Bill Text: NJ AR158 | 2016-2017 | Regular Session | Introduced
Bill Title: Supports application by Institute for Life Science Entrepreneurship at Kean University for funding from US Economic Development Administration.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2016-06-23 - Introduced, Referred to Assembly Higher Education Committee [AR158 Detail]
Download: New_Jersey-2016-AR158-Introduced.html
Sponsored by:
Assemblyman JAMEL C. HOLLEY
District 20 (Union)
SYNOPSIS
Supports application by Institute for Life Science Entrepreneurship at Kean University for funding from US Economic Development Administration.
CURRENT VERSION OF TEXT
As introduced.
An Assembly Resolution supporting the application by the Institute for Life Science Entrepreneurship at Kean University for funding from the United States Economic Development Administration.
Whereas, The Institute for Life Science Entrepreneurship (ILSE) at Kean University is both a technology-accelerator and a science-driven research institute that works in partnership with institutions of higher education to attract innovators, entrepreneurs, investors, and business leaders for the purpose of improving human health and wellness; and
Whereas, While pharmaceutical and biotechnology industries rely on academia for early innovation, academic institutions often lack the resources and infrastructure to translate early innovation into commercially-focused research and development programs; and
Whereas, To address this gap, the ILSE proposes to create a world-class Accelerator program at the Institute for Life Science Entrepreneurship at Kean University to provide support and business training to early entrepreneurial pharmaceutical, medical device technology, and biotechnology ventures; and
Whereas, The Accelerator would enhance the commercial opportunity of early innovations through customer and business model development, facilitated by intensive coaching and support from successful entrepreneurs and topic experts; and
Whereas, Fostering a process for life science development by encouraging and enhancing investment and entrepreneurism is key to long-term regional growth in the life sciences field; and
Whereas, In 2016, the ILSE filed an application for grant funding from the United States Economic Development Administration to develop the ILSE Accelerator for life science ventures and to establish the ILSE Seed Fund to support early-stage life science companies in the State of New Jersey; and
Whereas, The General Assembly of the State of New Jersey, therefore, finds it fitting and proper to support ILSE's application for funding from the United States Economic Development Administration to spur innovation in the life sciences field, and as a result improve the health of countless Americans; now, therefore;
Be It Resolved by the General Assembly of the State of New Jersey:
1. The General Assembly of the State of New Jersey supports the application by the Institute for Life Science Entrepreneurship at Kean University for funding from the United States Economic Development Administration.
2. Copies of this resolution, as filed with the Secretary of State, shall be transmitted by the Clerk of the General Assembly to the United States Assistant Secretary of Commerce for Economic Development in the United States Department of Commerce.
STATEMENT
This resolution expresses support for the Institute for Life Science Entrepreneurship's (ILSE) application for funding from the United States Economic Development Administration, a bureau of the US Department of Commerce. The ILSE works in partnership with institutions of higher education around the region to attract innovators, entrepreneurs, investors, and business leaders for the purpose of improving human health and wellness.
The ILSE proposes to create a world-class Accelerator program at Kean University to provide support and business training to early entrepreneurial pharmaceutical, medical device technology, and biotechnology ventures. Fostering a process for life science development by encouraging and enhancing investment and entrepreneurism is significant to the growth of the life sciences field in the State. Therefore, the General Assembly of the State of New Jersey finds it fitting and proper to support ILSE's application for funding to ultimately improve human health.
