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Innovation Engine article

  1. 1. New Jersey Invests in Clean Energy Entrepreneurism Page 4 interactive The Business Behind the Technology Sectors of New JerseyCollaboration is Keyat Stevens—A National Centerof Research Excellence
  2. 2. Stevens students learn the cutting-edgetechnical solutions & effective paths tocommercializing technology.Founder Edward A. Stevens was raised in a family of inventors andentrepreneurs who transformed their inventions into a number of successfulenterprises, including the first steam-driven locomotive in the U.S. in 1826.Stevens commitment to innovative and entrepreneurial results has produced illustri- Programs deliveredous graduates like Frederick Taylor and Henry Gantt and is continuing to produceworld class technologists and engineers from continuous engagement with thousands on campus in Hoboken,of alumni, students and faculty. online, or at your corporate location.Stevens offers a comprehensive curriculum in Entrepreneurship, including anEntrepreneurship Minor and a unique undergraduate program in Business &Technology. Stevens undergraduate students must also complete a Senior DesignProject with gives them the opportunity to create new technology and explore how itcan best be commercialized. Stevens also offers a broad array of graduate levelprograms in Technology Management, including a Master of Science inManagement with Technology Commercialization Concentration and a Graduate Sharen.Glennon@stevens.eduCertificate in Entrepreneurial Information Technology. 201-216-5381Stevens has been at the forefront of innovation andentrepreneurship since the late 1800s.http://Howe.Stevens.eduH O W E S C H O O L O F T E C H N O L O G Y M A N A G E M E N T
  3. 3. New Jersey TechNews July/August 2009 • VOL. 13 NO. 6 New Jersey Technology Council & The Education Foundation PRESIDENT’S MESSAGE 1001 Briggs Road, Suite 280 New Grant Programs Mount Laurel, N.J. 08054 phone (856) 787-9700 fax (856) 787-9800 PUBLISHER Maxine Ballen • for Small Tech Companies W VP OF PUBLICATIONS Leo M. Mennitt • hen the American Recovery and Reinvestment Act of 2009 was approved by Congress and signed into law SENIOR EDITOR by President Barack Obama in February, all of us in the Bari Faye Siegel • business community were hopeful that some of the GRAPHIC DESIGNER funding would trickle down to the companies committed Bonnie Jacobs • to innovation in the science and technology sectors. It’s exciting to learn MULTIMEDIA PRODUCER that, in fact, this is coming to pass! Rachel Nicometi • In fact, there are two new grant programs that may prove to be very helpful for high-tech small businesses – both are aimed at accelerating innovation. The Small Business Catalyst Awards for Accelerating Innovative Research is a new grant program from the National Institutes of Health (NIH). If your company is focused on addressing major biomedical or behavioral challenges with the potential for downstream commercial development, you owe it to your team to find out about this program. This grant application is due Sept. 1, 2009. A second program that may be of interest is the Biomedical Research, Development, and Growth to Spur the Acceleration of New Technologies (BRDG-SPAN). This program also seeks to accelerate the transition of research to the development of products or services that will improve human health and create economic growth. The grant program is intended to help address the funding gap, often called the “Valley of Death,” between research success and the introduction of new products to the market. My favorite part of this program is that it aims to foster partnerships among a variety of research collaborators. This grant application is due Sept. 1, 2009. For more information about these grants and other recovery act initiatives, visit recovery. Also, in the interest of collaboration, don’t forget to check out the NJTC Calendar of Events often and join us for an upcoming program. You never know, you just might meet your next strategic partner or valuable client. For interactive elements, —Maxine Ballen, NJTC President & CEO visit LEGEND TO ICONS AUDIO FILE PODCAST VIDEO PHOTOS On the Cover 6 Stevens Institute of Technology: New Jersey’s Technogenesis® Powerhouse WEBINAR MORE By Patrick A. Berzinski WEBCAST RSS FEED Stevens Institute of Technology prides itself on its collaborative, entrepreneurial R&D-and- learning environment, called Technogenesis. It is an intellectual frontier — where faculty, BLOG students and industry jointly nurture research technology concepts to commercialization.New Jersey TechNews is published by the New Jersey Technology More than traditional technology transfer, it is part of the Stevens educationalCouncil and The Education Foundation. We are located at 1001 experience and creates a climate of innovation and enterprise across the campus.Briggs Road, Suite 280, Mt Laurel, N.J. 08054. ©2009 NJTC.All rights reserved. Reproduction or use, without permission, ofeditorial or graphic contents in any manner is prohibited. To obtain Featurespermission, contact editor Bari Faye Siegel at 10 NJTC Calendar of ProgramsNew Jersey TechNews is published 10 times a year and is free toall NJTC members. Unqualified subscribers pay $29.99 per year, 4 Green World$39.99 for two years. Reprints are available for a fee upon request.For more information on the New Jersey Technology Council, see New Jersey Invests in Clean 12 NJTC Photo Energy EntrepreneurismTo contact a staff member, see the staff box for email addresses. 13 NJTC Government AffairsSubmissions for New Jersey TechNews are welcome. All editorialcopy published is at the discretion of the editor. Send submissions 5 NJTC IT Industry Survey: N.J.’s Outer Continental Shelf:to The views expressed in New Jersey TechNews do Tech Sectors Remain “Vibrant,” Great Promise fornot necessarily reflect those of the New Jersey Technology Council orNew Jersey TechNews. Despite Challenges Energy IndependenceAdvertising information: Leo Mennitt at 856-787-9700 x227 By Bari Faye Siegel By Eric E. Martins, Duane MorrisSubscription information: www.njtc.orgPostmaster: Send address changes to: 14 NJTC New MembersNJTC, 1001 Briggs Road, Suite 280, Mt. Laurel, N.J. 08054. TechNews | | July/August 2009 3
  4. 4. Green World New Jersey Invests in Clean Energy Entrepreneurism NJ EDA Launches Clean Energy “The coordination among various state agencies to support energy efficient and renewable energy in New Jersey has helped to establish the Solutions Capital Investment state as a national leader,” said Jeanne M. Fox, president of the New Jersey Board of Public Utilities. “Our coordination is a direct result of the clear Loan/Grant Program vision and goals established under Governor Corzine’s Energy Master Plan, and additional EDA/BPU partnerships to support clean energy projects in New Jersey that will be unveiled throughout the summer.” A new funding resource in support of Gov. Jon S. Corzine’s commitment This latest product complements the state’s existing clean energy to promoting economic development and a more secure environmentally programs to promote economic development, including the Clean Energy responsible energy future for New Jersey was unveiled last month. Known Manufacturing Fund. Businesses interested in Clean Energy Solutions as the Clean Energy Solutions Capital Investment (CESCI) Loan/Grant, the opportunities should visit in the coming weeks for more new program was developed to encourage and promote energy efficiency information on upcoming products, including a new performance-based measures within the commercial and industrial sectors and encourage the grant program to assist combined heat and power facilities to complement use of renewable energy while supporting the goals of the Gov. Corzine’s the CESCI program, which will be offered in partnership with the Board of Energy Master Plan. Public Utilities. “Our new financing product will expand the state’s national leadership role in establishing a green economy by ensuring companies have the Edison Innovation Clean Energy Fund ‘green’ resources they need to sustain, grow and prosper in New Jersey,” The Edison Innovation Clean Energy Fund is a unique funding opportunity said Caren S. Franzini, chief executive officer of the New Jersey Economic that arose from collaboration between NJ Commission on Science & Development Authority (EDA). Technology and the Board of Public Utilities (BPU). It will provide funding in Additionally resources will be unveiled over the next several months the amount of $100,000 to $500,000 to New Jersey technology companies, as part of the state’s Clean Energy Solutions portfolio, which includes for demonstration projects and developmental and partnerships with the Board of Public Utilities ancillary activities necessary to commercialize (BPU) and the Department of Environmental identified renewable energy technologies and Protection (DEP). innovative technologies that significantly Gov. Corzine’s Energy Master Plan is one of increase energy efficiency. This grant will fund the most aggressive in the nation, and is aimed technologies that can demonstrate their at reducing energy consumption by 20 percent and integral nature to the development Class 1 generating at least 30 percent of the state’s energy from renewable energy technologies that produce renewable sources by the year 2020. or support the production of renewable or The CESCI Loan/Grant program will support commercial, clean electricity generation. institutional or industrial entities advancing energy-efficient Funding of demonstration projects will be end-use projects, combined heat and power (CHP or cogen) open to proposals that seek funding for research, production facilities, or construction of state-of-the-art, market development, deployment, and technology efficient electric generation facilities, including Class I and demonstrations of innovative products or services that Class II renewable energy. CESCI will provide zero-interest loans advance the delivery of renewable energy and and grants up to $5 million to eligible commercial, energy efficiency technologies. The proposal industrial or institutional customers, with up to should demonstrate how any research 10-year loan term to fund purchase of fixed-assets conducted will contribute to proving the (including real estate or equipment). scientific or technical feasibility of the The loans and grants offered through CESCI approach or concept proposed. are capitalized through the Regional Greenhouse Companies that are awarded the Edison Gas Initiative’s Global Warming Solutions Fund, in Innovation Clean Energy Fund by NJCST can partnership with the DEP. receive up to 20 percent of the approved NJCST “Using global warming funds to promote energy grant, not to exceed $100,000, from the NJEDA in sustainable projects presents the DEP and the EDA with a equity-like financing for non-R&D related costs. The unique opportunity to strengthen New Jersey’s economy application for this fund is Sept. 4, 2009. while creating a cleaner and greener environment,” DEP Acting Commissioner Mark N. Mauriello said. MORE Download the Edison Innovation Clean Energy Fund Application.4 TechNews | | July/August 2009
  5. 5. NJTC IT Industry Survey: Tech Sectors Remain “Vibrant,” Despite ChallengesBY BARI FAYE SIEGEL was initiated by the NJTC in collaboration Quebec, one of the partner organizations. with 10 similar organizations from around the The results of the study were also releasedThe New Jersey Technology Council announced world including Canada (Quebec), UK, Ireland, in Montreal by Gagnon, who said that a totalthe results of the long-awaited Fourth Annual and others in the European Union, Africa, of 185 companies responded, of which 85 fromInformation Technology Industry Survey at the Central and South Americas, Asia, and Middle New Jersey. The survey was co-designed byPSE&G Training and Development Center in East (EU/AAAME). Gagnon and Prof. Katia Passerini from the NewEdison in June. Overall, the survey identified a A web-based methodology was adopted, using Jersey Institute of Technology.number of technologies, markets, and financial a brief 15-items questionnaire administered to While several issues were addressed, rangingtrends that reveal the diversity of economic members of IT industry associations in various from financial to technology decisions, at leastcontexts, but also the great similarities in countries. “For each partner organization, five key findings emerged from an internationalstrategic responses internationally. membership represented about 10 to 20 percent of comparison across the years 2006-2007-2008. The Survey, whose objectives are to identify local companies, and the response rate was about One thing is for certain, “The IT industrybusiness trends and challenges facing IT five to 20 percent of surveyed members, providing remains vibrant in spite of its many businesscompanies, and compare strategic responses representative, significant, and reliable results,” challenges, mainly owing to its innovative drivein various business environments/climates, said Prof. Stephane Gagnon of the University of and ability to renew itself rapidly,” Gagnon said. See Survey, page 9 TECHNOLOGICALLY, WE DELIVER. What does the Amper Technology Group deliver? Innovation, insight, strategic thinking. All from an accounting firm dedicated to exceeding your expectations. With Amper, expect more. Seeing beyond the numbers. CONTACT: Phil Politziner Alan Wink - Technology Rich Cleaveland - CleanTech Brian Downey - Technology John Pennett - Life Sciences 1.866.99.AMPER TechNews | | July/August 2009 5
  6. 6. Stevens Institute of Technology New Jersey’s Technogenesis® Powerhouse BY PATRICK A. BERZINSKI Stevens Institute of Technology prides itself on its collaborative, In December 2005, Stevens’ officials concluded the $17.5-million entrepreneurial R&D-and-learning environment, called Technogenesis. acquisition of the Technogenesis startup PlasmaSol by Stryker Corporation. Technogenesis is the intellectual frontier, pioneered Stryker’s initial plans were to use by Stevens, where faculty, students and industry PlasmaSol’s non-thermal plasma jointly nurture research technology concepts to technology to sterilize medical devices, commercialization. It is more than traditional technology transfer; it is part of the Stevens “We want to be known among other potential biomedical applications. Also in 2005, Stevens educational experience and creates a climate of launched four new Technogenesis innovation and enterprise across the campus. as the go-to university startup companies including Atilla At Stevens, examples abound of students, Technologies. These acquisitions and professors and companies working together – researching, developing and launching new for innovative startups were a major affirmation of Stevens’ vision of Technogenesis. businesses based on the intellectual property of the institute in concert with its external partners. technologies and ideas.” For a technology to prove successful, it must have unique, patent-protected Dr. Vikki Hazelwood, a professor in the Chemistry, attributes that give it a competitive Chemical Biology and Biomedical Engineering — Dr. Christos Christodoulatos, advantage. To identify and manage Department, is expert at shepherding projects promising new technologies, Stevens through the Technogenesis process. She brings associate provost of hired in 2008 a new vice resident for the together engineering researchers and clinical care Academic Entrepreneurship Research Enterprise, Dr. Joseph Mitola providers to successfully move these projects “from III; created a post for an associate bench-top to bedside.” provost of Academic Entrepreneurship, Along the way, “I work with the students and occupied by longtime Stevens make sure they collaborate with the physicians. Their worlds are so researcher and entrepreneur, Dr. Christos Christodoulatos; different, they have to learn to communicate,” she says. and in June 2009 hired Malcolm One of revolutionary products she has been working on with students Kahn as vice president for Enterprise eliminates unnecessary surgery by finding the overlooked source of back Development & Licensing. and neck pain. The product, which has been featured on CBS-TV, NBC’s In this capacity, Kahn will be Today Show and ABC’s Good Morning America, is the basis for the responsible for the full cycle of Technogenesis start-up company, SPOC, Inc., which is now headquartered business development at Stevens, in Stamford, Conn. from helping researchers and staff SPOC was formed in 2005 by the office now overseen by Stevens’ vice identify markets and technology president for Enterprise Development & Licensing. The co-founders are the applications, to the spawning, technology inventors, Dr. Norman Marcus, a leading expert in the field of development and funding pain management, and biomed engineering undergrads Jeckin Shah, Ryan of Stevens’ Technogenesis® Stellar and Daniel Silva. SPOC was conceived at Stevens as a senior design Companies. He will also be project in Hazelwood’s Biomedical Engineering senior-design class. working on establishing a SPOC incorporates two technologies, one of clinical methodology and one of device technology, for a combined diagnostic package that allows See Technogenesis® for a revolution in the accuracy and precision of muscle pain diagnosis. In Powerhouse, page 9 2008, the SPOC device received FDA 510K clearance for manufacture and marketing as a clinical device. Final FDA approval for use of the device as a diagnostic tool is pending. The potential market for the device is ultimately in the region of hundreds of millions of dollars. Technogenesis reached a commercialization plateau during 2005. That year saw the first sale of a Technogenesis start-up company, HydroGlobe, which developed water-filtration technologies to remove toxic metals from drinking water. It was sold to Graver Technologies, part of the global Marmon Group, for $5 million plus a royalty fee and ongoing royalties. The HydroGlobe technology has since found its way into the most commonly used household water filtration devices. TechNews | | July/August 20096
  7. 7. A National Center of Excellence on the HudsonBY PATRICK A. BERZINSKIFrom the invisible microcosm of nano-engineering Stevens has also been successful in delivering Institute of Technology and the Centralto the burgeoning macrocosm of complex space- graduate courses in China. These courses are University of Finance and Economics.based systems, educational offerings at Stevens delivered partly online and partly on-site and are Stevens Institute of Technology InternationalInstitute of Technology are among the most presented in collaboration with the Beijing (SITI), which represents the first establishment offorward looking in the United States. Stevens’ location — along the Hudson River,across from the finance and business capitalof the world, New York City — as well asits highly selective admissions policy and itshealthy student-to-faculty ratio impart a rareagility to the institution, allowing for the swift Current and Future Innovationsadoption and perfection of relevant, cutting-edge curricula. The innovative Stevens undergraduate Explored During Stevens’ R&E Dayprograms launched in this century includeBiomedical Engineering, Business & Technology BY ALAN S. BROWNManagement, and Cyber Security. The universityhas now instituted an undergraduate minor Stevens’ second annualin Green Engineering, carrying forward the Research and Entrepreneurshippioneering commitment to environmental quality Day highlighted the top-tierfor which Stevens is renowned. technology university’s avowed In 2007 Stevens initiated two new schools spirit of “Technogenesis®.” Theat its Hoboken campus — the first, the School word is a registered trademarkof Systems & Enterprises (SSE), followed by the of Stevens, defining the highlyCollege of Arts & Letters. SSE is the outgrowth of entrepreneurial research andthe Stevens Department of Systems Engineering education environment that& Engineering Management, which grew with encompasses collaboration byrapid success to become one of the largest such students, faculty and industryprograms in the United States after its formation partners, who work together toin 2000. SSE provides exclusive professional advance laboratory conceptscourses at home and abroad, serving industry toward significant marketplaceand government agencies in the United States, applications.Europe, South Asia, and the Far East. Dr. Christos Christodoulatos, The school also provides advanced systems associate provost for Academic Dr. Kishore Pochiraju investigates an intelligent robotic vehicle engineering education to the United States’ Entrepreneurship and director built by a student team.National Security Agency, the Federal Aviation of the Center for EnvironmentalAdministration (FAA), and the National Systems, believes Stevens hasAeronautics and Space Administration (NASA), been quite successful in differentiating itself from other academic institutions.among other agencies. “While most science and engineering schools emphasize research and education, Stevens The Stevens College of Arts & Letters was places equal weight on entrepreneurship,” said Christodoulatos.founded in recognition of the importance of This is the essence ofthe arts and humanities in the spectrum of Technogenesis: Students nottechnological studies. Programs in Art, Music only learn to develop new& Technology and the History & Philosophy of technologies, they createScience are now permanent features of the innovations that have practicaluniversity’s undergraduate curriculum. uses. Stevens’ success in inculcating these values is one of the reasons that ForbesPioneering Global Education magazine ranked it thirdStevens provides an award-winning online among 189 colleges for returneducation component,, on research investment.which reaches students around the world with The Department ofdozens of rigorous graduate courses in science, Defense’s only university-engineering, and systems and technology affiliated research center in themanagement. field, the Systems Engineering Professor Rainer Martini points the direction travelled by hisSee National Center, page 8 See Stevens’ R&E Day, page 8 mid-infrared lasers on the roof of the Burchard Building. TechNews | | July/August 2009 7
  8. 8. National Center Stevens’ Wesley J. Howe Center with a spectacular view of Manhattan continued from page 9 a university outside the United States based on in the U.S. to be the Stevens model, is located in Santo Domingo, designated by the Dominican Republic, and is strongly endorsed by National Security that nation’s innovative president. Agency (NSA) as a President Harold J. Raveché of Stevens National Center of Institute of Technology has also initiated talks Academic Excellence with the South Korean government to establish in Information a university on the Stevens model in the fast- Assurance Research expanding port city of Pyeongtaek, located just for academic years southwest of Seoul. 2008-2013. Founded in 1870 on a 55-acre estate in The spirit of Hoboken, N.J., Stevens Institute of Technology has entrepreneurialism grown to become one of the leading technological that invigorates universities in the world dedicated to learning all aspects of the Patrick A. Berzinski is the director of university A and research. It offers broad-based curricula environment at Stevens communications at Stevens Institute of designed to nurture creative inventiveness and is a vibrant legacy of the Stevens family, whose Technology. For additional information about cross-disciplinary communities. members played key leadership roles in both Stevens Institute of Technology, visit www. Stevens is in the forefront of global challenges the American War of Independence and the in engineering, science, complex systems, American Industrial Revolution. Their concept of and technology management. Partnerships an intensive, broad-based technology education, and collaborations with business, industry, meant to create highly competitive leaders for government, and other universities contribute to the enriched environment at Stevens. American industry, is enshrined at the university that Edwin A. Stevens bequeathed to the nation. Stevens’ R&E Day In addition, Technogenesis®, the mature At the dawn of the 21st century, that spirit model created by Stevens for technology emboldens young leaders to tackle the next commercialization in academe, involves American century of globally based competition. external partners working with undergraduates continued from page 9 and faculty to develop and launch technology Innovating Cross-Disciplinary enterprises that create broad opportunities and shared value. Communities Research Center (SERC) is located at Stevens. In 2007, leaders at Stevens propounded a long- Dinesh Verma, dean of the School of Systems In recognition of its continuing successes, and Enterprises, spoke about the center and Stevens has been ranked by at No. 3 range Strategic Positioning Plan that serves as a topographical guide to the “New University of its applications for systems engineering. among 189 U.S. research universities for the high “Systems engineering is a practice- percentage of return on its research investment. the global-technological era.” The establishment of “communities of creative enterprise” across oriented field that has been starved of the spectrum of disciplines is the centerpiece fundamental research,” said Verma. “SERC National Centers of Excellence on of this plan. The continued growth of Stevens is collaborating with 17 other universities the Hudson as a graduate research institution is also to fill in the blanks. Our vision is to develop Stevens received an award in 2008 as the carefully balanced with the recognition that transformational systems engineering first Department of Defense-funded University the undergraduate engineering program is the methods, processes and tools.” Affiliated Research Center (UARC) focused on university’s beating heart, which nourishes all Michael Bruno, dean of the School of Systems Engineering Research, embodied in the other endeavors. Engineering & Science, described the Stevens Stevens’ Systems Engineering Research Center The Strategic Positioning Plan identifies three National Center of Secure and Resilient (SERC), which will be based both in Hoboken major focus areas of education and research Maritime Commerce and Coastal Environment and at a strategically located headquarters in for the next century — complex systems and (CSR). Its mission is to improve port and Washington, D.C. Stevens’ principal partner in the enterprise management and architecture; coast security and emergency response when SERC is the University of Southern California. security technologies, including for maritime, faced with natural hazards and terrorists. Also in 2008, Stevens was chosen by the cyber, information, and communications More than 100 professionals are involved in Department of Homeland Security as one of networks; and multi-scale engineering, science, CSR’s projects. 11 U.S. research universities to establish five and technology. “The organization has developed a layered National Centers of Excellence in Homeland Cross-disciplinary communities of faculty, approach to maritime domain awareness,” Security Research. Based on this designation, students, and external industry partners are said Bruno. “This involves integrating different Stevens has established the Center for Secure already performing strongly in each of these types of sensors to provide a clear picture of and Resilient Maritime Systems, with a variety focus areas. harbor activities, day or night, above or under of university and industry partners pursuing Going forward, Stevens will continue to execute the water.” significant research. the bold mission bequeathed by its founder: “To The center also is launching a program This year, Stevens was re-designated as a prepare extraordinary young leaders to master to improve harbor resiliency, so that its National Center of Academic Excellence in the challenges of new technologies, new markets, infrastructure can continue to provide goods Information Assurance Education by the National and new ways of thinking and competing in a or services despite a natural disaster or Security Agency (NSA) for the academic years constantly changing global landscape.” terrorist attack. 2009-2014. Stevens is among the first universities8 TechNews | | July/August 2009
  9. 9. Technogenesis®Powerhousecontinued from page 6 LegaL Q&adevelopment fund and an Angel Network to help better Qfinance Stevens’ technologies. Additional technology businesses are now in the If you own or operateworks. These range from companies that produce contaminated real estate inextremely precise optical sensors for border security to New Jersey, is it possible toa photographic-quality security camera that works in cleanup the property without the Statedarkness and through snow and rain, and which can of New Jersey’s direct oversight, that is,also detect chemical agents. Both have major marketpotential. Vikki Hazelwood on a private basis? a “We want to be known as the go-to universityfor innovative technologies and ideas,” says Dr. Yes. On May 7, 2009, a newChristodoulatos. “When investors or business people in law was passed in New JerseyNew York ask where they can go for new technologies, known as the “New Jersey Sitewe want them to say, ‘Why not go across the river?’” Remediation Reform Act.” Prior to this Opportunities for partnership with Stevens for new legislation, virtually all remediationtechnology commercialization are abundant and cases in New Jersey required some formavailable to New Jersey businesses and entrepreneurs of direct oversight involving the Newalike. For more information on how you can be part of Jersey Department of Environmentalthe Technogenesis experience at Stevens Institute of Protection (“NJDEP”). However, underTechnology, contact Dr. Christodoulatos at the new law, many remediation efforts could be implemented without directPatrick A. Berzinski is director of university communications NJDEP oversight. In short, the new lawat Stevens Institute of Technology. encourages environmental consultants to malcolm Kahn pursue licensure and certification under MORE NJDEP’s new privatization program. In turn, Learn more about Stevens Institute of Technology. owners and operators of contaminated property may now retain certified consultants to perform the investigation and remediation work in conformanceSurvey with NJDEP’s requirements. Under NJDEP’s existing program, historically the Statecontinued from page 5 would review a consultant’s proposal forSurvey Results Highlights: approval, and frequently respond in wholeBusiness Climate: U.S. companies are more radically affected, with 69 percent sharing a pessimistic or in part with deficiencies or an approval.outlook while Canadian companies ranked consistently more optimistic relative to the rest of the In contrast, the new law permits theworld. A strong group (30 percent) in the EU/AAAME remain somewhat confident in their local consultant, not the State, to certify that theeconomies. property meets applicable standards. This Key Technology Trends: Microsoft App. Dev. remains strong in the U.S., but is losing ground in new legislation is intended to streamlineCanada and EU/AAAME. In 2008, there was a clear emergence for Open Source as well as Mobileand Wireless Solutions as strategic technologies. the process, and reduce the time of the Strategic Focus: In 2008, all regions focused on fairly the same strategies, with increased overall remediation process.attention to sales (ranking as priority from 35 to 55 percent over past three years). Ease of useand new product areas remained strong priorities (55-60 percent range) over the same period,demonstrating that innovation in the IT industry remains crucial during crises. more Revenue Growth and Exports: Revenue growth was slightly faster in the U.S. and Canada, butmuch faster in EU/AAAME. Click for additional Financing: The following trends emerged: Companies in EU/AAAME are relatively stable over information frompast two years, tapping various capital sources, but with a focus on private investment which Giordano, Halleranrepresents 50 percent of their capital. Personal investment has decreased radically in North & Ciesla, P.C.America, especially in Canada where it went from 85 to 36 percent, indicating the significantindebtedness of IT industry owners is putting pressure on their company’s capitalization. U.S. firmshave increased reliance on friends and family in lieu of VC and personal financing. “The exceptional degree of globalization in IT firms is also a factor explaining their similarities Marc D. Policastro is a shareholder atin strategic focus,” Gagnon added. “While national and regional differences remain, with IT Giordano Halleran & Ciesla, P.C. in theindustry executives becoming more cautious (and more pessimistic in the case of US firms), the firm’s Environmental Practice Group. He can be reached at (732) 224-6507potential for growth and the stability of technology, market, and financial trends provide a positive or at for continued development.” TechNews | | July/August 2009 9
  10. 10. NJTC CALENDAR 2009 NJTC ANNUAL MEETING Join us immediately following the Annual NEW MEDIA FORUM: July 16 • 11a.m. – 2 p.m. Meeting for a presentation by NJTC Preferred EXAMINING THE TECHNOLOGIES Forsgate Country Club Providers: Maloy Risk Services, PSEG, and AND CAPITAL THAT DRIVE NEW MEDIA 375 Forsgate Dr., Monroe Township PAETEC. July 23 • 3:30 to 7 p.m. Members $60 Alcatel-Lucent, 600 Mountain Ave., Murray Hill No Walk Ins - Must be Pre-registered BREAKFAST BYTES Members $25 Non-Members $60 Members only—NOT A MEMBER? Join today! July 22 • 8:30 to 10 a.m. Don’t miss this opportunity to see the view Don’t miss this unique opportunity to hear from Ponzios Diner, 7 West Route 70, Cherry Hill from the year 2020. This event will examine regional industry leaders about their current Members $20 Non-Members $40 the latest technologies with two panels: and future trends. This event is a true who’s Networking is on the menu for this breakfast “Converging Media & Emerging Technologies who of technology and one that you won’t event!. This is a great way to find new people Landscape” and “Managing Through the Storm: want to miss! Following lunch at 12:15 p.m., in the technology community and connect with What are the new consumer electronics there will be a panel discussion including: people you’ve always wanted to meet. products that are emerging? What digital Dennis Bone, president – Verizon; Jassi Chadha, technologies are key to content virtualization? head of Analytics Practice, Cognizant; Bill Kroll, What changes does Internet video distribution chairman and CEO - Matheson Tri-Gas; Dr. RSS FEED have on traditional distributors, such as cable Ganesh Skandan, CEO - NEI Corporation; Fred TV and satellite operators, cable programmers, Get the latest news on NJTC events with Fritz, CEO, Neuro Diagnostic Devices and Govi broadcasters and Hollywood? the NJTC RSS feed. Visit Rao, chairman, Lighting Science Group. to add the feed to your favorites. Join us for a look at the impact of emerging digital technologies and the disintermediation that the Internet is creating in the media distribution space. 4 p.m. - New Media Products/Services Competition Presentations Deadline for entries is July 9 4:30 p.m. – Converging Media panel discussion 5:30 p.m. - Venture Investor panel discussion INNOVATIVE PROGRAMS THAT FOSTER STEM CAREERS (SCIENCE, TECHNOLOGY, ENGINEERING & MATH) July 28 • 4 to 6 p.m. Rutgers University, Piscataway Members $25 Non-Members $60 Speakers include: Dunbar Birnie, Materials Science and Engineering, Rutgers University James Morgan, Science Education Program, Is your technology related to Renewable Energy, Princeton Plasma Physics Laboratory Bill Kroll, CEO, Matheson TriGas Controlled Environment Agriculture, Water Resources A representative from NJ Public High Schools or Waste Management? The most lasting stimulus to the economy of the United States will be “stim-novation” Do you need an environment with special -- the investment our nation makes in shaping the emerging generation of innovators who capabilities to grow your business? will discover, invent and commercialize new technologies that move the world toward a Are you seeking opportunity in a State with the resources better future. Recognizing this, the NJTC will and passion to mentor your business aspirations? present a program which highlights on-going efforts around the state that focus on STEM initiatives as well as announcing a new one. NEW JERSEY AND RUTGERS UNIVERSITY CIO / IT SCHMOOZING AT THE SHORE ARE HERE TO PROVIDE YOU WITH Aug. 6 • 2 to 5:30 p.m. OPPORTUNITIES FOR FUTURE SUCCESS The Breakers on the Ocean 1507 Ocean Ave., Spring Lake Members $75 Non-Members $150 Contact the Rutgers EcoComplex to discuss your business vision. Featured Speaker: Kate Nasser, The Mark Galgano People-Skills Coach, President, CAS, Inc. If you haven’t heard Kate speak before you (609)499–3600 ext. 229 will be very pleased to hear her now. She is a wise, feisty, funny, practical, and deeply experienced service and teamwork consultant10 TechNews | | July/August 2009
  11. 11. known as the “People-Skills Coach.” She will you’ll be entered in a drawing to win an iPod to attend and bring their HR leaders to join thelead a “30-Minute Treasure Hunt to Great courtesy of Fry Communications. discussion.Teamwork.” Join us to discover the buriedgems of teamwork that inspire all to contribute. CEO SQUARETABLE . . . REGIONAL COMMERCIALIZATIONExperience the wealth and riches of targeted Oct. 20 • 8 to 10:30 a.m. CONFERENCEteamwork and how to easily inspire vibrant Deloitte, 750 College Road East, Princeton Dec. 10commitment to your organization. Members: No charge Non-Members $35 Potter Anderson & Corroon LLP This fun program will be followed by NOTE: Open to Technology Companies ONLY 1313 N. Market St., Wilmington, Del.cocktails and hors d’oeuvres by the sea! This Squaretable, supported by TriNet HR Members $60 Non-Members $120NOTE: The theme of this program is “Your Corporation, will focus on “HR Best Practices inFavorite Sports Team!” Dress to impress and a Recession and Beyond.” CEOs are encouraged For updated information or to register for NJTC events, visit NETWORKS IT/Software Patron Sponsors: Telecommunications/Media Patron Sponsor: CIO Peer Network Patron Sponsors: NJTC Industry Networks present programs about opportunities and challenges facing NJ TD Bank, N.A. • Edison Venture Fund Sonnenschein Venture Technology Group Budd Larner • Oracle technology companies by industry segment. Lowenstein Sandler, PC Verizon New Jersey Contact: Stevens & Lee, PC Contact: Karen Lisnyj • Ext 229 Electronics and WithumSmith+Brown Paul Frank • Ext 222 Advanced Manufacturing Contact: Patron Sponsors: Leo Mennitt • Ext 227 Rachel Nicometi • Ext 237 Government Affairs Amper Politziner & Mattia Patron Sponsor: Woodcock Washburn LLP Judy Storck • Ext 246 Duane Morris Contact: NJTC Peer Networks bring together like-minded Contact: Paul Frank • Ext 222 technology professionals to share common Karen Lisnyj • Ext 229 Life Sciences issues, learn best practices and gain perspective Rachel Nicometi • Ext 237 Patron Sponsor: across all technology industry segments. Duane Morris Venture Capital and Financing Contact: CEO Forum Patron Sponsors: Enviro-Energy Industry Meredith Cooper • Ext 234 Patron Sponsors: Fox Rothschild LLP Patron Sponsors: Deloitte • Morgan Lewis PricewaterhouseCoopers LLP Atlantic City Electric • Blank Rome Joan Praiss • Ext 231 Contact: Contact: Morgan Lewis • Weiser Karen Lisnyj • Ext 229 Ellen Stein • Ext 228 Woodcock Washburn Contact: Nanotechnology Paul Frank • Ext 222 Patron Sponsors: CFO Peer Network Women in Technology Woodcock Washburn LLP Patron Sponsors: Contact: Ellen Stein • Ext 228 Contact Cowan, Gunteski & Co. Joan Praiss • Ext 231 Paul Frank • Ext 222 Cushman & Wakefield HeartSTONE Group • Morgan Lewis Meredith Cooper • Ext 234 PSEG • Wachovia Contact: Rachel Nicometi • Ext 237 Managed Services Professional Services Carrier Services Managed Hosting 856.210.5800 TechNews | | July/August 2009 11
  12. 12. See what you’ve missed at some exciting NJTC PHOTO GALLERY recent NJTC events! Congratulations! The New Jersey Technology Council held the 2009 CFO Awards Breakfast at the Forsgate Country Club in Monroe on June 12. This annual event recognizes the accomplishments of financial executives from New Jersey and the surrounding region’s diverse technology companies. The keynote speaker was John H. Johnson, chief executive officer of ImClone Systems (a wholly owned subsidiary of Eli Lilly & Company.) The honored winners were, from left, CFO OF THE YEAR - Richard DeSimone, Co-Founder, CFO and director, EKR Therapeutics; DEAL OF THE YEAR - Kenneth Zuerblis, Former senior vice president and CFO, ImClone Systems Inc. (a wholly owned subsidiary of Eli Lilly & Company); FINANCIER OF THE YEAR - Donald Caldwell, CEO, Cross Atlantic Capital Partners; and HALL OF FAME - Art Finnel, CFO, Phytomedics. What’s Next in IT? This exciting IT/Software program held at Rider University brought together industry thought leaders to share their views on what is on the horizon for IT companies and users. Additionally four companies were recognized as “Visionary Companies of 2009.” Visionary Company Presentations were made by: Jeanne Barnett, Medrise. com, Dave Roth, MISI Company, Jeff Schott, Marlabs Inc. and Stephane Gaouette, Amadeus a division of DECIMAL. (Also recognized was ESI Technologies.)12 TechNews | | July/August 2009
  13. 13. GOVERNMENT AFFAIRS ACCOUNTING Q&AN.J.’s Outer Continental Shelf: Q Will the proposed new revenue recognition (EITF Issue 08-1) rulesGreat Promise for have a significant impact on tech companies? Yes: If issued, EITF Issue 08-1,Energy Independence A Revenue Arrangements with Multiple Deliverables would significantly change revenue recognition rules for the multiple deliverable arrangements typical in the tech industry. The EITF hopes to have this new standard in place for use by January 2010.BY ERIC E. MARTINS Tech companies’ sales arrangements are oftenP characterized by having multiple deliverables. In ermission has been granted to four companies to start order to recognize revenue for delivered items exploring whether it’s practical to harness wind off the Harnessing in partially completed sales, companies often opt coast of New Jersey and Delaware. Last month, U.S. for economically sub-optimal sales and pricing Interior Secretary Ken Salazar awarded five leases to wind energy policies in lieu of the less desirable alternative – deferring all revenue until the last product orthe four companies who want to develop windmills along theOuter Continental Shelf. could mean service is delivered. If issued, EITF Issue 08-1 would replace and “This is tremendous news for New Jersey and I thankSecretary Salazar and the Obama Administration for issuing thousands significantly change EITF Issue 00-21. Currently, in order to recognize revenue for delivered productsthese leases which are so critical to getting the developmentof our offshore wind turbine projects underway,” Governor of new, and services, companies are required to obtain sufficient evidence of fair value of the undeliveredJon S. Corzine said. “New Jersey’s Outer Continental Shelf products and services. This commonly involvesis a resource that holds great promise for our energy high-tech establishing vendor specific objective evidenceindependence and should be considered a haven for the clean, (VSOE) of fair value of the undelivered productsrenewable and environmentally friendly energy that wind jobs for or services, a complicated process which canpower provides.” involve establishing economically restrictive Gov. Corzine’s Energy Master Plan lays out an aggressive New Jersey. pricing policies and deal structures. The EITF hasstrategy to harness offshore energy resources located on the proposed eliminating the requirement to establish fair value of undelivered products or services andOuter Continental Shelf. In the plan, the governor set a goal instead require separate revenue recognitionfor the state to have 3000 MW of offshore wind constructed off the New Jersey coast by 2020, and based on management’s estimated selling prices1000 MW by the end of 2013. The Board of Public Utilities (BPU) has awarded $12 million in rebates of the separate deliverables, assuming the otherto three offshore wind developers ($4 million to each developer) to meet these goals. criteria of EITF Issue 08-1 are met. These other Other recommendations in the governor’s Energy Master Plan include maximizing the state’s criteria are largely carried forward from EITF 00-21energy conservation and energy efficiency to achieve reductions in energy consumption of at least 20 intact, and include establishing stand-alone valuepercent by 2020; reducing peak demand for electricity by 5,700 MW by 2020; achieving 30 percent of of the delivered items among other items. Thethe state’s electricity needs from renewable sources by 2020 and investing in innovative clean-energy elimination of the requirement to establish fairtechnologies and businesses to stimulate the industry’s growth in New Jersey. value represents a significant change in practice Gov. Corzine recently signed legislation to help achieve those goals. He authorized the BPU to use because many companies would no longer beRetail Margin Fund monies to provide grants for combined heat and power production. He has also required to establish VSOE in order to recognizerequired developers to offer solar energy systems in certain new home construction and permitted the revenue.location of certain wind and solar facilities in industrial zones. The governor also signed the Energy EITF Issue 08-1 would apply to tech companies that are not subject to Statement of PositionSavings Improvement Plan into law, making it easier for municipalities, among other entities, to (SOP) 97-2, Software Revenue Recognition. Thisretrofit municipal buildings and schools with energy-saving measures with no up-front costs. includes many hardware companies, as well as In 2007, Gov. Corzine signed an executive order to mandate a 20-percent reduction in greenhouse software companies that follow a software-as-a-gas emissions by 2020, and an 80-percent reduction by 2050. Just over a year ago, he signed a service or SaaS delivery model.bill into law enabling New Jersey to participate in the Regional Greenhouse Gas Initiative, the firstmandatory cap-and-trade program in the nation for carbon dioxide. All of these measures will result in the creation of thousands of “green” jobs for residents in areasthat include installation, construction, maintenance and energy operations. “We have taken a giant step forward to enhance energy security for the region and our nation” Gov. MORECorzine said. “That means thousands of new, high-tech jobs for New Jersey -- the jobs of the future, Click for additionalwhere workers will construct and install the energy production capacity for generations to come. information from “I look forward to working with Secretary Salazar and the Obama Administration as we move this BDO Seidman, toward a more responsible energy future -- one that develops offshore renewable energy,ensures the protection of our natural resources, and moves our nation toward energy independence.” Mark J Giamo, CPA, is an Audit Partner at BDO Seidman, LLP in Woodbridge, NJEric E. Martins is managing director of the Duane Morris Government Affairs New Jersey office. He He can be reached atcan be reached at or 732-734-1033. TechNews | | July/August 2009 13
  14. 14. NJTC NEW MEMBERS Electronics, Advanced Materials local municipalities and the federal Chemisolutions Renewals & Manufacturing government. Summit ACIN - Camden Center Folded Structures Company, L.L.C. Ringoes Interactive Media Associates Biotechnology company specialized in AK Systems, Inc. Parsippany nano nutrients, nano active ingredients Engineering services and software and nano herbal extracts. AMBLER Growth Strategy Consultants, for designing mosaic-like folding Web development and marketing Inc. • architectures, for the packaging, building company specializing in optimal user Valeritas BDO Seidman, LLP • materials, transportation, aerospace, experiences with eCommerce and other Parsippany Bezwada Biomedical, LLC and other industries, with diverse highly functioning websites. applications including efficient cores A medical technologies company Brookman, LLC • for structural-panels, energy absorbing Maintech committed to developing and CAE Associates Inc. • materials, and deployable structures. Cranford commercializing innovative drug Common Ground Recycling Inc. delivery systems and initial focus on the Hycrete Inc. An independent service organization treatment of diabetes. Datamatics (America) Inc Carlstadt delivering single-source vendor neutral IT infrastructure support services to the Service Providers – Ennova MedChem Group, Inc. Produces an environmentally friendly corporate enterprise marketplace. Business Consultants admixture that integrally waterproofs Enter Cap Partners LLC GCEMarkets, Inc. concrete used in commercial Quality Technology Services Haddonfield construction. Jersey City Assists leaders and their teams to Green Gap Solutions (fka Nu Lumen) Enviro/Energy A full-service technology infrastructure clarify and execute business strategies IntegriChain, Inc. • GreenPrimate, Inc. (dba company providing managed services, by offering an integrated approach to Logistic Solutions Inc. Timbookz)Bordentown data center services, media services and clarifying strategy, increasing executive professional services to businesses. teamwork, developing an execution Montclair State University Provides energy management, energy plan and managing the necessary audit and efficiency and climate change SpectraMD, Inc. organizational changes. NeuroTrax Corporation consulting services. Princeton KNS Development LLC New Market Translations, LLC Information Technologies Facilitates the meaningful adoption of Morris Plains Conversion Technologies electronic health records by hospitals Power Survey Company International, Inc. and physician practices. Provides technical financial services Mt. Laurel including detailed financial models and PR Newswire • RevTrax market research reports. Professional Podcasts LLC Provides of imaging, backfile conversion, New York electronic document, forms processing, Service Providers – HR PTC Therapeutics, Inc. bar code reading and color scanning A technology-empowered marketing Integrated Resources, Inc. services. company which drives and track online Edison Quality Technology Services advertising to in-store redemptions. CTS Partners – Lebanon Professional staffing firm specializing Redpoint Bio Corporation TechnDyne, LLC in contract, consulting and full time An IT consulting firm that focuses Wayne positions in the area of clinical, rehab, Sequent • on strategic consulting, project nursing and IT. Smarter Agent • management and IT support services, An innovative IT consulting, solutions TDI Power • specializing in improving IT service and services firm. Service Providers – Marketing Tekmark Global Solutions LLC delivery using ITIL, TQM, Six Sigma, and SSPR related methodologies. Wideband Technologies Princeton The Law Office of Robert M. Mark, LLC Brick CyberConsulting, LLC – Metuchen Full service public relations firm with TheAdmins • A nationwide telecommunications offices in Chicago, Palo Alto, Princeton, TNT Information Systems Provides risk management and and IT infrastructure consulting firm and Colorado Springs. information security consulting by that specializes in CISCO-based TriNet HR Corporation • provisioning the function of chief convergence, collaboration, networking Service Providers – Venture Capital security officer on a retainer basis to and information security integration. National Association of Seed and small and mid-sized companies that do Venture Funds not wish to staff this position full time. xCypher Philadelphia, Pa. Newark AUDIO Doublebridge Technologies NASVF promotes investments in Why join or renew your NJTC Princeton A software company developing seed and early-stage companies by membership? Listen to a innovative video encoding solutions for supporting entrepreneurship and job membership testimonial. Provides integration and consulting the efficient distribution of content over creation through the formation of services to various sizes of companies web and mobile networks. innovation capital programs. Joining the NJTC in pharmaceutical, healthcare, financial, Paul Frank telecommunication and consumer Life Sciences Telecommunications Ext 222 • product industries. Aton Pharma Inc. Opencon Systems, Inc. Membership Associate Lawrenceville Piscataway Ellen Stein Integrated Technology Ext 228 • Strategies, Inc. Global specialty pharmaceutical company Communications solution provider Voorhees involved in providing medically essential specializing in the development of Membership Services treatments for serious and potentially data and telecommunications system Judy Storck Provide IT services to corporations, life threatening medical conditions. solutions and applications. Ext 246 • jstorck@njtc.org14 TechNews | | July/August 2009