The New Jersey Economic Development Authority (NJEDA) Board recently approved a $12.55 million commitment into two Strategic Innovation Centers (SICs) focused on medical technology and maternal health, facilitating startup creation and bolstering New Jersey’s innovation ecosystem. The New Jersey Accelerator for Innovation in Medtech (NJ AIM), a multi-location SIC in Camden and Mullica Hill, will support the research, development, and commercialization of novel medical technologies and devices. The New Baby New Jersey SIC, which will be located in Trenton’s Maternal and Infant Health Innovation Center (MIHIC), will assist early-stage companies advance groundbreaking maternal and infant health solutions.
“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.”
The NJ AIM and New Baby New Jersey SIC programs, managed by Plug and Play, will include a combination of services, including workshops, mentorship sessions, business development services, education opportunities, access to unique equipment and industry partners, and investment opportunities. The programs will accelerate two cohorts of startups per year comprised of no less than 20 independent companies per cohort in both Camden and Trenton. 20 percent of participating companies must be from New Jersey, and the remaining participants will include companies from out of state that may relocate to New Jersey with support from resources that support early-stage startups, such as NJ Accelerate.
The NJEDA will commit up to $5.5 million to invest in NJ AIM and New Baby New Jersey SIC companies and $2.25 million, matched by SIC partner Rowan University, to support the accelerator programs. Additionally, the NJEDA will invest $1.5 million in a new venture studio operated by NLC Ventures, a leading global venture builder in health technology, which will support the development of new medtech and maternal health companies in the state. The NJEDA will reserve $3 million for an early-phase maternal and infant health pre-venture development and early-stage initiative located in Trenton to include programmatic and technical support administered by a third-party.
“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.”
The NJ AIM SIC will encompass 8,500 square feet of space within two locations in Camden: the Joint Health Sciences Center and the Cooper Medical School of Rowan University. It will also have space on Rowan University’s West Campus in Mullica Hill, alongside the Shreiber School of Veterinary Medicine. The SIC will include comprehensive laboratory, diagnostic, and testing spaces for research and development of new technologies in a collaborative environment. Cooper University Health Care will serve as the anchor commercial affiliate and the Rowan Foundation will invest in select participating accelerator companies.
“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 New Baby New Jersey SIC will include 5,000 square feet of space within the MIHIC. In collaboration with public and private stakeholders, the location will provide first-in-class research and development focused on maternal health care, driving breakthrough solutions in maternal care equity, digital health, doula support, perinatal mental health, and public benefits access. The SIC will further the state’s national leadership in maternal and infant health innovation, leveraging startups, academic institutions, public agencies, and community voices to advance maternal health equity and inventive medical technologies.
“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.”
With over 60 offices globally and partnerships with more than 550 corporations, Plug and Play runs more than 100 accelerator programs annually across sectors like AI, fintech, health, and energy. The NJEDA previously partnered with Plug and Play on the Fintech Accelerator at Stevens Institute of Technology (NJ FAST), a financial technology and insurance technology SIC.
“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 and Play Partner and Chief Revenue Officer Michael Olmstead. “Plug and Play is proud to partner with NJEDA, Rowan University, and Cooper University Health Care to give founders what they need to scale: deep clinical and academic collaboration, hands-on commercialization support, and direct pathways to customers and capital.”
SICs are facilities that support research and development, innovation, and entrepreneurship through mentorship, networking opportunities, hands-on training, business support services, and education opportunities. SICs can be accelerators, incubators, or research centers. Having a physical location where entrepreneurs can collaborate will help support new, diverse innovators and help drive long-term economic growth.
The NJEDA has announced investments into 12 SICs in New Jersey, focused on industries such as artificial intelligence, fintech, aerospace, life sciences, and biotech. To learn more about the NJEDA’s SIC initiative, visit https://www.njeda.gov/strategic-innovation-centers/.
About the NJEDA
The New Jersey Economic Development Authority (NJEDA) serves as the State’s principal agency for driving economic growth. The NJEDA is committed to making New Jersey a national model for inclusive and sustainable economic development by focusing on key strategies to help build strong and dynamic communities, create good jobs for New Jersey residents, and provide pathways to a stronger and fairer economy. Through partnerships with a diverse range of stakeholders, the NJEDA creates and implements initiatives to enhance the economic vitality and quality of life in the State and strengthen New Jersey’s long-term economic competitiveness.
