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 EDA Announces Launch of New Executive-In-Residence Program at Its Life Sciences Incubator in North Brunswick

Trenton (February 23, 2015) - Tapping into New Jersey's vast life sciences ecosystem, the New Jersey Economic Development Authority (EDA) today unveiled an Executive-in-Residence program that will connect the State's broad pool of life science talent with promising companies located at the EDA's Commercialization Center for Innovative Technologies (CCIT) in North Brunswick.

"The Executive-in-Residence program is a win-win for New Jersey's technology community: life sciences executives benefit from networking opportunities and meaningful work while in transition, and emerging companies are provided access to advice and mentoring in areas critical to their success," EDA President and Chief Operating Officer Tim Lizura said.

In partnership with BioNJ, the program will involve appointed Executives mentoring and coaching CCIT's emerging life science companies through a series of weekly office hours. CCIT tenants will be able to seek advice from Executives on a range of topics. Consistent with the needs of emerging life sciences businesses, the program is seeking applicants that have expertise in a variety of specialties, including business development, commercialization, partnering and licensing, health economics, regulatory, and reimbursement. The EDA will utilize the Life Sciences Talent Network at BioNJ to attract Executive-in-Residence candidates.

"This creative, much needed program will benefit our entrepreneurs, our Executives in Residence and our ecosystem in countless ways," BioNJ President and CEO Debbie Hart said. "I applaud the EDA on this win-win-win strategy."

Benefits of the program for selected Executives include networking opportunities with tenants, BioNJ and the greater New Jersey Life Sciences community; office space at CCIT; the title of Executive-in-Residence; and exposure on EDA's website.

The application process is rolling and appointments of new Executives in Residence will be made on a quarterly basis. To be eligible, Executives must be full-time residents of New Jersey with legal working status in the US. He or she must also be willing to work at CCIT at least one day a week to advise and mentor tenants. More information about eligibility and the program, including an application, can be found at www.njeda.com/EIR.

The Executive-in-Residence Program is the latest in a series of programs based at CCIT that are designed to connect small NJ life sciences companies with local resources. Last summer, EDA began a free guest speaker series which brings in experts on a wide variety of topics including business development and angel investing.

Applications Now Available at www.njeda.com/EIR

To learn about programs and initiatives that support the technology industry, visit http://www.njeda.com/tls and follow the EDA on Twitter and LinkedIn @NJEDATech.