NEWARK, March 26, 2015 – The New Jersey Innovation Institute (NJII), an NJIT corporation that applies the intellectual and technological resources of the state’s science and technology university to challenges identified by industry partners, has formed a collaboration agreement with TechX Foundry.
TechX Foundry™ is a membership-based, technology innovation center focused on accelerating ideas/concepts towards commercialization in a risk-mitigated, cost reduction environment, while developing, promoting and supporting new ideas that generate sustainable value in new and existing markets.
Together, NJII and TechX Foundry as a public-private partnership will explore a broad range of collaborative endeavors including model making, prototyping, manufacturing and scalable production technologies. The combined resources will be made available to incubator companies, inventors, hobbyists and students. The TechX Foundry relationship will support NJII iLab critical industry clusters in Healthcare (e.g. medical device modeling), Defense and Homeland Security (unmanned aircraft and sensor-based device prototyping) and Civil Infrastructure (smart city and utility support) among others.
In commenting on the agreement, Dr. Donald Sebastian, NJII president, stated, “Without an ability to make the things we imagine, innovation cannot progress beyond imagination. Manufacturing is a high technology world and it takes a partner like Tech-X to make such assets available to everyone from garage inventor to corporate researcher.” David Rosen, TechX’ chief executive officer, added, “Model making, prototyping and scale-up are critical processes in the early stages of commercial development and our ability to draw upon the research and technology resources of NJIT will add significantly to the depth of these services we offer to industry.”
The New Jersey Innovation Institute (NJII) is an NJIT corporation that applies the intellectual and technological resources of the state’s science and technology university to challenges identified by industry partners. Through its Innovation Labs (iLabs), NJII brings NJIT expertise to key economic sectors, including healthcare delivery systems, bio-pharmaceutical production, civil infrastructure, defense and homeland security, and financial services.
TechX Foundry™ is a unique technology innovation center where design, prototyping, and manufacturing accelerate ideas/concepts towards commercialization while nearly eliminating capital costs by using the shared economy model. Its members include corporations, startups, and inventor/enthusiasts from the New York and New Jersey communities who will nearly eliminate, or greatly reduce costs, while lowering risks, and dramatically accelerating time to market. TechX Foundry’s ecosystem of research, creativity, and expansive resources, provides its members with access to state-of-the-art equipment, tools and software, consultation from experts from industry, academia, and related fields, innovative education and training programs, and flexible WorkSpaces for Office and Industrial needs.
Contact: Paul W. Richartz
Contact: William Ready