Legislation Assemblyman Gordon Johnson sponsored to establish a New Jersey Innovation and Research Fellowship Program to support technological research and innovation in the state has been signed into law.
The new law (S-2442/A-3891) dedicates a portion of the Workforce Development Partnership Fund to the establishment of technological seed growth in New Jersey.
“With this bill, the state will assist in the growth of the type of innovation ecosystem that has created groundbreaking technology in the past,” said Johnson (D-Bergen). “It’s essential that New Jersey acts to fertilize, maintain and grow an innovation ecosystem that allows technological ideas to flourish and expand upon the already rich environment for information technology in the state.”
An innovation ecosystem is an environment in which the persons who have the knowledge, ideas and actions are connected by the institutional entities, such as universities, business firms, research institutes, state and local governments, and policy makers to the materials needed to spur development, inventions and economic growth.
“New Jersey is the headquarters of leaders in the field of research and development and has a long, successful history of innovation in the technology field,” added Johnson. “Many of these technological advances and inventive successes are due to the unique intersection of knowledge, education and business that exists in our state.”