLabs that focus on industry sectors and cross-cutting, concierge functions: •  iLabs – Healthcare Delivery Systems – Biotechnology and Pharmaceutical Production – Civil Infrastructure & Smart City – Defense & Homeland Security – Financial Services • CoreLabs – Data Analytics – Cluster and Economic Development – Technology and Enterprise Development – Advanced Manufacturing
  8. 8. The NJII Strategy… NJII harnesses powerful economic and technology development solutions to: •Improve existing products and services •Create new products or services •Identify new markets for existing capability, products and services •Develop new business NJII employs an approach to agile strategy called Strategic Doing…a discipline incubated at Purdue University, specifically designed for open, loosely- connected networks. It helps accelerate productive collaboration and strategy  development, either across organizational units or among multiple  organizations.    
  9. 9. Advancing development through collaboration… NJII: •Deploys agile strategy techniques to form precompetitive technology development partnerships within NJ •Creates new industry clusters and regional innovation ecosystems •Accelerates productive collaboration and strategy development, either across organizational units or among multiple organizations. •Improves innovation capabilities and the design of value propositions within companies •Hosts deep, sustained institutional relationships with industry partners premised on a value proposition offering access to talent, technology and opportunity •Provides opportunities for professional experience to large numbers of undergraduate and postgraduate students
  10. 10. NJII Results… • 40 large industrial partners 6 Collaborations with other research universities • 7 Regional collaborations   Joint Base McGuire-Dix           Morris County Chamber                      Cape May
  11. 11. NJII Results… • 8 precompetitive industry partnerships • 4 Innovation partnerships with NJIT academic units • 90+ Entrepreneurship startups in residence • 302 Students employed • $60M Annual NJII expenditures  
  12. 12. Summary… NJII provides organizational and collaborative platforms, coupled with a robust solutions network, anchored by the New Jersey university system, to help private organizations navigate the innovation ecosystem and form meaningful partnerships to impact production in the NJ industrial economy.  

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