Expenditures on R&D by different institutions across New Jersey, such as industry, universities, and federal labs, has dropped slightly in the past five years, according to a new report by the State Science & Technology Institute.
Useful Stats: Total Research and Development Performance by State
According to SSTI, despite its limitations, publicly available data on research and development (R&D) expenditures remains one of the best metrics for measuring state progress in the innovation economy. Defined as the sum of multiple National Science Foundation (NSF) measures – including business and industry R&D, higher education R&D, and R&D at federally funded centers – total R&D has skyrocketed nationwide over the past 15 years, though some states have experienced an outsized portion of this growth.”
Debunking the Myth of Small Business Job Creation
According to Robert D. Atkinson & Michael Lind, “In 1979, MIT researcher David Birch published a report that would, unlike most studies in the field of economics, become big news. Examining more than 5 million individual firm employment records provided by the corporate information-giant Dun & Bradstreet, Birch purported to show that between 1969 and 1976, more than 80 percent of jobs were created by businesses with fewer than 100 employees.”
Marketing New Jersey at BIO International
According to Anthony Birritteri and George N. Saliba, “BIO International, the world’s largest biotechnology conference, held this year in Philadelphia, comes to a close tomorrow. By the time the more than 75 countries, 1,800 exhibitors and 16,000 participants pack up their impressive pavilions, New Jersey’s delegation of some 75 participants (from 25 sponsor companies/organizations), led by Choose New Jersey and the New Jersey Economic Development Authority, will have made an impressive display and outreach regarding what the Garden State has to offer life science companies around the globe.
Why Educating Young People in Technology Pays Off
According to Kayleigh Alexandra of MicrosStartups, “Today, strong investment in productive education is more important than ever before. After all, fresh generations face so much uncertainty about the future: what will the global job market look like in a decade? Horror stories abound, predicting that artificial intelligence will drive entire industries into obsolescence and push young people into early existential crises.”
Rutgers, Horizon BCBS Create Medical Research Partnership
Rutgers University and Horizon Blue Cross Blue Shield of New Jersey (BCBSNJ), have teamed up to create a medical research partnership. While the two organizations have engaged in collaborative research for more than a decade, the work was intermittent. That all changed two years ago when Dr. Brian Strom, Chancellor of Rutgers Biomedical and Health Sciences (RBHS), and Allen Karp, Executive Vice President for Health Care Management and Transformation for Horizon BCBSNJ, recognized the potential of a formal strategic partnership.
The New Jersey Economic Development Authority (NJEDA) has rebranded its 50-acre research park in central New Jersey from The Technology Centre of New Jersey to the New Jersey Bioscience Center (NJBC) – North Brunswick. The new name more accurately reflects the park’s life sciences focus and the spectrum of companies located there.
Ignoring Industry 4.0 Leaves Firms Vulnerable
According to SSTI, “Federal and private R&D portfolios are investing heavily in designing and refining the key innovation components of the transition to cyber-physical systems of production: artificial intelligence, automation, IoT, advanced materials, and dynamic, decentralized decision making to name a few elements. There also is a fair amount of buzz about Industry 4.0 from the big manufacturing consultants and around industry trade shows.
Useful Stats: Overall R&D Intensity by State
According to SSTI, “How has the intensity of research and development (R&D) performance changed across states and over time? As a follow up to an article in last week’s Digest that examined changes in total R&D expenditures for each state over the 15-year period from 2002 to 2016, this week’s Useful Stats focuses on R&D intensity. Overall R&D intensity is defined as total R&D expenditures (the sum of all R&D performed by industry, federal labs and agencies, colleges and universities, and other research institutions in a state) as a share of each state’s gross domestic product in a given year.
InnovationNJ Meeting
When: Fri, June 14, 8:30am – 11:00am
Where: 61 Dudley Road, New Brunswick
New York Venture Summit
When: Jul 9 – 10, 2019
Where: Convene, 117 W 46th St, New York
BioNJ BioCruise with NYBio
When: Thu, July 18, 4:30pm – 9:00pm
Where: New York Harbor World Yacht at Pier 81, Manhattan, New York
