The New Jersey Economic Development Authority (NJEDA) Board has approved $12.55 million in funding for two Strategic Innovation Centers (SICs) that will focus on medical technology and maternal health. The centers aim to support startup creation and strengthen the state’s innovation ecosystem.
The New Jersey Accelerator for Innovation in Medtech (NJ AIM), which will operate in Camden and Mullica Hill, is designed to assist with research, development, and commercialization of new medical technologies. The New Baby New Jersey SIC will be located at Trenton’s Maternal and Infant Health Innovation Center (MIHIC) and help early-stage companies develop solutions for maternal and infant health.
“Throughout the Murphy administration, New Jersey has invested heavily in creating environments where entrepreneurs can thrive, opening pathways to capital, encouraging collaboration, and leveraging the strength of the state’s academic institutions and private sector partners,” said NJEDA Acting Chief Executive Officer Mary Maples. “The NJEDA’s latest investments into NJ AIM and the New Baby New Jersey SIC further establish the state’s leadership in the medtech and maternal health sectors, advancing scientific breakthroughs, creating jobs, and bolstering the regional economy.”
Both programs will be managed by Plug and Play. They plan to offer services such as workshops, mentorship sessions, business development assistance, educational opportunities, access to equipment and industry partners, as well as investment options. Each year they expect to accelerate two cohorts of startups with at least 20 independent companies per cohort in both Camden and Trenton. At least 20 percent of these companies must be from New Jersey; others may relocate from out of state with support from resources like NJ Accelerate.
Funding includes up to $5.5 million for investments in participating companies within both SICs. An additional $2.25 million—matched by Rowan University—will support accelerator programming. Another $1.5 million is allocated for a new venture studio run by NLC Ventures aimed at developing new medtech and maternal health businesses statewide. There is also a reserved $3 million fund dedicated to an early-phase maternal and infant health initiative based in Trenton.
“New Jersey is making a clear statement about its commitment to building the next generation of medical technology companies,” said NLC Ventures USA Director Jaap Haemers. “Through this venture studio, we will work hands-on with founders to translate breakthrough science into scalable companies, while embedding them in a world-class ecosystem of clinical partners, universities, and investors. We’re proud to partner with NJEDA to help position New Jersey as a global launchpad for health innovation.”
NJ AIM SIC will use 8,500 square feet across two locations: Camden’s Joint Health Sciences Center/Cooper Medical School of Rowan University sites as well as space on Rowan University’s West Campus in Mullica Hill alongside Shreiber School of Veterinary Medicine when it opens. Facilities include labs for diagnostics/testing intended for collaborative research efforts; Cooper University Health Care acts as anchor commercial affiliate while Rowan Foundation plans selective investments.
“Innovation begins with bold investment,” said Rowan University President Ali A. Houshmand. “The future of New Jersey is built on collaboration and partnerships that make a difference. Backed by the New Jersey Economic Development Authority and strengthened by private industry, early-stage investors, and public entities like ours, together we will shape a stronger, more vibrant New Jersey.”
The MIHIC-based center covers 5,000 square feet focusing on R&D related to maternal care equity—including digital health tools/doula support/perinatal mental health/public benefits access—with involvement from various stakeholders aiming at national leadership through collaborations among startups/academia/public agencies/community groups.
“We’re incredibly proud to be part of this pivotal moment in New Jersey’s innovation journey. The accelerator is more than a program — it’s a launchpad for bold ideas that have the power to reshape maternal health across our state,” said Lisa Asare, CEO of the New Jersey Maternal and Infant Health Innovation Authority (NJMIHIA). “Our vision is a world where every mother and baby flourish. NJEDA’s investments to scale maternal health companies and support entrepreneurs is critical — not only to uplift NJ’s mothers and babies but also strengthening the infrastructures that deliver on the highest level of care.”Â
Plug & Play operates globally with over 60 offices/550+ corporate partnerships running more than 100 annual accelerators across industries including AI/fintech/health/energy; previously it partnered with NJEDA on financial technology initiatives such as NJ FAST at Stevens Institute.
“New Jersey is doubling down on startup innovation where it matters most: helping breakthrough medical technologies reach patients and accelerating solutions that improve health outcomes,” said Plug & Play Partner/CRO Michael Olmstead.“Plug & Play is proud to partner with NJEDA,Rowan University,and Cooper University Health Care to give founders what they need: deep clinical/academic collaboration,hands-on commercialization support,and direct pathways to customers/capital.”
Strategic Innovation Centers provide facilities supporting R&D through mentorship/networking/training/business services; they may function as accelerators/incubators/research hubs offering physical spaces meant for entrepreneurial collaboration—supporting diverse innovators toward economic growth.
To date,NJEDA has funded twelve SICs covering sectors like artificial intelligence,aerospace,lifesciences,and biotech.For more information visit https://www.njeda.gov/strategic-innovation-centers/.
The authority offers low-interest financing options along with tax credits,incentives,and community programs designed specifically for businesses/startups seeking growth or recovery initiatives (source). It also promotes diversity/inclusion strategies (source) while collaborating internationally (source)—all part of its mission fostering job creation,equitable opportunity,and economic enhancement throughout public/private sectors (source).
