Anthony Lowman, who followed Blank to Rowan to become the dean of the College of Engineering, said Rowan’s late start actually gives it an advantage over other schools trying to adapt outdated partnership models to the new economy.

Lowman told NJBIZ, “They’re all talking about it, but they all have big infrastructures.  They all have the old ways of doing things, and layers and layers and layers that can prevent it from happening.  We get to build from scratch.”

It’s a good time to do just that, according to Kaltwasser’s.  

In 2012, Rowan opened Cooper Medical School, in Camden, and as of July 1, 2013, the school will absorb the School of Osteopathic Medicine, in Stratford, as part of the state’s higher education restructuring; it also gets its designation as a research institution on that date.

Once the merger is complete, the school will be at about $24 million of sponsored research at Rowan’s four campuses, said Shreekanth Mandayam, associate provost for research, and executive director of the school’s South Jersey Technology Park, in the Mullica Hill section of Harrison.

The goal is to get that number up to $100 million within a decade.  “We’ll do it faster than that,” Blank told NJBIZ’s Kaltwasser.

Blank’s confidence comes from experience.  He helped Drexel University, in Philadelphia, to jump from $15 million in sponsored research to $100 million in seven years.  There, he worked alongside Ali Houshmand, now president of Rowan; Houshmand recruited Blank and Lowman.

Traditionally, Blank said, researchers decide what they want to research, apply for grants and, if they get funding, move forward.  Blank wants to redirect some of that scientific energy away from open-ended study and toward solving specific problems.

“We’re going to be focusing on our innovations on things that are actually needed,” he said.

That means, Blank told Kaltwasser, meeting with businesses and government agencies to determine their needs, and in Rowan’s case, hiring a pair of business development firms to drum up potential partnership leads.

Blank said the school also is training its existing faculty to understand how to get their innovations out of the lab and into real-world applications.

The engineering school already holds regular clinics, in which 80 to 90 percent of the projects are funded by industry, Mandayam said.  The 16 research labs at the tech park generate $3.5 million to $4 million each year.

According to Kaltwasser’s report, Rowan’s new approach could bring multiple benefits.  Besides research dollars and licensing revenue, the school and its tech park are also helping faculty spin out companies, and also are housing “spin-ins” — companies that started outside the university, but which choose to locate at the tech park to take advantage of the mentorship and research assistance opportunities.

The tech park is filled to capacity with seven resident businesses and eight “virtual tenants” that pay a monthly fee to take advantage of the business assistance offerings.

There’s plenty of room for growth.  The tech park sits on 700 acres of university land, which the school hopes someday becomes a tech-centered “west campus.”

For Jared Kaltwasser’s complete NJBIZ story, click here.

The program is a result of the Angel Investor Tax Credit Act, which Governor Christie signed into law in January to spur job creation and growth in New Jersey’s current and next generation of high-skill, high-wage emerging technology industries.

The Angel Investor Tax Credit Program will provide credits against New Jersey corporation business or gross income tax for 10 percent of a qualified investment in an emerging technology business with a physical presence in New Jersey and that conducts research, manufacturing, or technology commercialization in the state. 

The program, which will be administered by the New Jersey Economic Development Authority (EDA) in consultation with the New Jersey Department of the Treasury, will be available to taxpayers who invested in an emerging technology business in calendar year 2012 or after. 

“The Angel Investor Tax Credit demonstrates the Christie Administration’s continuing focus on nurturing New Jersey’s early-stage technology businesses,” EDA Chief Executive Officer Michele Brown said.  “This program will serve to strengthen New Jersey’s competitive edge, incentivize significant private investment in our most promising companies and create jobs of the 21st century.”

To qualify, technology businesses must employ fewer than 225 employees, 75 percent of whom must work in New Jersey.  Businesses must also conduct at least one of the following in New Jersey: incur qualified research expenses; conduct pilot scale manufacturing; or commercialize an eligible technology.

Eligible technologies include advanced computing, advanced materials, biotechnology, electronic devices, information technology, life sciences, medical devices, mobile communications, and renewable energy technology.

Credits will be capped at $500,000 per tax year for each qualified investment, and the total program is subject to an annual cap of $25 million.

The implementation of the program was approved at today’s EDA Board meeting. The Board meeting schedule, as well as Board agendas and minutes, are available at www.njeda.com.

All Board actions will take effect at the expiration of the statutory period for the Governor’s review and consideration of the meeting minutes.

Beginning July 1, 2013, applications will be available.

For more information on the Angel Investor Tax Credit Program, click here.

Kathryn Uhrich is awaiting a patent on PolyMorphine, which, she believes, could be applied inside a patient’s body before a surgeon closes the wound. It would be targeted and slowly release the morphine over several days.

“Our research has shown that PolyMorphine extends … the effect of morphine from less than four hours to three days, almost ten times longer the pain-relieving effect,” said Uhrich, who is also Rutgers Dean of Mathematical & Physical Sciences.  “The use of PM has the potential to improve patient comfort and quality of life by decreasing dosing frequency and controlling treatment compliance.”

Though the chemistry is complex, the concept is relatively simple:  instead of ingesting a pill or taking morphine intravenously, a surgeon would take a polymer strip (like the kind used to whiten teeth) or a powder and apply it directly to the wound.

Polymers degrade slowly inside the body.

“So that gives you the slow release,” Uhrich said.”  The dose would be delivered by the surgeon.”

For the complete Star-Ledger story, click here.

This year’s Conference will feature a keynote address by Governor Chris Christie.  You will also hear from thought-provoking state leaders who will provide you with insight and information you won’t want to miss! 

Workshops are now available.  Please be sure to make your selection with your online registration.

• Branding Your Best – Let Them See You Coming! (aka Life is a Piano … Play it Well)
• Empowering and Inspiring a Business of Her Own
• The Positive Power of Humor – Stress Management with a Smile
• Success is a Journey… Not a Destination – Being Fearless in Your Career and Life
• Transforming Adversity into Opportunity

For complete workshop descriptions, download the conference agenda here! 

For updates and to register, please visit: http://www.njwomensconference.com

If you have already registered for this event but have not yet chosen a workshop, please call 732-932-9271 x.630 with your selection.  Space will be available on a first-come, first-served basis.