EDA unveils new tech Web site

An effort to boost technology and life science companies in New Jersey

By: Mike Mathis
   The state has unveiled a new online weapon in its fight to attract and maintain technology and life science companies and to help them grow and thrive. The New Jersey Economic Development Authority has launched a new Web site, www.njedatechniuum.com, specifically designed to assist tech and life science firms in obtaining the information and financing they need to succeed.
   The site was launched March 31 and has already received visitors, EDA spokesman Glenn J. Phillips said.
   "We provide such a comprehensive amount of resources for technology companies, we thought the Web site (dedicated to technology and life science companies) had to be separate and apart from our (main EDA) Web site," Mr. Phillips said. "It’s a big commitment, working with tech companies both large and small."
   The site focuses on EDA’s Techniuum initiative, which was created last year to provide support to technology and life sciences companies from concept and implementation of their business plans to the growth and expansion of their products and services.
   Visitors to the Techniuum Web site will find information on how to start and grow a company, how to secure funding, how to find a suitable location in New Jersey and how to take advantage of resources available to technology and life science companies to advance their growth and success.
   The site contains sections featuring background about the Techniuum initiative, frequently asked questions about EDA investment criteria, how to apply for assistance, news and events relevant to their industries and profiles of businesses that have enrolled in the program. "It’s a comprehensive site that (accomplishes) what we weren’t able to do on the EDA Web site," Mr. Phillips said.
   EDA assistance offered under its Techniuum umbrella includes access to venture capital, low-interest loans, tax and business incentives and grants for job creation. The initiative also includes providing access to office, laboratory and production space and support services.
   Established in 1974, the EDA is an independent, self-sustaining state financing and development agency that promotes economic growth, job creation and the revitalization of New Jersey’s communities. It has arranged more than $16 billion in financing since its inception.