1. New Jersey Invests in Clean Energy Entrepreneurism Page 4
interactive
The Business Behind the Technology Sectors of New Jersey
Collaboration is Key
at Stevens—
A National Center
of Research Excellence
2. Stevens students learn the cutting-edge
technical solutions & effective paths to
commercializing technology.
Founder Edward A. Stevens was raised in a family of inventors and
entrepreneurs who transformed their inventions into a number of successful
enterprises, including the first steam-driven locomotive in the U.S. in 1826.
Stevens' commitment to innovative and entrepreneurial results has produced illustri- Programs delivered
ous graduates like Frederick Taylor and Henry Gantt and is continuing to produce
world class technologists and engineers from continuous engagement with thousands on campus in Hoboken,
of alumni, students and faculty. online, or at your
corporate location.
Stevens offers a comprehensive curriculum in Entrepreneurship, including an
Entrepreneurship Minor and a unique undergraduate program in Business &
Technology. Stevens undergraduate students must also complete a Senior Design
Project with gives them the opportunity to create new technology and explore how it
can best be commercialized. Stevens also offers a broad array of graduate level
programs in Technology Management, including a Master of Science in
Management with Technology Commercialization Concentration and a Graduate Sharen.Glennon@stevens.edu
Certificate in Entrepreneurial Information Technology.
201-216-5381
Stevens has been at the forefront of innovation and
entrepreneurship since the late 1800s.
http://Howe.Stevens.edu
H O W E S C H O O L O F T E C H N O L O G Y M A N A G E M E N T
4. Green World
New Jersey Invests in Clean Energy Entrepreneurism
NJ EDA Launches Clean Energy “The coordination among various state agencies to support energy
efficient and renewable energy in New Jersey has helped to establish the
Solutions Capital Investment state as a national leader,” said Jeanne M. Fox, president of the New Jersey
Board of Public Utilities. “Our coordination is a direct result of the clear
Loan/Grant Program vision and goals established under Governor Corzine’s Energy Master Plan,
and additional EDA/BPU partnerships to support clean energy projects in
New Jersey that will be unveiled throughout the summer.”
A new funding resource in support of Gov. Jon S. Corzine’s commitment This latest product complements the state’s existing clean energy
to promoting economic development and a more secure environmentally programs to promote economic development, including the Clean Energy
responsible energy future for New Jersey was unveiled last month. Known Manufacturing Fund. Businesses interested in Clean Energy Solutions
as the Clean Energy Solutions Capital Investment (CESCI) Loan/Grant, the opportunities should visit www.njeda.com in the coming weeks for more
new program was developed to encourage and promote energy efficiency information on upcoming products, including a new performance-based
measures within the commercial and industrial sectors and encourage the grant program to assist combined heat and power facilities to complement
use of renewable energy while supporting the goals of the Gov. Corzine’s the CESCI program, which will be offered in partnership with the Board of
Energy Master Plan. Public Utilities.
“Our new financing product will expand the state’s national leadership
role in establishing a green economy by ensuring companies have the Edison Innovation Clean Energy Fund
‘green’ resources they need to sustain, grow and prosper in New Jersey,” The Edison Innovation Clean Energy Fund is a unique funding opportunity
said Caren S. Franzini, chief executive officer of the New Jersey Economic that arose from collaboration between NJ Commission on Science &
Development Authority (EDA). Technology and the Board of Public Utilities (BPU). It will provide funding in
Additionally resources will be unveiled over the next several months the amount of $100,000 to $500,000 to New Jersey technology companies,
as part of the state’s Clean Energy Solutions portfolio, which includes for demonstration projects and developmental and
partnerships with the Board of Public Utilities ancillary activities necessary to commercialize
(BPU) and the Department of Environmental identified renewable energy technologies and
Protection (DEP). innovative technologies that significantly
Gov. Corzine’s Energy Master Plan is one of increase energy efficiency. This grant will fund
the most aggressive in the nation, and is aimed technologies that can demonstrate their
at reducing energy consumption by 20 percent and integral nature to the development Class 1
generating at least 30 percent of the state’s energy from renewable energy technologies that produce
renewable sources by the year 2020. or support the production of renewable or
The CESCI Loan/Grant program will support commercial, clean electricity generation.
institutional or industrial entities advancing energy-efficient Funding of demonstration projects will be
end-use projects, combined heat and power (CHP or cogen) open to proposals that seek funding for research,
production facilities, or construction of state-of-the-art, market development, deployment, and technology
efficient electric generation facilities, including Class I and demonstrations of innovative products or services that
Class II renewable energy. CESCI will provide zero-interest loans advance the delivery of renewable energy and
and grants up to $5 million to eligible commercial, energy efficiency technologies. The proposal
industrial or institutional customers, with up to should demonstrate how any research
10-year loan term to fund purchase of fixed-assets conducted will contribute to proving the
(including real estate or equipment). scientific or technical feasibility of the
The loans and grants offered through CESCI approach or concept proposed.
are capitalized through the Regional Greenhouse Companies that are awarded the Edison
Gas Initiative’s Global Warming Solutions Fund, in Innovation Clean Energy Fund by NJCST can
partnership with the DEP. receive up to 20 percent of the approved NJCST
“Using global warming funds to promote energy grant, not to exceed $100,000, from the NJEDA in
sustainable projects presents the DEP and the EDA with a equity-like financing for non-R&D related costs. The
unique opportunity to strengthen New Jersey’s economy application for this fund is Sept. 4, 2009.
while creating a cleaner and greener environment,” DEP
Acting Commissioner Mark N. Mauriello said.
MORE Download the Edison Innovation
Clean Energy Fund Application.
4 TechNews | www.njtc.org | July/August 2009
5. NJTC IT Industry Survey: Tech Sectors Remain “Vibrant,” Despite Challenges
BY BARI FAYE SIEGEL was initiated by the NJTC in collaboration Quebec, one of the partner organizations.
with 10 similar organizations from around the The results of the study were also released
The New Jersey Technology Council announced world including Canada (Quebec), UK, Ireland, in Montreal by Gagnon, who said that a total
the results of the long-awaited Fourth Annual and others in the European Union, Africa, of 185 companies responded, of which 85 from
Information Technology Industry Survey at the Central and South Americas, Asia, and Middle New Jersey. The survey was co-designed by
PSE&G Training and Development Center in East (EU/AAAME). Gagnon and Prof. Katia Passerini from the New
Edison in June. Overall, the survey identified a A web-based methodology was adopted, using Jersey Institute of Technology.
number of technologies, markets, and financial a brief 15-items questionnaire administered to While several issues were addressed, ranging
trends that reveal the diversity of economic members of IT industry associations in various from financial to technology decisions, at least
contexts, but also the great similarities in countries. “For each partner organization, five key findings emerged from an international
strategic responses internationally. membership represented about 10 to 20 percent of comparison across the years 2006-2007-2008.
The Survey, whose objectives are to identify local companies, and the response rate was about One thing is for certain, “The IT industry
business trends and challenges facing IT five to 20 percent of surveyed members, providing remains vibrant in spite of its many business
companies, and compare strategic responses representative, significant, and reliable results,” challenges, mainly owing to its innovative drive
in various business environments/climates, said Prof. Stephane Gagnon of the University of and ability to renew itself rapidly,” Gagnon said.
See Survey, page 9
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TechNews | www.njtc.org | July/August 2009 5
6. Stevens Institute of Technology
New Jersey’s Technogenesis® Powerhouse
BY PATRICK A. BERZINSKI
Stevens Institute of Technology prides itself on its collaborative, In December 2005, Stevens’ officials concluded the $17.5-million
entrepreneurial R&D-and-learning environment, called Technogenesis. acquisition of the Technogenesis startup PlasmaSol by Stryker Corporation.
Technogenesis is the intellectual frontier, pioneered Stryker’s initial plans were to use
by Stevens, where faculty, students and industry PlasmaSol’s non-thermal plasma
jointly nurture research technology concepts to technology to sterilize medical devices,
commercialization. It is more than traditional
technology transfer; it is part of the Stevens “We want to be known among other potential biomedical
applications. Also in 2005, Stevens
educational experience and creates a climate of launched four new Technogenesis
innovation and enterprise across the campus. as the go-to university startup companies including Atilla
At Stevens, examples abound of students, Technologies. These acquisitions and
professors and companies working together
– researching, developing and launching new
for innovative startups were a major affirmation of
Stevens’ vision of Technogenesis.
businesses based on the intellectual property of the
institute in concert with its external partners.
technologies and ideas.” For a technology to prove successful,
it must have unique, patent-protected
Dr. Vikki Hazelwood, a professor in the Chemistry, attributes that give it a competitive
Chemical Biology and Biomedical Engineering — Dr. Christos Christodoulatos, advantage. To identify and manage
Department, is expert at shepherding projects promising new technologies, Stevens
through the Technogenesis process. She brings
associate provost of hired in 2008 a new vice resident for the
together engineering researchers and clinical care Academic Entrepreneurship Research Enterprise, Dr. Joseph Mitola
providers to successfully move these projects “from III; created a post for an associate
bench-top to bedside.” provost of Academic Entrepreneurship,
Along the way, “I work with the students and occupied by longtime Stevens
make sure they collaborate with the physicians. Their worlds are so researcher and entrepreneur, Dr. Christos Christodoulatos;
different, they have to learn to communicate,” she says. and in June 2009 hired Malcolm
One of revolutionary products she has been working on with students Kahn as vice president for Enterprise
eliminates unnecessary surgery by finding the overlooked source of back Development & Licensing.
and neck pain. The product, which has been featured on CBS-TV, NBC’s In this capacity, Kahn will be
Today Show and ABC’s Good Morning America, is the basis for the responsible for the full cycle of
Technogenesis start-up company, SPOC, Inc., which is now headquartered business development at Stevens,
in Stamford, Conn. from helping researchers and staff
SPOC was formed in 2005 by the office now overseen by Stevens’ vice identify markets and technology
president for Enterprise Development & Licensing. The co-founders are the applications, to the spawning,
technology inventors, Dr. Norman Marcus, a leading expert in the field of development and funding
pain management, and biomed engineering undergrads Jeckin Shah, Ryan of Stevens’ Technogenesis®
Stellar and Daniel Silva. SPOC was conceived at Stevens as a senior design Companies. He will also be
project in Hazelwood’s Biomedical Engineering senior-design class. working on establishing a
SPOC incorporates two technologies, one of clinical methodology and
one of device technology, for a combined diagnostic package that allows See Technogenesis®
for a revolution in the accuracy and precision of muscle pain diagnosis. In Powerhouse, page 9
2008, the SPOC device received FDA 510K clearance for manufacture and
marketing as a clinical device. Final FDA approval for use of the device as a
diagnostic tool is pending. The potential market for the device is ultimately
in the region of hundreds of millions of dollars.
Technogenesis reached a commercialization plateau during 2005. That
year saw the first sale of a Technogenesis start-up company, HydroGlobe,
which developed water-filtration technologies to remove toxic metals
from drinking water. It was sold to Graver Technologies, part of the global
Marmon Group, for $5 million plus a royalty fee and ongoing royalties. The
HydroGlobe technology has since found its way into the most commonly
used household water filtration devices.
TechNews | www.njtc.org | July/August 2009
6
7. A National Center of Excellence on the Hudson
BY PATRICK A. BERZINSKI
From the invisible microcosm of nano-engineering Stevens has also been successful in delivering Institute of Technology and the Central
to the burgeoning macrocosm of complex space- graduate courses in China. These courses are University of Finance and Economics.
based systems, educational offerings at Stevens delivered partly online and partly on-site and are Stevens Institute of Technology International
Institute of Technology are among the most presented in collaboration with the Beijing (SITI), which represents the first establishment of
forward looking in the United States.
Stevens’ location — along the Hudson River,
across from the finance and business capital
of the world, New York City — as well as
its highly selective admissions policy and its
healthy student-to-faculty ratio impart a rare
agility to the institution, allowing for the swift Current and Future Innovations
adoption and perfection of relevant, cutting-
edge curricula.
The innovative Stevens undergraduate
Explored During Stevens’ R&E Day
programs launched in this century include
Biomedical Engineering, Business & Technology BY ALAN S. BROWN
Management, and Cyber Security. The university
has now instituted an undergraduate minor Stevens’ second annual
in Green Engineering, carrying forward the Research and Entrepreneurship
pioneering commitment to environmental quality Day highlighted the top-tier
for which Stevens is renowned. technology university’s avowed
In 2007 Stevens initiated two new schools spirit of “Technogenesis®.” The
at its Hoboken campus — the first, the School word is a registered trademark
of Systems & Enterprises (SSE), followed by the of Stevens, defining the highly
College of Arts & Letters. SSE is the outgrowth of entrepreneurial research and
the Stevens Department of Systems Engineering education environment that
& Engineering Management, which grew with encompasses collaboration by
rapid success to become one of the largest such students, faculty and industry
programs in the United States after its formation partners, who work together to
in 2000. SSE provides exclusive professional advance laboratory concepts
courses at home and abroad, serving industry toward significant marketplace
and government agencies in the United States, applications.
Europe, South Asia, and the Far East. Dr. Christos Christodoulatos,
The school also provides advanced systems associate provost for Academic Dr. Kishore Pochiraju investigates an intelligent robotic vehicle
engineering education to the United States’ Entrepreneurship and director built by a student team.
National Security Agency, the Federal Aviation of the Center for Environmental
Administration (FAA), and the National Systems, believes Stevens has
Aeronautics and Space Administration (NASA), been quite successful in differentiating itself from other academic institutions.
among other agencies. “While most science and engineering schools emphasize research and education, Stevens
The Stevens College of Arts & Letters was places equal weight on entrepreneurship,” said Christodoulatos.
founded in recognition of the importance of This is the essence of
the arts and humanities in the spectrum of Technogenesis: Students not
technological studies. Programs in Art, Music only learn to develop new
& Technology and the History & Philosophy of technologies, they create
Science are now permanent features of the innovations that have practical
university’s undergraduate curriculum. uses. Stevens’ success in
inculcating these values is
one of the reasons that Forbes
Pioneering Global Education magazine ranked it third
Stevens provides an award-winning online among 189 colleges for return
education component, WebCampus.Stevens.edu, on research investment.
which reaches students around the world with The Department of
dozens of rigorous graduate courses in science, Defense’s only university-
engineering, and systems and technology affiliated research center in the
management. field, the Systems Engineering
Professor Rainer Martini points the direction travelled by his
See National Center, page 8 See Stevens’ R&E Day, page 8 mid-infrared lasers on the roof of the Burchard Building.
TechNews | www.njtc.org | July/August 2009 7
8. National Center Stevens’ Wesley J. Howe Center
with a spectacular view of Manhattan
continued from page 9
a university outside the United States based on in the U.S. to be
the Stevens model, is located in Santo Domingo, designated by the
Dominican Republic, and is strongly endorsed by National Security
that nation’s innovative president. Agency (NSA) as a
President Harold J. Raveché of Stevens National Center of
Institute of Technology has also initiated talks Academic Excellence
with the South Korean government to establish in Information
a university on the Stevens model in the fast- Assurance Research
expanding port city of Pyeongtaek, located just for academic years
southwest of Seoul. 2008-2013.
Founded in 1870 on a 55-acre estate in The spirit of
Hoboken, N.J., Stevens Institute of Technology has entrepreneurialism
grown to become one of the leading technological that invigorates
universities in the world dedicated to learning all aspects of the
Patrick A. Berzinski is the director of university
A
and research. It offers broad-based curricula environment at Stevens
communications at Stevens Institute of
designed to nurture creative inventiveness and is a vibrant legacy of the Stevens family, whose Technology. For additional information about
cross-disciplinary communities. members played key leadership roles in both Stevens Institute of Technology, visit www.
Stevens is in the forefront of global challenges the American War of Independence and the stevens.edu.
in engineering, science, complex systems, American Industrial Revolution. Their concept of
and technology management. Partnerships an intensive, broad-based technology education,
and collaborations with business, industry, meant to create highly competitive leaders for
government, and other universities contribute to
the enriched environment at Stevens.
American industry, is enshrined at the university
that Edwin A. Stevens bequeathed to the nation. Stevens’
R&E Day
In addition, Technogenesis®, the mature At the dawn of the 21st century, that spirit
model created by Stevens for technology emboldens young leaders to tackle the next
commercialization in academe, involves American century of globally based competition.
external partners working with undergraduates continued from page 9
and faculty to develop and launch technology Innovating Cross-Disciplinary
enterprises that create broad opportunities and
shared value. Communities Research Center (SERC) is located at Stevens.
In 2007, leaders at Stevens propounded a long- Dinesh Verma, dean of the School of Systems
In recognition of its continuing successes, and Enterprises, spoke about the center and
Stevens has been ranked by Forbes.com at No. 3 range Strategic Positioning Plan that serves as a
topographical guide to the “New University of its applications for systems engineering.
among 189 U.S. research universities for the high “Systems engineering is a practice-
percentage of return on its research investment. the global-technological era.” The establishment
of “communities of creative enterprise” across oriented field that has been starved of
the spectrum of disciplines is the centerpiece fundamental research,” said Verma. “SERC
National Centers of Excellence on of this plan. The continued growth of Stevens is collaborating with 17 other universities
the Hudson as a graduate research institution is also to fill in the blanks. Our vision is to develop
Stevens received an award in 2008 as the carefully balanced with the recognition that transformational systems engineering
first Department of Defense-funded University the undergraduate engineering program is the methods, processes and tools.”
Affiliated Research Center (UARC) focused on university’s beating heart, which nourishes all Michael Bruno, dean of the School of
Systems Engineering Research, embodied in the other endeavors. Engineering & Science, described the Stevens
Stevens’ Systems Engineering Research Center The Strategic Positioning Plan identifies three National Center of Secure and Resilient
(SERC), which will be based both in Hoboken major focus areas of education and research Maritime Commerce and Coastal Environment
and at a strategically located headquarters in for the next century — complex systems and (CSR). Its mission is to improve port and
Washington, D.C. Stevens’ principal partner in the enterprise management and architecture; coast security and emergency response when
SERC is the University of Southern California. security technologies, including for maritime, faced with natural hazards and terrorists.
Also in 2008, Stevens was chosen by the cyber, information, and communications More than 100 professionals are involved in
Department of Homeland Security as one of networks; and multi-scale engineering, science, CSR’s projects.
11 U.S. research universities to establish five and technology. “The organization has developed a layered
National Centers of Excellence in Homeland Cross-disciplinary communities of faculty, approach to maritime domain awareness,”
Security Research. Based on this designation, students, and external industry partners are said Bruno. “This involves integrating different
Stevens has established the Center for Secure already performing strongly in each of these types of sensors to provide a clear picture of
and Resilient Maritime Systems, with a variety focus areas. harbor activities, day or night, above or under
of university and industry partners pursuing Going forward, Stevens will continue to execute the water.”
significant research. the bold mission bequeathed by its founder: “To The center also is launching a program
This year, Stevens was re-designated as a prepare extraordinary young leaders to master to improve harbor resiliency, so that its
National Center of Academic Excellence in the challenges of new technologies, new markets, infrastructure can continue to provide goods
Information Assurance Education by the National and new ways of thinking and competing in a or services despite a natural disaster or
Security Agency (NSA) for the academic years constantly changing global landscape.” terrorist attack.
2009-2014. Stevens is among the first universities
8 TechNews | www.njtc.org | July/August 2009
9. Technogenesis®
Powerhouse
continued from page 6
LegaL Q&a
development fund and an Angel Network to help better
Q
finance Stevens’ technologies.
Additional technology businesses are now in the If you own or operate
works. These range from companies that produce contaminated real estate in
extremely precise optical sensors for border security to New Jersey, is it possible to
a photographic-quality security camera that works in cleanup the property without the State
darkness and through snow and rain, and which can
of New Jersey’s direct oversight, that is,
also detect chemical agents. Both have major market
potential. Vikki Hazelwood on a private basis?
a
“We want to be known as the go-to university
for innovative technologies and ideas,” says Dr. Yes. On May 7, 2009, a new
Christodoulatos. “When investors or business people in law was passed in New Jersey
New York ask where they can go for new technologies, known as the “New Jersey Site
we want them to say, ‘Why not go across the river?’” Remediation Reform Act.” Prior to this
Opportunities for partnership with Stevens for new legislation, virtually all remediation
technology commercialization are abundant and cases in New Jersey required some form
available to New Jersey businesses and entrepreneurs of direct oversight involving the New
alike. For more information on how you can be part of Jersey Department of Environmental
the Technogenesis experience at Stevens Institute of
Protection (“NJDEP”). However, under
Technology, contact Dr. Christodoulatos at christod@
stevens.edu.
the new law, many remediation efforts
could be implemented without direct
Patrick A. Berzinski is director of university communications NJDEP oversight. In short, the new law
at Stevens Institute of Technology. encourages environmental consultants to
malcolm Kahn pursue licensure and certification under
MORE NJDEP’s new privatization program. In turn,
Learn more about Stevens Institute of Technology. owners and operators of contaminated
property may now retain certified
consultants to perform the investigation
and remediation work in conformance
Survey with NJDEP’s requirements. Under NJDEP’s
existing program, historically the State
continued from page 5
would review a consultant’s proposal for
Survey Results Highlights: approval, and frequently respond in whole
Business Climate: U.S. companies are more radically affected, with 69 percent sharing a pessimistic or in part with deficiencies or an approval.
outlook while Canadian companies ranked consistently more optimistic relative to the rest of the In contrast, the new law permits the
world. A strong group (30 percent) in the EU/AAAME remain somewhat confident in their local consultant, not the State, to certify that the
economies.
property meets applicable standards. This
Key Technology Trends: Microsoft App. Dev. remains strong in the U.S., but is losing ground in
new legislation is intended to streamline
Canada and EU/AAAME. In 2008, there was a clear emergence for Open Source as well as Mobile
and Wireless Solutions as strategic technologies. the process, and reduce the time of the
Strategic Focus: In 2008, all regions focused on fairly the same strategies, with increased overall remediation process.
attention to sales (ranking as priority from 35 to 55 percent over past three years). Ease of use
and new product areas remained strong priorities (55-60 percent range) over the same period,
demonstrating that innovation in the IT industry remains crucial during crises.
more
Revenue Growth and Exports: Revenue growth was slightly faster in the U.S. and Canada, but
much faster in EU/AAAME.
Click for additional
Financing: The following trends emerged: Companies in EU/AAAME are relatively stable over
information from
past two years, tapping various capital sources, but with a focus on private investment which Giordano, Halleran
represents 50 percent of their capital. Personal investment has decreased radically in North & Ciesla, P.C.
America, especially in Canada where it went from 85 to 36 percent, indicating the significant
indebtedness of IT industry owners is putting pressure on their company’s capitalization. U.S. firms
have increased reliance on friends and family in lieu of VC and personal financing.
“The exceptional degree of globalization in IT firms is also a factor explaining their similarities Marc D. Policastro is a shareholder at
in strategic focus,” Gagnon added. “While national and regional differences remain, with IT Giordano Halleran & Ciesla, P.C. in the
industry executives becoming more cautious (and more pessimistic in the case of US firms), the firm’s Environmental Practice Group.
He can be reached at (732) 224-6507
potential for growth and the stability of technology, market, and financial trends provide a positive or at mpolicastro@ghclaw.com.
context for continued development.”
TechNews | www.njtc.org | July/August 2009 9
10. NJTC CALENDAR
2009 NJTC ANNUAL MEETING Join us immediately following the Annual NEW MEDIA FORUM:
July 16 • 11a.m. – 2 p.m. Meeting for a presentation by NJTC Preferred EXAMINING THE TECHNOLOGIES
Forsgate Country Club Providers: Maloy Risk Services, PSEG, and AND CAPITAL THAT DRIVE NEW MEDIA
375 Forsgate Dr., Monroe Township PAETEC. July 23 • 3:30 to 7 p.m.
Members $60 Alcatel-Lucent, 600 Mountain Ave., Murray Hill
No Walk Ins - Must be Pre-registered BREAKFAST BYTES Members $25 Non-Members $60
Members only—NOT A MEMBER? Join today! July 22 • 8:30 to 10 a.m. Don’t miss this opportunity to see the view
Don’t miss this unique opportunity to hear from Ponzios Diner, 7 West Route 70, Cherry Hill from the year 2020. This event will examine
regional industry leaders about their current Members $20 Non-Members $40 the latest technologies with two panels:
and future trends. This event is a true who’s Networking is on the menu for this breakfast “Converging Media & Emerging Technologies
who of technology and one that you won’t event!. This is a great way to find new people Landscape” and “Managing Through the Storm:
want to miss! Following lunch at 12:15 p.m., in the technology community and connect with What are the new consumer electronics
there will be a panel discussion including: people you’ve always wanted to meet. products that are emerging? What digital
Dennis Bone, president – Verizon; Jassi Chadha, technologies are key to content virtualization?
head of Analytics Practice, Cognizant; Bill Kroll, What changes does Internet video distribution
chairman and CEO - Matheson Tri-Gas; Dr. RSS FEED have on traditional distributors, such as cable
Ganesh Skandan, CEO - NEI Corporation; Fred TV and satellite operators, cable programmers,
Get the latest news on NJTC events with
Fritz, CEO, Neuro Diagnostic Devices and Govi broadcasters and Hollywood?
the NJTC RSS feed. Visit www.njtc.org
Rao, chairman, Lighting Science Group. to add the feed to your favorites. Join us for a look at the impact of emerging
digital technologies and the disintermediation
that the Internet is creating in the media
distribution space.
4 p.m. - New Media Products/Services
Competition Presentations
Deadline for entries is July 9
4:30 p.m. – Converging Media panel discussion
5:30 p.m. - Venture Investor panel discussion
INNOVATIVE PROGRAMS THAT
FOSTER STEM CAREERS (SCIENCE,
TECHNOLOGY, ENGINEERING & MATH)
July 28 • 4 to 6 p.m.
Rutgers University, Piscataway
Members $25 Non-Members $60
Speakers include:
Dunbar Birnie, Materials Science and
Engineering, Rutgers University
James Morgan, Science Education Program,
Is your technology related to Renewable Energy, Princeton Plasma Physics Laboratory
Bill Kroll, CEO, Matheson TriGas
Controlled Environment Agriculture, Water Resources A representative from NJ Public High Schools
or Waste Management? The most lasting stimulus to the economy
of the United States will be “stim-novation”
Do you need an environment with special -- the investment our nation makes in shaping
the emerging generation of innovators who
capabilities to grow your business? will discover, invent and commercialize new
technologies that move the world toward a
Are you seeking opportunity in a State with the resources better future. Recognizing this, the NJTC will
and passion to mentor your business aspirations? present a program which highlights on-going
efforts around the state that focus on STEM
initiatives as well as announcing a new one.
NEW JERSEY AND RUTGERS UNIVERSITY
CIO / IT SCHMOOZING AT THE SHORE
ARE HERE TO PROVIDE YOU WITH Aug. 6 • 2 to 5:30 p.m.
OPPORTUNITIES FOR FUTURE SUCCESS The Breakers on the Ocean
1507 Ocean Ave., Spring Lake
Members $75 Non-Members $150
Contact the Rutgers EcoComplex to discuss your business vision. Featured Speaker: Kate Nasser, The
Mark Galgano People-Skills Coach, President, CAS, Inc.
If you haven’t heard Kate speak before you
(609)499–3600 ext. 229 will be very pleased to hear her now. She
galgano@aesop.rutgers.edu http://ecocomplex.rutgers.edu/ is a wise, feisty, funny, practical, and deeply
experienced service and teamwork consultant
10 TechNews | www.njtc.org | July/August 2009
11. known as the “People-Skills Coach.” She will you’ll be entered in a drawing to win an iPod to attend and bring their HR leaders to join the
lead a “30-Minute Treasure Hunt to Great courtesy of Fry Communications. discussion.
Teamwork.” Join us to discover the buried
gems of teamwork that inspire all to contribute. CEO SQUARETABLE . . . REGIONAL COMMERCIALIZATION
Experience the wealth and riches of targeted Oct. 20 • 8 to 10:30 a.m. CONFERENCE
teamwork and how to easily inspire vibrant Deloitte, 750 College Road East, Princeton Dec. 10
commitment to your organization. Members: No charge Non-Members $35 Potter Anderson & Corroon LLP
This fun program will be followed by NOTE: Open to Technology Companies ONLY 1313 N. Market St., Wilmington, Del.
cocktails and hors d’oeuvres by the sea! This Squaretable, supported by TriNet HR Members $60 Non-Members $120
NOTE: The theme of this program is “Your Corporation, will focus on “HR Best Practices in
Favorite Sports Team!” Dress to impress and a Recession and Beyond.” CEOs are encouraged
For updated information or to register for NJTC events, visit www.njtc.org
NETWORKS IT/Software
Patron Sponsors:
Telecommunications/Media
Patron Sponsor:
CIO Peer Network
Patron Sponsors:
NJTC Industry Networks present programs
about opportunities and challenges facing NJ TD Bank, N.A. • Edison Venture Fund Sonnenschein Venture Technology Group Budd Larner • Oracle
technology companies by industry segment. Lowenstein Sandler, PC Verizon New Jersey Contact:
Stevens & Lee, PC Contact: Karen Lisnyj • Ext 229
Electronics and WithumSmith+Brown Paul Frank • Ext 222 karen@njtc.org
Advanced Manufacturing Contact: pfrank@njtc.org
Patron Sponsors: Leo Mennitt • Ext 227 Rachel Nicometi • Ext 237 Government Affairs
Amper Politziner & Mattia lmennitt@njtc.org rnicometi@njtc.org Patron Sponsor:
Woodcock Washburn LLP Judy Storck • Ext 246 Duane Morris
Contact: jstorck@njtc.org NJTC Peer Networks bring together like-minded Contact:
Paul Frank • Ext 222 technology professionals to share common Karen Lisnyj • Ext 229
pfrank@njtc.org Life Sciences issues, learn best practices and gain perspective karen@njtc.org
Rachel Nicometi • Ext 237 Patron Sponsor: across all technology industry segments.
rnicometi@njtc.org Duane Morris Venture Capital and Financing
Contact: CEO Forum Patron Sponsors:
Enviro-Energy Industry Meredith Cooper • Ext 234 Patron Sponsors: Fox Rothschild LLP
Patron Sponsors: mcooper@njtc.org Deloitte • Morgan Lewis PricewaterhouseCoopers LLP
Atlantic City Electric • Blank Rome Joan Praiss • Ext 231 Contact: Contact:
Morgan Lewis • Weiser jpraiss@njtc.org Karen Lisnyj • Ext 229 Ellen Stein • Ext 228
Woodcock Washburn karen@njtc.org ellen@njtc.org
Contact: Nanotechnology
Paul Frank • Ext 222 Patron Sponsors: CFO Peer Network Women in Technology
pfrank@njtc.org Woodcock Washburn LLP Patron Sponsors: Contact:
Ellen Stein • Ext 228 Contact Cowan, Gunteski & Co. Joan Praiss • Ext 231
ellen@njtc.org Paul Frank • Ext 222 Cushman & Wakefield jpraiss@njtc.org
pfrank@njtc.org HeartSTONE Group • Morgan Lewis
Meredith Cooper • Ext 234 PSEG • Wachovia
mcooper@njtc.org Contact:
Rachel Nicometi • Ext 237
rnicometi@njtc.org
Managed Services
Professional Services
Carrier Services
Managed Hosting
856.210.5800
www.ancero.com
TechNews | www.njtc.org | July/August 2009 11
12. See what you’ve
missed at some exciting
NJTC PHOTO GALLERY recent NJTC events!
Congratulations!
The New Jersey Technology Council
held the 2009 CFO Awards Breakfast
at the Forsgate Country Club in
Monroe on June 12. This annual event
recognizes the accomplishments of
financial executives from New Jersey
and the surrounding region’s diverse
technology companies. The keynote
speaker was John H. Johnson, chief
executive officer of ImClone Systems
(a wholly owned subsidiary of Eli Lilly
& Company.) The honored winners
were, from left, CFO OF THE YEAR -
Richard DeSimone, Co-Founder, CFO
and director, EKR Therapeutics; DEAL
OF THE YEAR - Kenneth Zuerblis,
Former senior vice president and CFO,
ImClone Systems Inc. (a wholly owned
subsidiary of Eli Lilly & Company);
FINANCIER OF THE YEAR - Donald
Caldwell, CEO, Cross Atlantic Capital
Partners; and HALL OF FAME - Art
Finnel, CFO, Phytomedics.
What’s
Next
in IT?
This exciting IT/Software program held at
Rider University brought together industry
thought leaders to share their views on
what is on the horizon for IT companies
and users. Additionally four companies
were recognized as “Visionary Companies
of 2009.” Visionary Company Presentations
were made by: Jeanne Barnett, Medrise.
com, Dave Roth, MISI Company, Jeff Schott,
Marlabs Inc. and Stephane Gaouette,
Amadeus a division of DECIMAL. (Also
recognized was ESI Technologies.)
12 TechNews | www.njtc.org | July/August 2009
13. GOVERNMENT AFFAIRS
ACCOUNTING Q&A
N.J.’s Outer Continental Shelf:
Q Will the proposed new revenue
recognition (EITF Issue 08-1) rules
Great Promise for
have a significant impact on tech
companies?
Yes: If issued, EITF Issue 08-1,
Energy Independence A Revenue Arrangements with Multiple
Deliverables would significantly change
revenue recognition rules for the
multiple deliverable arrangements typical in the
tech industry. The EITF hopes to have this new
standard in place for use by January 2010.
BY ERIC E. MARTINS Tech companies’ sales arrangements are often
P
characterized by having multiple deliverables. In
ermission has been granted to four companies to start order to recognize revenue for delivered items
exploring whether it’s practical to harness wind off the Harnessing in partially completed sales, companies often opt
coast of New Jersey and Delaware. Last month, U.S. for economically sub-optimal sales and pricing
Interior Secretary Ken Salazar awarded five leases to wind energy policies in lieu of the less desirable alternative
– deferring all revenue until the last product or
the four companies who want to develop windmills along the
Outer Continental Shelf. could mean service is delivered.
If issued, EITF Issue 08-1 would replace and
“This is tremendous news for New Jersey and I thank
Secretary Salazar and the Obama Administration for issuing thousands significantly change EITF Issue 00-21. Currently, in
order to recognize revenue for delivered products
these leases which are so critical to getting the development
of our offshore wind turbine projects underway,” Governor of new, and services, companies are required to obtain
sufficient evidence of fair value of the undelivered
Jon S. Corzine said. “New Jersey’s Outer Continental Shelf products and services. This commonly involves
is a resource that holds great promise for our energy high-tech establishing vendor specific objective evidence
independence and should be considered a haven for the clean, (VSOE) of fair value of the undelivered products
renewable and environmentally friendly energy that wind jobs for or services, a complicated process which can
power provides.” involve establishing economically restrictive
Gov. Corzine’s Energy Master Plan lays out an aggressive New Jersey. pricing policies and deal structures. The EITF has
strategy to harness offshore energy resources located on the proposed eliminating the requirement to establish
fair value of undelivered products or services and
Outer Continental Shelf. In the plan, the governor set a goal
instead require separate revenue recognition
for the state to have 3000 MW of offshore wind constructed off the New Jersey coast by 2020, and
based on management’s estimated selling prices
1000 MW by the end of 2013. The Board of Public Utilities (BPU) has awarded $12 million in rebates of the separate deliverables, assuming the other
to three offshore wind developers ($4 million to each developer) to meet these goals. criteria of EITF Issue 08-1 are met. These other
Other recommendations in the governor’s Energy Master Plan include maximizing the state’s criteria are largely carried forward from EITF 00-21
energy conservation and energy efficiency to achieve reductions in energy consumption of at least 20 intact, and include establishing stand-alone value
percent by 2020; reducing peak demand for electricity by 5,700 MW by 2020; achieving 30 percent of of the delivered items among other items. The
the state’s electricity needs from renewable sources by 2020 and investing in innovative clean-energy elimination of the requirement to establish fair
technologies and businesses to stimulate the industry’s growth in New Jersey. value represents a significant change in practice
Gov. Corzine recently signed legislation to help achieve those goals. He authorized the BPU to use because many companies would no longer be
Retail Margin Fund monies to provide grants for combined heat and power production. He has also required to establish VSOE in order to recognize
required developers to offer solar energy systems in certain new home construction and permitted the revenue.
location of certain wind and solar facilities in industrial zones. The governor also signed the Energy EITF Issue 08-1 would apply to tech companies
that are not subject to Statement of Position
Savings Improvement Plan into law, making it easier for municipalities, among other entities, to
(SOP) 97-2, Software Revenue Recognition. This
retrofit municipal buildings and schools with energy-saving measures with no up-front costs.
includes many hardware companies, as well as
In 2007, Gov. Corzine signed an executive order to mandate a 20-percent reduction in greenhouse software companies that follow a software-as-a-
gas emissions by 2020, and an 80-percent reduction by 2050. Just over a year ago, he signed a
service or SaaS delivery model.
bill into law enabling New Jersey to participate in the Regional Greenhouse Gas Initiative, the first
mandatory cap-and-trade program in the nation for carbon dioxide.
All of these measures will result in the creation of thousands of “green” jobs for residents in areas
that include installation, construction, maintenance and energy operations.
“We have taken a giant step forward to enhance energy security for the region and our nation” Gov. MORE
Corzine said. “That means thousands of new, high-tech jobs for New Jersey -- the jobs of the future, Click for additional
where workers will construct and install the energy production capacity for generations to come. information from
“I look forward to working with Secretary Salazar and the Obama Administration as we move this BDO Seidman, LLP.
country toward a more responsible energy future -- one that develops offshore renewable energy,
ensures the protection of our natural resources, and moves our nation toward energy independence.” Mark J Giamo, CPA, is an Audit Partner
at BDO Seidman, LLP in Woodbridge, NJ
Eric E. Martins is managing director of the Duane Morris Government Affairs New Jersey office. He www.bdo.com. He can be reached at
can be reached at emartins@dmga.com. mgiamo@bdo.com or 732-734-1033.
TechNews | www.njtc.org | July/August 2009 13
14. NJTC NEW MEMBERS
Electronics, Advanced Materials local municipalities and the federal Chemisolutions Renewals
& Manufacturing government. Summit ACIN - Camden Center
Folded Structures Company, L.L.C. www.chemisolutions.com www.acincenter.org
Ringoes Interactive Media Associates Biotechnology company specialized in AK Systems, Inc.
www.foldedstructures.com Parsippany nano nutrients, nano active ingredients www.aksystems-inc.com
Engineering services and software www.imediainc.com and nano herbal extracts. AMBLER Growth Strategy Consultants,
for designing mosaic-like folding Web development and marketing Inc. • www.thegrowthstrategist.com
architectures, for the packaging, building company specializing in optimal user Valeritas BDO Seidman, LLP • www.bdo.com
materials, transportation, aerospace, experiences with eCommerce and other Parsippany Bezwada Biomedical, LLC
and other industries, with diverse highly functioning websites. www.valeritas.com www.bezwadabiomedical.com
applications including efficient cores A medical technologies company Brookman, LLC • www.brookman.com
for structural-panels, energy absorbing Maintech committed to developing and CAE Associates Inc. • www.caeai.com
materials, and deployable structures. Cranford commercializing innovative drug Common Ground Recycling Inc.
www.maintech.com delivery systems and initial focus on the www.commongroundrecycling.com
Hycrete Inc. An independent service organization treatment of diabetes. Datamatics (America) Inc
Carlstadt delivering single-source vendor neutral www.datamatics.com
www.hycrete.com IT infrastructure support services to the Service Providers – Ennova MedChem Group, Inc.
Produces an environmentally friendly corporate enterprise marketplace. Business Consultants www.ennovamedchem.com
admixture that integrally waterproofs Enter Cap Partners LLC GCEMarkets, Inc.
concrete used in commercial Quality Technology Services Haddonfield GeniusDesigns.com
construction. Jersey City www.entercap.net www.geniusdesigns.com
www.qualitytech.com Assists leaders and their teams to Green Gap Solutions (fka Nu Lumen)
Enviro/Energy A full-service technology infrastructure clarify and execute business strategies IntegriChain, Inc. • www.integrichain.com
GreenPrimate, Inc. (dba company providing managed services, by offering an integrated approach to Logistic Solutions Inc.
Timbookz)Bordentown data center services, media services and clarifying strategy, increasing executive www.logistic-solutions.com
www.timbookz.net professional services to businesses. teamwork, developing an execution Montclair State University
Provides energy management, energy plan and managing the necessary www.montclair.edu
audit and efficiency and climate change SpectraMD, Inc. organizational changes. NeuroTrax Corporation
consulting services. Princeton www.neurotrax.com
www.SpectraMD.com KNS Development LLC New Market Translations, LLC
Information Technologies Facilitates the meaningful adoption of Morris Plains www.NMTRANS.com
Conversion Technologies electronic health records by hospitals www.knsdllc.com Power Survey Company
International, Inc. and physician practices. Provides technical financial services www.powersurvey.com
Mt. Laurel including detailed financial models and PR Newswire • www.prnewswire.com
www.ctiimage.com RevTrax market research reports. Professional Podcasts LLC
Provides of imaging, backfile conversion, New York www.professionalpodcasts.com/
electronic document, forms processing, www.RevTrax.com Service Providers – HR PTC Therapeutics, Inc.
bar code reading and color scanning A technology-empowered marketing Integrated Resources, Inc. www.ptcbio.com
services. company which drives and track online Edison Quality Technology Services
advertising to in-store redemptions. www.irionline.com www.qualitytech.com
CTS Partners – Lebanon Professional staffing firm specializing Redpoint Bio Corporation
www.ctspartners.net TechnDyne, LLC in contract, consulting and full time www.redpointbio.com
An IT consulting firm that focuses Wayne positions in the area of clinical, rehab, Sequent • www.sequent-tech.com
on strategic consulting, project www.technodyne.net nursing and IT. Smarter Agent • www.smarteragent.com
management and IT support services, An innovative IT consulting, solutions TDI Power • www.tdipower.com
specializing in improving IT service and services firm. Service Providers – Marketing Tekmark Global Solutions LLC
delivery using ITIL, TQM, Six Sigma, and SSPR www.tekmarkinc.com
related methodologies. Wideband Technologies Princeton The Law Office of Robert M. Mark, LLC
Brick www.sspr.com www.robmarklaw.com
CyberConsulting, LLC – Metuchen www.wb-tech.com Full service public relations firm with TheAdmins • www.TheAdmins.com
www.cyberconsulting.us A nationwide telecommunications offices in Chicago, Palo Alto, Princeton, TNT Information Systems
Provides risk management and and IT infrastructure consulting firm and Colorado Springs. www.tntinfo.com
information security consulting by that specializes in CISCO-based TriNet HR Corporation • www.trinet.com
provisioning the function of chief convergence, collaboration, networking Service Providers – Venture Capital
security officer on a retainer basis to and information security integration. National Association of Seed and
small and mid-sized companies that do Venture Funds
not wish to staff this position full time. xCypher Philadelphia, Pa.
Newark www.nasvf.org AUDIO
Doublebridge Technologies www.xcypher.com NASVF promotes investments in Why join or renew your NJTC
Princeton A software company developing seed and early-stage companies by membership? Listen to a
www.doublebridge.com innovative video encoding solutions for supporting entrepreneurship and job membership testimonial.
Provides integration and consulting the efficient distribution of content over creation through the formation of
services to various sizes of companies web and mobile networks. innovation capital programs. Joining the NJTC
in pharmaceutical, healthcare, financial, Paul Frank
telecommunication and consumer Life Sciences Telecommunications Ext 222 • pfrank@njtc.org
product industries. Aton Pharma Inc. Opencon Systems, Inc. Membership Associate
Lawrenceville Piscataway Ellen Stein
Integrated Technology www.atonrx.com www.opencon.com Ext 228 • ellen@njtc.org
Strategies, Inc. Global specialty pharmaceutical company Communications solution provider
Voorhees involved in providing medically essential specializing in the development of Membership Services
www.itstrategiesinc.com treatments for serious and potentially data and telecommunications system Judy Storck
Provide IT services to corporations, life threatening medical conditions. solutions and applications. Ext 246 • jstorck@njtc.org
14 TechNews | www.njtc.org | July/August 2009
