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LetterfromthePresidentTheseareveryexcitingtimesforNJBINWearecurrentlyestab-lishingacapitalseedfundthatwillinvestinNewJerseysmostpromisinginnovativecompanies.Weseetheseedfundasapowerfultoolthatofferstremen-douspotentialfortheNewJerseyeconomy.WearealsoverypleasedtowelcomeournewestmemberJuiceTank.ThisfurtherexpandsourreachtheyarelocatedinSomersetandalsoexpandstheopportunitiesfortechnology-focusedstartupsinNewJersey.ReadmoreabouttheminthearticleNewestNJBINIncubatorExpandsResourcesforNJTechStartupstotheleftofthisletter.Asweturnanewpagewearerecognizingsomeofouroutstandingcompaniesandthepeoplewhohavesupportedusinrecentyears.PleaseplantojoinusforourFirstAnnualBusinessIncubationAwardsonApril26.Informationisonthebackpageofthenewsletterorjustclickhereoronthelinkbelow.SuzanneZammitPresidentofNJBINWinter2013WhatsInsideInterviewwithDebbieHartpg.2AngelInvestorTaxCreditProgrampg.3IncubatorNewspg.4EcoComplexCompanyBringsProducttoMarketpg.5SuzanneZammitpresidentNJBINContinuedonpage6NewestNJBINIncubatorExpandsResourcesforNJTechStartupsTheNewJerseyBusinessIncubationNetworkrecentlyannouncedthatJuiceTankinSomersethasjoinedthenetwork.WiththislatestadditionNJBINnowhasfifteenincubatorsinitsnetwork.WearepleasedtowelcomeJuiceTankasthenewestmemberoftheNewJerseyBusinessIncubationNetworksaidSuzanneZammitpres-identofNJBIN.Thisincubatorsignificantlyincreasestheresourcesavailabletostartupandearly-stagetechnologycompaniesthathaveFrontentrancetoJuiceTankinSomerset.FirstAnnualBusinessIncubationAwardsTogodirectlytotheonlineregistrationformclickhere. InterviewwithDebbieHartPresidentandCEOatBioNJMemberMid-AtlanticAngelGroupWhenitcomestoNewJerseysbiotechindustryDebbieHartmaybethemostknowledgeablepersonaround.SheworkedalongsideNewJerseysbiotechnologyindustryleaderstoestab-lishBioNJin1994andisnowpresidentoftheassociation.Sheoverseesthepromotionofthebiotechindustrysbusinessandpublicpolicyenvi-ronmentinNewJerseyWashingtonD.C.andbeyond.Hartsbackgroundincludesserviceonthetransi-tionteamsoftwoformerNewJerseygovernorsandmembershipontheNewJerseyEconomicDevelopmentAuthoritysEDATechnologyAdvi-soryBoardandasamemberandformerchairoftheNJEDAsCommercializationCenterforInno-vativeTechnologiesAdvisoryBoard.Shealsoservesontheboardsofnumeroushighereduca-tioninstitutionsinNewJersey.MostrecentlyHartwasnamedbytheLieutenantGovernorKimGuadagnoasamemberofthenewlyformedCouncilonInnovationtoadvisetheStatesPartnershipforActiononhowindustryandacademiacanbetterworktogethertoimproveNewJerseyseconomyandattractmorefederalfunding.Aspresidentofthe300-memberBioNJHartprovidesfirst-rateadvicetopeopleintheindustry.AsamemberoftheMid-AtlanticAngelgroupshealsoprovidesaninsidersperspectiveonhowearly-stagebiotechcompaniescanbestprocurefunding.FollowingareexcerptsfromarecentinterviewWhattrendsdoyouseeinNewJerseysbiotechindustryTherewereonly80biotechcompaniesinNewJerseyin1988todaytherearemorethan350.Weexpectthegrowthtocontinuebecausetherearecompaniescomingfromotherstatesandfromothercountries.Inaddi-tionlargercompaniesandacademicinstitutionsarespinningoutnewcompanies.WhatistheroleoftheincubatorsintheindustryIncubationisoneofthestrongeststrategiesforsupportingstartupbiotechcompanies.TherearemanygoodincubatorsinNewJerseywithstrongsupportsystemsthatincludegoodmanagementandsciencesupport.ArethereanytypesofbiotechcompaniesthataremorelikelytofindfundinginNewJerseythanothersTherearealwaysareasofsciencethatarepreferredinspecificpointsintime.Butratherthanthetypeofbiotechcompanythethreekeysforpo-tentialfundingsuccessareastrongmanagementteamasolidbusinessplanandthemostpromisingscience.Thenobviouslytheressomeluckinvolvedmarkettimingavailabilityofdollarsandwhoisinvestingatwhatstage.Page2ContinuedonnextpageDebbieHartpresidentandCEOatBioNJandmemberMid-AtlanticAngelGroup Page3WhatdoyouthinkarethemostimportantpointsthatcompaniesneedtogetacrosstopotentialinvestorsFirstandforemostcompaniesgoingoutforthefirsttimeshouldgetsomecoaching.Theymustbewellpreparedandpresentthescienceandthebusinessplaninthebestpossibleway.Secondtheymustbeveryspecificaboutwhattheyareaskingfor.Thirdtheyshouldntexpectayesthefirsttime.Takeanoasmaybelater.Ifyougetanoaskhowyoumightimprovethepresentationfornexttime.DoesBioNJCoachPeopleinApproachingInvestorsWegetcallsonaregularbasisfrompeoplewhoarelookingtoconnectwithinvestors.Werehappytomakeconnectionswhenwecan.IntermsofcoachingwehavetheInternationalBioPartneringConferencewhichhappensonJune17ofthisyear.BioNJselectsalimitednumberofcompaniestopresenttheirtechnologyandtheirbusinessplanattheconference.Priortotheconferenceacommitteehearstheselectedpresentationsandcoachesthecompanyonhowtoimprovetheirperformance.WhatisthebestwayforacompanytoapproachpotentialinvestorsBeoutthereonthecircuitanddoyourhome-workonaninvestorsinterestareafirstsoyoudontwastetheirtimeoryours.Lookforfolkswhoareconnectedtoinvestorsandgetawarmintroduction.GotoeventswhereinvestorsarepresentingandaskthemifyoucansendyourContinuedonbackpagebusinessproposal.PresentattheBioNJInternationalBioPartneringConference.WhatgeneraladvicewouldyougivetobiotechcompanieslookingforinvestorsDontbediscourageditsalonghardroad.Ittakes10-12yearsandalotofmoneytobringabiotechproducttomarket.Youhavetobelieveinyourscienceandhavetomakeothersbelieve.GovernorChristierecentlysignedlegislationcreatinganangelinvestortaxcreditprogramtospurjobcrea-tionandgrowthinNewJerseyscurrentandnextgenerationofhigh-skillhigh-wageemergingtechnol-ogyindustries.Thebillprovidestaxcreditsforupto10percentofaqualifiedinvestmentinanemergingtechnologybusi-nesswithaphysicalpresenceinNewJerseyandthatconductsresearchmanufacturingortechnologycommercializationinthestate.NewJerseydoesnotpresentlyoffercreditsagainsteitherthecorporatebusinesstaxorgrossincometaxforinvestmentsinemergingindustries.NJBINisdelightedthatthislegislationhasbeensignedbyGovernorChristiesaidSuzanneZammitpresidentofNJBIN.Ournetworkhasbeenadvo-catinginTrentoninfavorofthisbill.ItwillgiveasignificantincentiveforinvestorstoinvestinNJBINcompanies.AngelInvestorTaxCreditProgramApprovedinNJ TransSendITJudgedBestE-CommerceCompanyTransSendITacompanyaffiliatedwiththeBurlingtonCountyCollegeHighTechnologyandLifeScienceIncubatorsexhibitedandwasjudgedtheBestE-CommercecompanyattheNJTCAnnualVentureConferenceonMarch22.NJCUBuildYourDream2013NewJerseyCityUniversityhaslaunchedBuildYourDreamacompetitionthatwillawardprizesof1000500and250respectivelytothetopthreeoriginalbusinessconceptsdevel-opedbyNJCUstudents.Theprizeswillbespon-soredbytheNJCUFoundationInc.BuildYourDreamwillbejudgedbyNJCUalumnientrepre-neursandrepresentativesfromNJCUsBusinessAdministrationDepartmentBusinessDevelop-mentIncubatorBDItheSmallBusinessDevelopmentCenterSBDCandprivateequityfirms.Thecompetitionispartofaseriesofcampusprogramsthatfocusonentrepreneurshipstartingabusiness.TheprogramstypicallyfeatureNJCUbusinessfacultyrepresentativesfromtheSBDCatNJCUNJCUalumnientrepreneursandotherexpertsinvariousfieldsaswellasnetworkingopportunities.OfferedinresponsetostudentsinterestinmeetingwithalumnientrepreneursandothersinthebusinessworldtogainfirsthandknowledgeaboutstartingabusinessthecampusprogramsarecoordinatedbyNJCUsOfficeofAlumniRelationsBDIBusinessAdministrationDepartmentMediaArtsDepartmentOfficeofAc-ademicCareerPlanningandPlacementandthestudentBusinessSociety.IncubatorNewsInnovativeSolarParkingLotSystemInstalledatRunnellsHospitalWattLotsLLCacompanyaffiliatedwiththeNewJerseyInstituteofTechnologyEnterpriseDevel-opmentCenterhasrecentlycompletedtheinstalla-tionofthegroundbreakingPowerArborparkinglotsystematRunnellsSpecializedHospitalinBerkeleyHeightsNewJersey.TheWattLotsSolarPowerArborsrepresentaclearandstrikingbreakfromtheparkingsolarinstallationsdelivering160000kilowatthoursofcleanpowerfromthesunannually.Theinstallationwillsavethehospital1.7millionandreducecarbonemissionsby3300tonsoverthelifeofthesystem.ItwasinstalledbyEMSASolarandfundedbyaUnionCountyFederalStimulusFundGrant.AgreenabilityCompletesTWISTERHeatExchangerDevelopmentAgreenabilityrecentlyannouncedthatithascompleteddevelopmentofitsmuch-anticipatedTWISTERheatexchangerforresidentialandcommercialgeothermalheatingandcoolingapplica-tions.TWISTERisapatent-pendingsystemrepre-sentinganewverticalboreheatexchangertechnologyandwhichallowsthesimultaneousinstal-lationoffourloopsinasingleverticalboreforgreaterefficiencyandlowercostcostreductionstypicallyof20percentand30percentcutsindrillingrequire-mentsmadepossiblethroughinnovativeefficientdesign.Agreenabilityisagreencompanyhead-quarteredattheBusinessAcceleratoratBergenCommunityCollegeinNewJersey.Page4 Page5Continuedonpage7___MicrofluidicDesktopDeviceWillBringDNASynthesisBackHomeEcoComplexCompanyBringsProducttoMarketDNAsynthesisisbecomingandwillcontinuetobeacrucialtechnologythathasamajorimpactonmolecularbiology.CurrenttechnologyisunabletosynthesizeDNAinlongcontinuousstrands.Theyhavetobemadeshortoligonucleotidesshortsingle-strandedDNAandpiecedtogetherwhichistimeconsuminganderrorprone.ManyU.S.drugdevelopersandbiomedicalresearchersengagetheservicesofcontractresearchorganizationsCROsorcontractmanufacturingorganizationsCMOstocarryoutthiswork.Thesecompaniesarelocatedincountrieswherecheaplaborisavailableinclud-ingIndiaandChina.Howevermanypharmaceuticalcompa-nieshavediscoveredthattheirlackofcontrolduringsynthesiscanleadtocostlyerrorsthatnegatethecostsavingsofout-sourcing.NowmajorU.S.pharmaceuticalcompaniesarerevertingbacktohandlingthisworkin-house.MicroDysisastartupcompanylocatedintheRutgersEcoComplexincubatorhasbeendevel-opinginnovativeproductsforbiomedicalapplica-tions.Thenewproductisalaboratorydesktopdeviceforoligonucleotidesynthesis.Thedevicewhichlookslikeacolorinkjetprintercreatesoligonucleotidestringsinamicrofluidicchipaccordingtocustomerdesignsandgivesresearchersatpharmaceuticalcompaniesanduniversitiesalow-costhigh-controlandtimelieralternativetoCROsandCMOs.ThedevicewasdevelopedbyJosephHuangPh.D.founderandpresidentofMicroDysis.HuanghasanimpressivereputationinbothChinaandtheUnitedStates.WhileworkingasanassociateprofessorinbiomedicalengineeringatChinasSunYat-senUniversityHuangwasamajorco-inventorfortheEnhancedExternalCounterpulsationEECPTherapysystem.ThepatentforthisdevicewasboughtbytheU.S.companyVasomedicalin1993.TheEECPsystemisnowtheleadingproductintheU.S.inthenon-invasivetreatmentofcardiovasculardisease.HuangalsoreceivedinvestmentmoneyforacontraceptivedevicethatwasapprovedbytheChinesecounterpartoftheU.S.FoodandDrugAdministrationandreceivedaprestig-iousawardfromtheChinesegovern-mentforhiswork.HuangssuccessinChinaspurredhisdesiretoinventandinnovateintheU.S.whereherelocatedin1997.HeworkedforafewyearsattheUniversityofPittsburghtheUniversityofVirginiaandasmallbiotechnologycompanyPharmaSeqinNewJersey.Thenin2003inspiredbythesuccessfulcompletionoftheHumanGenomeProjectHuangfoundedMicroDysis.In2006hemovedintotheEcoComplex.IdecidedontheEcoComplexlargelyduetoitslocationandabilitytoprovidetheservicesIneededsaidHuang.Thestaffwasverysupportiveespeciallyinhelpingmelearnhowtorunabusinesstowriteabusinessplanandtobudget.BecausetheMicroDysisbiochipisdesignedonamicrofluidicplatformthedevicerequiressmallersamplesandlowerconcentrations.Itoffersaflexibleeasy-to-useandhighlysensitiveyetlesscostlydetectionapproachforimmediatelaboratoryapplica-tionsandfutureclinicaldiagnosis.TheNewJerseyJosephHuanginhislaboratoryattheRutgersEcoComplex. Page6NewestNJBINIncubatorcontinuedfrompage1optedtocallNewJerseyhome.ThisisawonderfuladditiontotheNewJerseyIncubationNetwork.JuiceTankwasfoundedbyMukeshM.PatelEsq.AnishDesaiandCharliePatel.Eachofthefounderscomesfromanentrepreneurialback-groundandsharesacommitmenttosocialentre-preneurshipandcharitablegiving.OneofthecornerstonephilosophiesofJuiceTankistheconceptofShareitForwardwheretheventuresgivebackandshareforwardtomakeapositivemeaningfulimpactonothersandspecialcauses.OurcompaniesgetmuchmorethanjustspacesaidDesaiwhoischiefstrategistforJuiceTank.Weprovidesharedresourcessuchasaccount-antslawyerspatentofficershumanresourceprofessionalsandtechnologydevelopmentprofes-sionals.AnotherimportantaspectofJuiceTankisthatitinvestsinandpartnerswithstartupswhethertheyarelocatedintheincubatororelsewhere.JuiceTankfundscompaniesfrom15000to250000fromtheirseedfund.JuiceTankwillalsogowiththesecompaniestoVentureCapitaliststoobtainadditionalfundsifrequired.Theyalsopartnerwithtraditionalbankstohelpobtainfundingfortheircompanies.JuiceTankisactivelyseekinginvestmentopportu-nitiesinthewebandmobileproductsorserviceshealthcaresportsandentertainmenthospitalityandtravelgreeninitiativesandconsumerprod-uctssectors.Ourgoalinthenext12monthsistolistento1000pitchesandtoselectoneamonthsaidDesai.Sothats12atanygiventimethatwewillbeincubatingandhelpingtogrow.MukeshM.Patelisaserialentrepreneurafoundingprincipalofaprivateequityfirmattorneybusinessadvisorangelinvestorandmentor.Asaserialentrepreneurhehasfoundednumerousventuresandaprivateequityoppor-tunityfund.DesaiisthepresidentfounderofSymphonySolutionInc.whichfocusesonmobileandwebtechnologyandbusinessprocessoutsourcingsolutions.CharliePatelrunsasuccessfulprojectmanagementfirm.Additionallyhehaslaunchedseveralprofitablestartupsinthepast.Businessincubatorsreducetheriskofsmallbusi-nessfailures.HistoricallyNBIAmemberincuba-torshavereportedthat87percentofallfirmsthathavegraduatedfromtheirincubatorsarestillinbusiness.NewJerseysincubatorsmakemeasur-ablecontributionstothestateseconomythroughtheirsupportofbusinesses.Overthepastthreeyearsannualcontributionsfromover450entre-preneurialcompaniesinNJBINincubatorshaveaveraged1380newhigher-payingjobscreatedandretained255millioninrevenuegeneratedand71.5millioninthird-partyfundingbroughtintoNewJersey.TogototheJuiceTankwebsiteorcall908505-5735formoreinformation.JuiceTankInterior MicrofluidicDesktopDevicecontinuedfrompage5CommissiononScienceandTechnologyCSTfundedhisfirstprojectin2006throughwhichhedevelopedamicrofluidicchipforgeneticandprote-omicanalysis.WithadditionalsupportfromtheNIHNationalCancerInstitutesSBIRprogramin2008MicroDysisdevelopednanotechnologythatusedcarbonnanotubestoincreasethesensingsurfaceareaabout10000timestherebyvastlyincreasingthesensitivityofthedevice.AlthoughtheeconomicdownturnslowedHuangsworkontheformerprojectMicroDysisprevailed.ContractstodevelopcustomizedequipmentanddevicesforbiotechandstartupcompanieshelpedkeepMicroDysisafloatanditsresearchprojectsactive.Theyears2008-2010mayhavebeentougheconomicallybuttheyalsobroughtrecognitiontoJosephHuangandMicroDysis.TheNewJerseySmallBusinessDevelopmentCenterawardedhimthe2008SuccessAwardtheninthannualjointsymposiumofBioNJandPennsylvaniaBionamedhimoneof9outof52InnovationCorridorposterwinnersin2009andTheResearchandDevelop-mentCouncilawardedhimthe2009ThomasAlvaEdisonPatentAwardfortheU.S.patentMicrostructureFabricationandMicosystemInte-gration.ThedevelopmentofthedesktopoligosynthesizercontinuedandHuangisnowatthefinishlineaprototypeanditsresultshavebeenvalidated.ThenewdevicewillbeonthemarketinMarchorApril2013.FormoreinformationvisittheMicroDysiswebsiteemailcontactusmicrodysis.comorcall6096421184.Page7 NewJerseyTheRightStateforEntrepreneursandBusinessVentureDevelopmentAreyouavisionaryentrepreneurwithanawe-inspiringbusinessplanDoyouhavethetechnicalknow-howtobecompetitiveIfyesanincubatorinournetworkcouldbethenexthomeforyourbusiness.Tofindoutmorecalloremailthecontactslistedbelow.Foraddi-tionalinformationabouteachincubatorvisitourweb-siteatwww.njbin.org.TheNationalBusinessIncubationAssociationNBIAistheworldsleadingorganizationadvancingbusinessincubationandentrepreneurship.Eachyearitprovidesthousandsofprofessionalswithinformationeducationadvocacyandnetworkingresourcestobringexcellencetotheprocessofassistingearly-stagecompanies.Anelectedvotingboardofdirectorsrepre-sentingtheworldsleadingincubatorsgovernstheassociation.TheNewJerseyBusinessIncubationNetworkNJBINisacollaborativestatewidecommunityofbusinessexpertsresourcesandfacilitiesdedicatedtoenhancingthecommercialsuccessofearly-stageentrepreneurialcompaniesgrowinghigherpayingjobsinNewJerseyandsupportingtheEconomicGrowthStrategyfortheState.Copyright2011NBIABurlingtonCountyCollegeHighTechnologyandLifeSci-enceIncubatorsMountLaurelContactIsabelThompson856-222-9311x2800ithompsobcc.eduTheBusinessDevelopmentCenterAsburyParkContactRogerBoyce732-455-0519rogerbinterfaithneighbors.orgTheBusinessDevelopmentIncubatoratNewJerseyCityUniversityJerseyCityContactJosephTetteh201-200-2313jtettehNJCU.eduTheCommercializationCenterforInnovativeTechnologiesNorthBrunswickContactDonaldShatinsky732-729-0022dshatinskynjeda.comTheEnterpriseDevelopmentCenteratNJITNewarkContactJerryCreightonSr.973-643-4063jerry.creightonnjit-edc.orgJuiceTankSomersetContactAnishDesai908-505-5735anishjuicetank.comTheIncubatorInc.TheBOSSPlainfieldContactJefferyDunn908-757-5155jefferyndunnyahoo.comMeadowlandsRegionalAcceleratoratBergenCommunityCollegeLyndhurstContactMichelBitritto201-301-1280mbitrittobergen.eduThePicatinnyInnovationCenterDoverContactMarkMerclean973-442-6400mmercleanccm.eduRowanUniversitysRohrerCollegeofBusinessIncubatorMullicaHillContactStephenKozachyn856-256-4126kozachynrowan.eduTheRutgers-CamdenBusi-nessIncubatorCamdenContactSuzanneZammit856-479-9044suzannezcamden.rutgers.eduTheRutgersEcoComplexBordentownContactSerpilGuranPh.D609-499-3600x225guranaesop.rutgers.eduTheRutgersFoodInnovationCenterBridgetonContactMichaelduBois856-459-1900x4516duboisaesop.rutgers.eduTheSustainableBusinessAcceleratorVirtualContactJonathanCloud908-306-9075jcloudfdu.eduWCCCSmallBusinessGrowthCenterPhillipsburg908-878-0203ClickheretoRSVP._