Trenton, NJ (February 16, 2016) – BioNJ, the trade association for New Jersey’s life sciences industry, has released Fueling Entrepreneurship: Advancing Innovation and the Life Sciences Ecosystem, a white paper highlighting key findings from a state-wide survey of entrepreneurs intended to identify opportunities and strategies to support the important role of life sciences entrepreneurship.
New Jersey and the surrounding region represents a hotbed of life sciences activity, boasting the full complement of large and small biopharmaceutical companies, universities and research institutions, service providers and talent working together to make meaningful advances in healthcare. Entrepreneurship is a critical component to ensuring the long-term growth and success of this region and specifically BioNovation, New Jersey’s life sciences innovation cluster.
The white paper provides findings and recommendations to improve the environment for entrepreneurs, the capital raising demands of the sector, the talent and networks required, the infrastructure and policy climate of the State, and marketing and communications for this vibrant and innovative cluster. Compiled in this report are specific recommendations from those in all areas of the life sciences ecosystem.
The intended audiences are stakeholders from the public, private and academic sectors, with a specific focus for research universities, economic development authorities, innovation-based biopharmaceutical companies and their related industries, and the myriad institutions of higher education training the entrepreneurs of tomorrow.
“Entrepreneurs innovate, take calculated risks, build technologies and products, establish companies, create jobs and contribute to the regional economy, by providing a pipeline of opportunities for all stakeholders in BioNovation,” said BioNJ President and CEO Debbie Hart. “Their efforts cannot be overestimated. As a community, we should do all we can to support entrepreneurship.”
Fueling Entrepreneurship: Advancing Innovation and the Life Sciences Ecosystem is based on the ongoing efforts of the BioNJ Entrepreneurship Advisory Committee which is charged with developing and promoting the ecosystem for life sciences with a particular emphasis on entrepreneurship. In concert with this white paper, BioNJ has released the results of the survey of entrepreneurs in New Jersey, which assessed the current landscape, evaluated what has worked based on the experience of those entrepreneurs and elicited and resulted in recommendations for improving the system for entrepreneurship, all of which were then translated into the white paper.
“We have many to thank for their efforts in moving this forward and developing recommendations for New Jersey’s continued success,” said BioNJ Vice President of Strategic Initiatives Thomas Richardson, Ph.D. “We are grateful to the BioNJ Entrepreneurship Advisory Committee chaired by James Golubieski of the New Jersey Health Foundation (NJHF), and are especially grateful to NJHF for partnering on this white paper.”
“We hope the life sciences community finds the white paper informative and provocative, and will heed it as a call-to-action to get involved in support of entrepreneurship in New Jersey,” said Hart. “We look forward to working with our Members, Partners and Friends to consider and implement these recommendations to make a difference for our ecosystem.”
BioNJ, The Gateway to Health, is a powerful network of 400 Members representing research-based life sciences companies and stakeholders dedicated to propelling a vibrant ecosystem where Science is Supported, Companies are Created, Drugs are Developed and Patients are Paramount. Because Patients Can’t WaitSM, BioNJ supports its Members in the discovery, development and commercialization of therapies and cures that save and improve lives and lessen the burden of illness and disease to society by driving capital formation, fostering entrepreneurship, advocating for public policies that advance medical innovation, providing access to talent and education and offering a cost-saving array of critical commercial resources. For more information about BioNJ, please visit www.BioNJ.org.
Vice President, Communications and Marketing