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Collaboration is Keyat Stevens—A National Centerof Research Excellence

Stevens students learn the cutting-edge technical solutions & effective paths to commercializing technology.

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

http://Howe.Stevens.edu

[email protected]

201-216-5381

Stevens' commitment to innovative and entrepreneurial results has produced illustri-ous graduates like Frederick Taylor and Henry Gantt and is continuing to produceworld class technologists and engineers from continuous engagement with thousandsof alumni, students and faculty.

Stevens offers a comprehensive curriculum in Entrepreneurship, including anEntrepreneurship Minor and a unique undergraduate program in Business &Technology. Stevens undergraduate students must also complete a Senior DesignProject with gives them the opportunity to create new technology and explore how itcan best be commercialized. Stevens also offers a broad array of graduate level programs in Technology Management, including a Master of Science inManagement with Technology Commercialization Concentration and a GraduateCertificate in Entrepreneurial Information Technology.

Stevens has been at the forefront of innovation andentrepreneurship since the late 1800s.

Programs delivered on campus in Hoboken, online, or at your corporate location.

Founder Edward A. Stevens was raised in a family of inventors and entrepreneurs who transformed their inventions into a number of successfulenterprises, including the first steam-driven locomotive in the U.S. in 1826.

TN_JulyAug2009.indd 2TN_JulyAug2009.indd 2 7/8/09 10:22:39 AM7/8/09 10:22:39 AM

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VP OF PUBLICATIONSLeo M. Mennitt • [email protected]

SENIOR EDITORBari Faye Siegel • [email protected]

GRAPHIC DESIGNERBonnie Jacobs • [email protected]

MULTIMEDIA PRODUCER Rachel Nicometi • [email protected]

3TechNews | www.njtc.org | July/August 2009

On the Cover 6 Stevens Institute of Technology: New Jersey’s Technogenesis® Powerhouse By Patrick A. Berzinski Stevens Institute of Technology prides itself on its collaborative, entrepreneurial R&D-and-

learning environment, called Technogenesis. It is an intellectual frontier — where faculty, students and industry jointly nurture research technology concepts to commercialization. More than traditional technology transfer, it is part of the Stevens educational experience and creates a climate of innovation and enterprise across the campus.

New Jersey TechNews is published by the New Jersey Technology Council and The Education Foundation. We are located at 1001 Briggs Road, Suite 280, Mt Laurel, N.J. 08054. ©2009 NJTC. All rights reserved. Reproduction or use, without permission, of editorial or graphic contents in any manner is prohibited. To obtain permission, contact editor Bari Faye Siegel at [email protected].

New Jersey TechNews is published 10 times a year and is free to all NJTC members. Unqualifi ed subscribers pay $29.99 per year, $39.99 for two years. Reprints are available for a fee upon request. For more information on the New Jersey Technology Council, see www.njtc.org.

To contact a staff member, see the staff box for email addresses. Submissions for New Jersey TechNews are welcome. All editorial copy published is at the discretion of the editor. Send submissions to [email protected]. The views expressed in New Jersey TechNews do not necessarily refl ect those of the New Jersey Technology Council or New Jersey TechNews.

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July/August 2009 • VOL. 13 NO. 6New Jersey Technology Council

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fax (856) 787-9800www.njtc.org

PRESIDENT’S MESSAGE

When the American Recovery and Reinvestment Act of 2009 was approved by Congress and signed into law by President Barack Obama in February, all of us in the business community were hopeful that some of the funding would trickle down to the companies committed

to innovation in the science and technology sectors. It’s exciting to learn that, in fact, this is coming to pass!

In fact, there are two new grant programs that may prove to be very helpful for high-tech small businesses – both are aimed at accelerating innovation.

The Small Business Catalyst Awards for Accelerating Innovative Research is a new grant program from the National Institutes of Health (NIH). If your

company is focused on addressing major biomedical or behavioral challenges with the potential for downstream commercial development, you owe it to your team to find out about this program. This grant application is due Sept. 1, 2009.

A second program that may be of interest is the Biomedical Research, Development, and Growth to Spur the Acceleration of New Technologies (BRDG-SPAN). This program also seeks to accelerate the transition of research to the development of products or services that will improve human health and create economic growth. The grant program is intended to help address the funding gap, often called the “Valley of Death,” between research success and the introduction of new products to the market.

My favorite part of this program is that it aims to foster partnerships among a variety of research collaborators. This grant application is due Sept. 1, 2009.

For more information about these grants and other recovery act initiatives, visit http://grants.nih.gov/recovery. Also, in the interest of collaboration, don’t forget to check out the NJTC Calendar of Events often and join us for an upcoming program. You never know, you just might meet your next strategic partner or valuable client.

—Maxine Ballen, NJTC President & CEO

New Grant Programs for Small Tech Companies

Features 4 Green World New Jersey Invests in Clean Energy Entrepreneurism

5 NJTC IT Industry Survey: Tech Sectors Remain “Vibrant,” Despite Challenges

By Bari Faye Siegel

10 NJTC Calendar of Programs

12 NJTC Photo Gallery

13 NJTC Government Affairs N.J.’s Outer Continental Shelf:

Great Promise for Energy Independence

By Eric E. Martins, Duane Morris

14 NJTC New Members

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TechNews | www.njtc.org | July/August 20094

A new funding resource in support of Gov. Jon S. Corzine’s commitment to promoting economic development and a more secure environmentally responsible energy future for New Jersey was unveiled last month. Known as the Clean Energy Solutions Capital Investment (CESCI) Loan/Grant, the new program was developed to encourage and promote energy efficiency measures within the commercial and industrial sectors and encourage the use of renewable energy while supporting the goals of the Gov. Corzine’s Energy Master Plan.

“Our new financing product will expand the state’s national leadership role in establishing a green economy by ensuring companies have the ‘green’ resources they need to sustain, grow and prosper in New Jersey,” said Caren S. Franzini, chief executive officer of the New Jersey Economic Development Authority (EDA).

Additionally resources will be unveiled over the next several months as part of the state’s Clean Energy Solutions portfolio, which includes partnerships with the Board of Public Utilities (BPU) and the Department of Environmental Protection (DEP).

Gov. Corzine’s Energy Master Plan is one of the most aggressive in the nation, and is aimed at reducing energy consumption by 20 percent and generating at least 30 percent of the state’s energy from renewable sources by the year 2020.

The CESCI Loan/Grant program will support commercial, institutional or industrial entities advancing energy-efficient end-use projects, combined heat and power (CHP or cogen) production facilities, or construction of state-of-the-art, efficient electric generation facilities, including Class I and Class II renewable energy. CESCI will provide zero-interest loans and grants up to $5 million to eligible commercial, industrial or institutional customers, with up to 10-year loan term to fund purchase of fixed-assets (including real estate or equipment).

The loans and grants offered through CESCI are capitalized through the Regional Greenhouse Gas Initiative’s Global Warming Solutions Fund, in partnership with the DEP.

“Using global warming funds to promote energy sustainable projects presents the DEP and the EDA with a unique opportunity to strengthen New Jersey’s economy while creating a cleaner and greener environment,” DEP Acting Commissioner Mark N. Mauriello said.

“The coordination among various state agencies to support energy efficient and renewable energy in New Jersey has helped to establish the 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 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.”

This latest product complements the state’s existing clean energy programs to promote economic development, including the Clean Energy Manufacturing Fund. Businesses interested in Clean Energy Solutions opportunities should visit www.njeda.com in the coming weeks for more information on upcoming products, including a new performance-based grant program to assist combined heat and power facilities to complement the CESCI program, which will be offered in partnership with the Board of Public Utilities.

Edison Innovation Clean Energy FundThe Edison Innovation Clean Energy Fund is a unique funding opportunity

that arose from collaboration between NJ Commission on Science & Technology and the Board of Public Utilities (BPU). It will provide funding in the amount of $100,000 to $500,000 to New Jersey technology companies,

for demonstration projects and developmental and ancillary activities necessary to commercialize identified renewable energy technologies and

innovative technologies that significantly increase energy efficiency. This grant will fund technologies that can demonstrate their integral nature to the development Class 1 renewable energy technologies that produce

or support the production of renewable or clean electricity generation.Funding of demonstration projects will be

open to proposals that seek funding for research, market development, deployment, and technology

demonstrations of innovative products or services that advance the delivery of renewable energy and

energy efficiency technologies. The proposal should demonstrate how any research conducted will contribute to proving the scientific or technical feasibility of the approach or concept proposed.

Companies that are awarded the Edison Innovation Clean Energy Fund by NJCST can

receive up to 20 percent of the approved NJCST grant, not to exceed $100,000, from the NJEDA in

equity-like financing for non-R&D related costs. The application for this fund is Sept. 4, 2009.

Green WorldNew Jersey Invests in Clean Energy Entrepreneurism

NJ EDA Launches Clean Energy Solutions Capital Investment Loan/Grant Program

MORE Download the Edison Innovation Clean Energy Fund Application.


TechNews | www.njtc.org | July/August 2009 5

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BY BARI FAYE SIEGEL

The New Jersey Technology Council announced the results of the long-awaited Fourth Annual Information Technology Industry Survey at the PSE&G Training and Development Center in Edison in June. Overall, the survey identified a number of technologies, markets, and financial trends that reveal the diversity of economic contexts, but also the great similarities in strategic responses internationally.

The Survey, whose objectives are to identify business trends and challenges facing IT companies, and compare strategic responses in various business environments/climates,

was initiated by the NJTC in collaboration with 10 similar organizations from around the world including Canada (Quebec), UK, Ireland, and others in the European Union, Africa, Central and South Americas, Asia, and Middle East (EU/AAAME).

A web-based methodology was adopted, using a brief 15-items questionnaire administered to members of IT industry associations in various countries. “For each partner organization, membership represented about 10 to 20 percent of local companies, and the response rate was about five to 20 percent of surveyed members, providing representative, significant, and reliable results,” said Prof. Stephane Gagnon of the University of

Quebec, one of the partner organizations.The results of the study were also released

in Montreal by Gagnon, who said that a total of 185 companies responded, of which 85 from New Jersey. The survey was co-designed by Gagnon and Prof. Katia Passerini from the New Jersey Institute of Technology.

While several issues were addressed, ranging from financial to technology decisions, at least five key findings emerged from an international comparison across the years 2006-2007-2008.

One thing is for certain, “The IT industry remains vibrant in spite of its many business challenges, mainly owing to its innovative drive and ability to renew itself rapidly,” Gagnon said.

NJTC IT Industry Survey: Tech Sectors Remain “Vibrant,” Despite Challenges

See Survey, page 9



Stevens Institute of Technology prides itself on its collaborative, entrepreneurial R&D-and-learning environment, called Technogenesis. Technogenesis is the intellectual frontier, pioneered by Stevens, where faculty, students and industry jointly nurture research technology concepts to commercialization. It is more than traditional technology transfer; it is part of the Stevens educational experience and creates a climate of innovation and enterprise across the campus.

At Stevens, examples abound of students, professors and companies working together – researching, developing and launching new businesses based on the intellectual property of the institute in concert with its external partners.

Dr. Vikki Hazelwood, a professor in the Chemistry, Chemical Biology and Biomedical Engineering Department, is expert at shepherding projects through the Technogenesis process. She brings together engineering researchers and clinical care providers to successfully move these projects “from bench-top to bedside.”

Along the way, “I work with the students and make sure they collaborate with the physicians. Their worlds are so different, they have to learn to communicate,” she says.

One of revolutionary products she has been working on with students eliminates unnecessary surgery by finding the overlooked source of back and neck pain. The product, which has been featured on CBS-TV, NBC’s Today Show and ABC’s Good Morning America, is the basis for the Technogenesis start-up company, SPOC, Inc., which is now headquartered in Stamford, Conn.

SPOC was formed in 2005 by the office now overseen by Stevens’ vice president for Enterprise Development & Licensing. The co-founders are the technology inventors, Dr. Norman Marcus, a leading expert in the field of pain management, and biomed engineering undergrads Jeckin Shah, Ryan Stellar and Daniel Silva. SPOC was conceived at Stevens as a senior design project in Hazelwood’s Biomedical Engineering senior-design class.

SPOC incorporates two technologies, one of clinical methodology and one of device technology, for a combined diagnostic package that allows for a revolution in the accuracy and precision of muscle pain diagnosis. In 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.

In December 2005, Stevens’ officials concluded the $17.5-million acquisition of the Technogenesis startup PlasmaSol by Stryker Corporation.

Stryker’s initial plans were to use PlasmaSol’s non-thermal plasma technology to sterilize medical devices, among other potential biomedical applications. Also in 2005, Stevens launched four new Technogenesis startup companies including Atilla Technologies. These acquisitions and startups were a major affirmation of Stevens’ vision of Technogenesis.

For a technology to prove successful, it must have unique, patent-protected attributes that give it a competitive advantage. To identify and manage promising new technologies, Stevens hired in 2008 a new vice resident for the Research Enterprise, Dr. Joseph Mitola III; created a post for an associate provost of Academic Entrepreneurship, occupied by longtime Stevens

researcher and entrepreneur, Dr. Christos Christodoulatos; and in June 2009 hired Malcolm Kahn as vice president for Enterprise Development & Licensing.

In this capacity, Kahn will be responsible for the full cycle of business development at Stevens, from helping researchers and staff identify markets and technology applications, to the spawning, development and funding of Stevens’ Technogenesis® Companies. He will also be working on establishing a

New Jersey’s Technogenesis® Powerhouse

“We want to be known as the go-to university

for innovative technologies and ideas.”

— Dr. Christos Christodoulatos, associate provost of Academic Entrepreneurship

BY PATRICK A. BERZINSKI

See Technogenesis® Powerhouse, page 9

Stevens Institute of Technology



Stevens’ second annual Research and Entrepreneurship Day highlighted the top-tier technology university’s avowed spirit of “Technogenesis®.” The word is a registered trademark of Stevens, defining the highly entrepreneurial research and education environment that encompasses collaboration by students, faculty and industry partners, who work together to advance laboratory concepts toward significant marketplace applications.

Dr. Christos Christodoulatos, associate provost for Academic Entrepreneurship and director of the Center for Environmental Systems, believes Stevens has been quite successful in differentiating itself from other academic institutions.

“While most science and engineering schools emphasize research and education, Stevens places equal weight on entrepreneurship,” said Christodoulatos.

This is the essence of Technogenesis: Students not only learn to develop new technologies, they create innovations that have practical uses. Stevens’ success in inculcating these values is one of the reasons that Forbes magazine ranked it third among 189 colleges for return on research investment.

The Department of Defense’s only university-affiliated research center in the field, the Systems Engineering

From the invisible microcosm of nano-engineering to the burgeoning macrocosm of complex space-based systems, educational offerings at Stevens Institute of Technology are among the most 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 adoption and perfection of relevant, cutting-edge curricula.

The innovative Stevens undergraduate programs launched in this century include Biomedical Engineering, Business & Technology Management, and Cyber Security. The university has now instituted an undergraduate minor in Green Engineering, carrying forward the pioneering commitment to environmental quality for which Stevens is renowned.

In 2007 Stevens initiated two new schools at its Hoboken campus — the first, the School of Systems & Enterprises (SSE), followed by the College of Arts & Letters. SSE is the outgrowth of the Stevens Department of Systems Engineering & Engineering Management, which grew with rapid success to become one of the largest such programs in the United States after its formation in 2000. SSE provides exclusive professional courses at home and abroad, serving industry and government agencies in the United States, Europe, South Asia, and the Far East.

The school also provides advanced systems engineering education to the United States’ National Security Agency, the Federal Aviation Administration (FAA), and the National Aeronautics and Space Administration (NASA), among other agencies.

The Stevens College of Arts & Letters was founded in recognition of the importance of the arts and humanities in the spectrum of technological studies. Programs in Art, Music & Technology and the History & Philosophy of Science are now permanent features of the university’s undergraduate curriculum.

Pioneering Global EducationStevens provides an award-winning online education component, WebCampus.Stevens.edu, which reaches students around the world with dozens of rigorous graduate courses in science, engineering, and systems and technology management.

Stevens has also been successful in delivering graduate courses in China. These courses are delivered partly online and partly on-site and are presented in collaboration with the Beijing

Institute of Technology and the Central University of Finance and Economics.

Stevens Institute of Technology International (SITI), which represents the first establishment of

BY PATRICK A. BERZINSKI

A National Center of Excellence on the Hudson

Current and Future Innovations Explored During Stevens’ R&E DayBY ALAN S. BROWN

See Stevens’ R&E Day, page 8

Dr. Kishore Pochiraju investigates an intelligent robotic vehiclebuilt by a student team.

Professor Rainer Martini points the direction travelled by his mid-infrared lasers on the roof of the Burchard Building.See National Center, page 8



a university outside the United States based on the Stevens model, is located in Santo Domingo, Dominican Republic, and is strongly endorsed by that nation’s innovative president.

President Harold J. Raveché of Stevens Institute of Technology has also initiated talks with the South Korean government to establish a university on the Stevens model in the fast-expanding port city of Pyeongtaek, located just southwest of Seoul.

Founded in 1870 on a 55-acre estate in Hoboken, N.J., Stevens Institute of Technology has grown to become one of the leading technological universities in the world dedicated to learning and research. It offers broad-based curricula designed to nurture creative inventiveness and cross-disciplinary communities.

Stevens is in the forefront of global challenges in engineering, science, complex systems, and technology management. Partnerships and collaborations with business, industry, government, and other universities contribute to the enriched environment at Stevens.

In addition, Technogenesis®, the mature model created by Stevens for technology commercialization in academe, involves external partners working with undergraduates and faculty to develop and launch technology enterprises that create broad opportunities and shared value.

In recognition of its continuing successes, Stevens has been ranked by Forbes.com at No. 3 among 189 U.S. research universities for the high percentage of return on its research investment.

National Centers of Excellence on the HudsonStevens received an award in 2008 as the first Department of Defense-funded University Affiliated Research Center (UARC) focused on Systems Engineering Research, embodied in Stevens’ Systems Engineering Research Center (SERC), which will be based both in Hoboken and at a strategically located headquarters in Washington, D.C. Stevens’ principal partner in the SERC is the University of Southern California.

Also in 2008, Stevens was chosen by the Department of Homeland Security as one of 11 U.S. research universities to establish five National Centers of Excellence in Homeland Security Research. Based on this designation, Stevens has established the Center for Secure and Resilient Maritime Systems, with a variety of university and industry partners pursuing significant research.

This year, Stevens was re-designated as a National Center of Academic Excellence in Information Assurance Education by the National Security Agency (NSA) for the academic years 2009-2014. Stevens is among the first universities

in the U.S. to be designated by the National Security Agency (NSA) as a National Center of Academic Excellence i n I n f o r m a t i o n Assurance Research for academic years 2008-2013.

The spirit of entrepreneurialism that invigorates all aspects of the environment at Stevens is a vibrant legacy of the Stevens family, whose members played key leadership roles in both the American War of Independence and the American Industrial Revolution. Their concept of an intensive, broad-based technology education, meant to create highly competitive leaders for American industry, is enshrined at the university that Edwin A. Stevens bequeathed to the nation.

At the dawn of the 21st century, that spirit emboldens young leaders to tackle the next American century of globally based competition.

Innovating Cross-Disciplinary CommunitiesIn 2007, leaders at Stevens propounded a long-range Strategic Positioning Plan that serves as a topographical guide to the “New University of the global-technological era.” The establishment of “communities of creative enterprise” across the spectrum of disciplines is the centerpiece of this plan. The continued growth of Stevens as a graduate research institution is also carefully balanced with the recognition that the undergraduate engineering program is the university’s beating heart, which nourishes all the other endeavors.

The Strategic Positioning Plan identifies three major focus areas of education and research for the next century — complex systems and enterprise management and architecture; security technologies, including for maritime, cyber, information, and communications networks; and multi-scale engineering, science, and technology.

Cross-disciplinary communities of faculty, students, and external industry partners are already performing strongly in each of these focus areas.

Going forward, Stevens will continue to execute the bold mission bequeathed by its founder: “To prepare extraordinary young leaders to master the challenges of new technologies, new markets, and new ways of thinking and competing in a constantly changing global landscape.”

Patrick A. Berzinski is the director of university communications at Stevens Institute of Technology. For additional information about Stevens Institute of Technology, visit www.stevens.edu.

Research Center (SERC) is located at Stevens. Dinesh Verma, dean of the School of Systems and Enterprises, spoke about the center and its applications for systems engineering.

“Systems engineering is a practice-oriented field that has been starved of fundamental research,” said Verma. “SERC is collaborating with 17 other universities to fill in the blanks. Our vision is to develop transformational systems engineering methods, processes and tools.”

Michael Bruno, dean of the School of Engineering & Science, described the Stevens National Center of Secure and Resilient Maritime Commerce and Coastal Environment (CSR). Its mission is to improve port and coast security and emergency response when faced with natural hazards and terrorists. More than 100 professionals are involved in CSR’s projects.

“The organization has developed a layered approach to maritime domain awareness,” said Bruno. “This involves integrating different types of sensors to provide a clear picture of harbor activities, day or night, above or under the water.”

The center also is launching a program to improve harbor resiliency, so that its infrastructure can continue to provide goods or services despite a natural disaster or terrorist attack.

Patrick A Berzinski is the director of university

National Center

Stevens’ R&E Day

continued from page 9


Stevens’ Wesley J. Howe Center with a spectacular view of Manhattan



If you own or operate contaminated real estate in New Jersey, is it possible to

cleanup the property without the State of New Jersey’s direct oversight, that is, on a private basis?

Yes. On May 7, 2009, a new law was passed in New Jersey known as the “New Jersey Site

Remediation Reform Act.” Prior to this new legislation, virtually all remediation cases in New Jersey required some form of direct oversight involving the New Jersey Department of Environmental Protection (“NJDEP”). However, under the new law, many remediation efforts could be implemented without direct NJDEP oversight. In short, the new law encourages environmental consultants to pursue licensure and certification under NJDEP’s new privatization program. In turn, owners and operators of contaminated property may now retain certified consultants to perform the investigation and remediation work in conformance with NJDEP’s requirements. Under NJDEP’s existing program, historically the State would review a consultant’s proposal for approval, and frequently respond in whole or in part with deficiencies or an approval. In contrast, the new law permits the consultant, not the State, to certify that the property meets applicable standards. This new legislation is intended to streamline the process, and reduce the time of the overall remediation process.

Marc D. Policastro is a shareholder at Giordano Halleran & Ciesla, P.C. in the firm’s Environmental Practice Group. He can be reached at (732) 224-6507 or at [email protected].

LegaL Q&a

a

Q

more

Click for additional information from Giordano, Halleran & Ciesla, P.C.

Survey Results Highlights:Business Climate: U.S. companies are more radically affected, with 69 percent sharing a pessimistic outlook while Canadian companies ranked consistently more optimistic relative to the rest of the world. A strong group (30 percent) in the EU/AAAME remain somewhat confident in their local economies.

Key Technology Trends: Microsoft App. Dev. remains strong in the U.S., but is losing ground in Canada and EU/AAAME. In 2008, there was a clear emergence for Open Source as well as Mobile and Wireless Solutions as strategic technologies.

Strategic Focus: In 2008, all regions focused on fairly the same strategies, with increased 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.

Revenue Growth and Exports: Revenue growth was slightly faster in the U.S. and Canada, but much faster in EU/AAAME.

Financing: The following trends emerged: Companies in EU/AAAME are relatively stable over past two years, tapping various capital sources, but with a focus on private investment which represents 50 percent of their capital. Personal investment has decreased radically in North 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 in strategic focus,” Gagnon added. “While national and regional differences remain, with IT industry executives becoming more cautious (and more pessimistic in the case of US firms), the potential for growth and the stability of technology, market, and financial trends provide a positive context for continued development.”


Survey

development fund and an Angel Network to help better finance Stevens’ technologies.

Additional technology businesses are now in the works. These range from companies that produce extremely precise optical sensors for border security to a photographic-quality security camera that works in darkness and through snow and rain, and which can also detect chemical agents. Both have major market potential.

“We want to be known as the go-to university for innovative technologies and ideas,” says Dr. Christodoulatos. “When investors or business people in New York ask where they can go for new technologies, we want them to say, ‘Why not go across the river?’”

Opportunities for partnership with Stevens for technology commercialization are abundant and available to New Jersey businesses and entrepreneurs alike. For more information on how you can be part of the Technogenesis experience at Stevens Institute of Technology, contact Dr. Christodoulatos at [email protected].

Patrick A. Berzinski is director of university communications at Stevens Institute of Technology.

Technogenesis® Powerhousecontinued from page 6

MORE

Learn more about Stevens Institute of Technology.

Vikki Hazelwood

malcolm Kahn


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2009 NJTC ANNUAL MEETING July 16 • 11a.m. – 2 p.m.

Forsgate Country Club375 Forsgate Dr., Monroe Township

Members $60 No Walk Ins - Must be Pre-registered

Members only—NOT A MEMBER? Join today!Don’t miss this unique opportunity to hear from regional industry leaders about their current and future trends. This event is a true who’s who of technology and one that you won’t want to miss! Following lunch at 12:15 p.m., there will be a panel discussion including: Dennis Bone, president – Verizon; Jassi Chadha, head of Analytics Practice, Cognizant; Bill Kroll, chairman and CEO - Matheson Tri-Gas; Dr. Ganesh Skandan, CEO - NEI Corporation; Fred Fritz, CEO, Neuro Diagnostic Devices and Govi Rao, chairman, Lighting Science Group.

NJTC CALENDAR Join us immediately following the Annual Meeting for a presentation by NJTC Preferred Providers: Maloy Risk Services, PSEG, and PAETEC.

BREAKFAST BYTESJuly 22 • 8:30 to 10 a.m.

Ponzios Diner, 7 West Route 70, Cherry HillMembers $20 Non-Members $40

Networking is on the menu for this breakfast event!. This is a great way to find new people in the technology community and connect with people you’ve always wanted to meet.

NEW MEDIA FORUM: EXAMINING THE TECHNOLOGIES

AND CAPITAL THAT DRIVE NEW MEDIA July 23 • 3:30 to 7 p.m.

Alcatel-Lucent, 600 Mountain Ave., Murray Hill Members $25 Non-Members $60

Don’t miss this opportunity to see the view from the year 2020. This event will examine the latest technologies with two panels: “Converging Media & Emerging Technologies Landscape” and “Managing Through the Storm: What are the new consumer electronics products that are emerging? What digital technologies are key to content virtualization? What changes does Internet video distribution have on traditional distributors, such as cable TV and satellite operators, cable programmers, broadcasters and Hollywood? 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 PresentationsDeadline for entries is July 94:30 p.m. – Converging Media panel discussion5:30 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 UniversityJames Morgan, Science Education Program, Princeton Plasma Physics Laboratory Bill Kroll, CEO, Matheson TriGas A representative from NJ Public High Schools The most lasting stimulus to the economy of the United States will be “stim-novation” -- the investment our nation makes in shaping the emerging generation of innovators who will discover, invent and commercialize new technologies that move the world toward a better future. Recognizing this, the NJTC will present a program which highlights on-going efforts around the state that focus on STEM initiatives as well as announcing a new one.

CIO / IT SCHMOOZING AT THE SHORE Aug. 6 • 2 to 5:30 p.m. The Breakers on the Ocean

1507 Ocean Ave., Spring Lake Members $75 Non-Members $150

Featured Speaker: Kate Nasser, The People-Skills Coach, President, CAS, Inc. If you haven’t heard Kate speak before you will be very pleased to hear her now. She is a wise, feisty, funny, practical, and deeply experienced service and teamwork consultant

Is your technology related to Renewable Energy, Controlled Environment Agriculture, Water Resources

or Waste Management?

Do you need an environment with special capabilities to grow your business?

Are you seeking opportunity in a State with the resources and passion to mentor your business aspirations?

NEW JERSEY AND RUTGERS UNIVERSITY ARE HERE TO PROVIDE YOU WITH

OPPORTUNITIES FOR FUTURE SUCCESS

Contact the Rutgers EcoComplex to discuss your business vision.

Mark Galgano(609)499–3600 ext. [email protected] http://ecocomplex.rutgers.edu/



For updated information or to register for NJTC events, visit www.njtc.org

Managed Services

Professional Services

Carrier Services

Managed Hosting

856.210.5800 www.ancero.com

NETWORKSNJTC Industry Networks present programs about opportunities and challenges facing NJ technology companies by industry segment.

Electronics and Advanced Manufacturing

Patron Sponsors:Amper Politziner & MattiaWoodcock Washburn LLP

Contact: Paul Frank • Ext 222

[email protected] Nicometi • Ext 237

[email protected]

Enviro-Energy IndustryPatron Sponsors:

Atlantic City Electric • Blank RomeMorgan Lewis • WeiserWoodcock Washburn


[email protected] Stein • Ext 228

[email protected]

IT/SoftwarePatron Sponsors:

TD Bank, N.A. • Edison Venture Fund Lowenstein Sandler, PC

Stevens & Lee, PCWithumSmith+Brown

Contact: Leo Mennitt • Ext 227

[email protected] Storck • Ext 246

[email protected]

Life SciencesPatron Sponsor:Duane Morris

Contact: Meredith Cooper • Ext 234

[email protected] Joan Praiss • Ext 231

[email protected]

NanotechnologyPatron Sponsors:

Woodcock Washburn LLPContact

Paul Frank • Ext [email protected]

Meredith Cooper • Ext 234 [email protected]

Telecommunications/MediaPatron Sponsor:

Sonnenschein Venture Technology GroupVerizon New Jersey


[email protected] Nicometi • Ext 237

[email protected]

NJTC Peer Networks bring together like-minded technology professionals to share common issues, learn best practices and gain perspective across all technology industry segments.

CEO ForumPatron Sponsors:

Deloitte • Morgan LewisContact:

Karen Lisnyj • Ext [email protected]

CFO Peer NetworkPatron Sponsors:

Cowan, Gunteski & Co.Cushman & Wakefield

HeartSTONE Group • Morgan LewisPSEG • Wachovia

Contact: Rachel Nicometi • Ext 237

[email protected]

CIO Peer NetworkPatron Sponsors:

Budd Larner • OracleContact:

Karen Lisnyj • Ext [email protected]

Government AffairsPatron Sponsor:Duane Morris

Contact: Karen Lisnyj • Ext 229

[email protected]

Venture Capital and FinancingPatron Sponsors:

Fox Rothschild LLPPricewaterhouseCoopers LLP

Contact: Ellen Stein • Ext 228

[email protected]

Women in TechnologyContact:

Joan Praiss • Ext [email protected]

known as the “People-Skills Coach.” She will lead a “30-Minute Treasure Hunt to Great Teamwork.” Join us to discover the buried gems of teamwork that inspire all to contribute. Experience the wealth and riches of targeted teamwork and how to easily inspire vibrant commitment to your organization. This fun program will be followed by cocktails and hors d’oeuvres by the sea!NOTE: The theme of this program is “Your Favorite Sports Team!” Dress to impress and

you’ll be entered in a drawing to win an iPod courtesy of Fry Communications.

CEO SQUARETABLE . . . Oct. 20 • 8 to 10:30 a.m.

Deloitte, 750 College Road East, Princeton Members: No charge Non-Members $35

NOTE: Open to Technology Companies ONLYThis Squaretable, supported by TriNet HR Corporation, will focus on “HR Best Practices in a Recession and Beyond.” CEOs are encouraged

to attend and bring their HR leaders to join the discussion.

REGIONAL COMMERCIALIZATION CONFERENCE

Dec. 10Potter Anderson & Corroon LLP

1313 N. Market St., Wilmington, Del.Members $60 Non-Members $120



NJTC PHOTO GALLERYSee what you’ve missed at some exciting recent NJTC events!

What’s Nextin 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.)

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.

Congratulations!



GOVERNMENT AFFAIRS

Will the proposed new revenue recognition (EITF Issue 08-1) rules have a significant impact on tech companies?

Yes: If issued, EITF Issue 08-1, 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. Tech companies’ sales arrangements are often characterized by having multiple deliverables. In order to recognize revenue for delivered items in partially completed sales, companies often opt for economically sub-optimal sales and pricing policies in lieu of the less desirable alternative – deferring all revenue until the last product or service is delivered. If issued, EITF Issue 08-1 would replace and significantly change EITF Issue 00-21. Currently, in order to recognize revenue for delivered products and services, companies are required to obtain sufficient evidence of fair value of the undelivered products and services. This commonly involves establishing vendor specific objective evidence (VSOE) of fair value of the undelivered products or services, a complicated process which can involve establishing economically restrictive pricing policies and deal structures. The EITF has proposed eliminating the requirement to establish fair value of undelivered products or services and instead require separate revenue recognition based on management’s estimated selling prices of the separate deliverables, assuming the other criteria of EITF Issue 08-1 are met. These other criteria are largely carried forward from EITF 00-21 intact, and include establishing stand-alone value of the delivered items among other items. The elimination of the requirement to establish fair value represents a significant change in practice because many companies would no longer be required to establish VSOE in order to recognize revenue. EITF Issue 08-1 would apply to tech companies that are not subject to Statement of Position (SOP) 97-2, Software Revenue Recognition. This includes many hardware companies, as well as software companies that follow a software-as-a-service or SaaS delivery model.

Mark J Giamo, CPA, is an Audit Partner at BDO Seidman, LLP in Woodbridge, NJ www.bdo.com. He can be reached at [email protected] or 732-734-1033.

ACCOUNTING Q&A

MORE

Click for additional information from BDO Seidman, LLP.

AQ

BY ERIC E. MARTINS

Permission has been granted to four companies to start exploring whether it’s practical to harness wind off the coast of New Jersey and Delaware. Last month, U.S. Interior Secretary Ken Salazar awarded five leases to

the four companies who want to develop windmills along the Outer Continental Shelf.

“This is tremendous news for New Jersey and I thank Secretary Salazar and the Obama Administration for issuing these leases which are so critical to getting the development of our offshore wind turbine projects underway,” Governor Jon S. Corzine said. “New Jersey’s Outer Continental Shelf is a resource that holds great promise for our energy independence and should be considered a haven for the clean, renewable and environmentally friendly energy that wind power provides.”

Gov. Corzine’s Energy Master Plan lays out an aggressive strategy to harness offshore energy resources located on the Outer Continental Shelf. In the plan, the governor set a goal for the state to have 3000 MW of offshore wind constructed off the New Jersey coast by 2020, and 1000 MW by the end of 2013. The Board of Public Utilities (BPU) has awarded $12 million in rebates to three offshore wind developers ($4 million to each developer) to meet these goals.

Other recommendations in the governor’s Energy Master Plan include maximizing the state’s energy conservation and energy efficiency to achieve reductions in energy consumption of at least 20 percent by 2020; reducing peak demand for electricity by 5,700 MW by 2020; achieving 30 percent of the state’s electricity needs from renewable sources by 2020 and investing in innovative clean-energy technologies and businesses to stimulate the industry’s growth in New Jersey.

Gov. Corzine recently signed legislation to help achieve those goals. He authorized the BPU to use Retail Margin Fund monies to provide grants for combined heat and power production. He has also required developers to offer solar energy systems in certain new home construction and permitted the location of certain wind and solar facilities in industrial zones. The governor also signed the Energy Savings Improvement Plan into law, making it easier for municipalities, among other entities, to retrofit municipal buildings and schools with energy-saving measures with no up-front costs.

In 2007, Gov. Corzine signed an executive order to mandate a 20-percent reduction in greenhouse gas emissions by 2020, and an 80-percent reduction by 2050. Just over a year ago, he signed a 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. Corzine said. “That means thousands of new, high-tech jobs for New Jersey -- the jobs of the future, where workers will construct and install the energy production capacity for generations to come.

“I look forward to working with Secretary Salazar and the Obama Administration as we move this 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.”

Eric E. Martins is managing director of the Duane Morris Government Affairs New Jersey office. He can be reached at [email protected].

Harnessing wind energy could mean thousands

of new, high-tech jobs for

New Jersey.

N.J.’s Outer Continental Shelf: Great Promise for Energy Independence



NJTC NEW MEMBERS

Joining the NJTCPaul Frank

Ext 222 • [email protected]

Membership AssociateEllen Stein


Membership ServicesJudy Storck


AUDIO

Why join or renew your NJTC membership? Listen to a membership testimonial.

Electronics, Advanced Materials & ManufacturingFolded Structures Company, L.L.C. Ringoeswww.foldedstructures.com Engineering services and software for designing mosaic-like folding architectures, for the packaging, building materials, transportation, aerospace, and other industries, with diverse applications including efficient cores for structural-panels, energy absorbing materials, and deployable structures.

Hycrete Inc.Carlstadt www.hycrete.com Produces an environmentally friendly admixture that integrally waterproofs concrete used in commercial construction.

Enviro/EnergyGreenPrimate, Inc. (dba Timbookz)Bordentownwww.timbookz.net Provides energy management, energy audit and efficiency and climate change consulting services.

Information TechnologiesConversion Technologies International, Inc.Mt. Laurel www.ctiimage.comProvides of imaging, backfile conversion, electronic document, forms processing, bar code reading and color scanning services.

CTS Partners – Lebanonwww.ctspartners.netAn IT consulting firm that focuses on strategic consulting, project management and IT support services, specializing in improving IT service delivery using ITIL, TQM, Six Sigma, and related methodologies.

CyberConsulting, LLC – Metuchenwww.cyberconsulting.us Provides risk management and information security consulting by provisioning the function of chief security officer on a retainer basis to small and mid-sized companies that do not wish to staff this position full time.

Doublebridge TechnologiesPrincetonwww.doublebridge.com Provides integration and consulting services to various sizes of companies in pharmaceutical, healthcare, financial, telecommunication and consumer product industries.

Integrated Technology Strategies, Inc.Voorheeswww.itstrategiesinc.com Provide IT services to corporations,

local municipalities and the federal government.

Interactive Media AssociatesParsippanywww.imediainc.com Web development and marketing company specializing in optimal user experiences with eCommerce and other highly functioning websites.

MaintechCranfordwww.maintech.com An independent service organization delivering single-source vendor neutral IT infrastructure support services to the corporate enterprise marketplace.

Quality Technology ServicesJersey Citywww.qualitytech.com A full-service technology infrastructure company providing managed services, data center services, media services and professional services to businesses.

SpectraMD, Inc.Princetonwww.SpectraMD.com Facilitates the meaningful adoption of electronic health records by hospitals and physician practices.

RevTraxNew Yorkwww.RevTrax.com A technology-empowered marketing company which drives and track online advertising to in-store redemptions.

TechnDyne, LLCWaynewww.technodyne.net An innovative IT consulting, solutions and services firm.

Wideband TechnologiesBrickwww.wb-tech.com A nationwide telecommunications and IT infrastructure consulting firm that specializes in CISCO-based convergence, collaboration, networking and information security integration.

xCypherNewarkwww.xcypher.com A software company developing innovative video encoding solutions for the efficient distribution of content over web and mobile networks.

Life SciencesAton Pharma Inc.Lawrencevillewww.atonrx.com Global specialty pharmaceutical company involved in providing medically essential treatments for serious and potentially life threatening medical conditions.

ChemisolutionsSummitwww.chemisolutions.com Biotechnology company specialized in nano nutrients, nano active ingredients and nano herbal extracts.

ValeritasParsippanywww.valeritas.com A medical technologies company committed to developing and commercializing innovative drug delivery systems and initial focus on the treatment of diabetes.

Service Providers – Business ConsultantsEnter Cap Partners LLCHaddonfieldwww.entercap.netAssists leaders and their teams to clarify and execute business strategies by offering an integrated approach to clarifying strategy, increasing executive teamwork, developing an execution plan and managing the necessary organizational changes.

KNS Development LLCMorris Plainswww.knsdllc.com Provides technical financial services including detailed financial models and market research reports.

Service Providers – HRIntegrated Resources, Inc.Edisonwww.irionline.com Professional staffing firm specializing in contract, consulting and full time positions in the area of clinical, rehab, nursing and IT.

Service Providers – MarketingSSPRPrincetonwww.sspr.com Full service public relations firm with offices in Chicago, Palo Alto, Princeton, and Colorado Springs.

Service Providers – Venture CapitalNational Association of Seed and Venture FundsPhiladelphia, Pa.www.nasvf.orgNASVF promotes investments in seed and early-stage companies by supporting entrepreneurship and job creation through the formation of innovation capital programs.

Telecommunications Opencon Systems, Inc.Piscatawaywww.opencon.com Communications solution provider specializing in the development of data and telecommunications system solutions and applications.

RenewalsACIN - Camden Center www.acincenter.orgAK Systems, Inc. www.aksystems-inc.comAMBLER Growth Strategy Consultants, Inc. • www.thegrowthstrategist.comBDO Seidman, LLP • www.bdo.comBezwada Biomedical, LLC www.bezwadabiomedical.comBrookman, LLC • www.brookman.comCAE Associates Inc. • www.caeai.comCommon Ground Recycling Inc. www.commongroundrecycling.comDatamatics (America) Inc www.datamatics.comEnnova MedChem Group, Inc. www.ennovamedchem.comGCEMarkets, Inc. GeniusDesigns.com www.geniusdesigns.comGreen Gap Solutions (fka Nu Lumen) IntegriChain, Inc. • www.integrichain.comLogistic Solutions Inc. www.logistic-solutions.comMontclair State University www.montclair.eduNeuroTrax Corporation www.neurotrax.comNew Market Translations, LLC www.NMTRANS.comPower Survey Company www.powersurvey.comPR Newswire • www.prnewswire.comProfessional Podcasts LLC www.professionalpodcasts.com/PTC Therapeutics, Inc. www.ptcbio.comQuality Technology Services www.qualitytech.comRedpoint Bio Corporation www.redpointbio.comSequent • www.sequent-tech.comSmarter Agent • www.smarteragent.comTDI Power • www.tdipower.comTekmark Global Solutions LLC www.tekmarkinc.comThe Law Office of Robert M. Mark, LLC www.robmarklaw.comTheAdmins • www.TheAdmins.comTNT Information Systems www.tntinfo.comTriNet HR Corporation • www.trinet.com




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