• E-mail
• Print
• Comment
• Font Size
• Digg
• del.icio.us
• Discuss article

State Panel Plans More Targeted Aid for Science and Technology Programs

Posted on: Friday, 19 August 2005, 15:00 CDT

The New Jersey Commission on Science & Technology has undergone some changes in recent years, notably budget cuts.

But the commission, which doles out about $8 million a year, still plays an important role overseeing grants that help high-tech start-up companies get off the ground.

Sherrie Preische, who was appointed as the commission's executive director by former Gov. James E. McGreevey, would like to see the state adopt better policies to retain New Jersey's research and technology companies. Preische spoke to The Record this week about the changes at the commission and her hopes for the state's technology sector.

*

Q. Why is it important to have the state involved in overseeing the growth of new technology companies?

New Jersey has not really had to worry about this too much in the past because of our location. The pharmaceutical industry, for example, grew up here after moving across the river from Manhattan. We have all these industries here simply because of our location. But over the last 10 years or so, many other states have created technology policies - the rest of the country is competing for our companies.

Q. The Commission on Science & Technology has gone through some changes, and you've refocused the way money is handed out. How will this help tech companies grow in New Jersey?

We're trying to be more targeted in our investments and make sure they are leading to business creation. We've stopped funding most basic research projects [at universities] because the federal government funds basic research, and our universities do a very good job. The state's role should be how can we use what's going on in our universities to create new business in New Jersey.

We've also increased our focus on direct business assistance via incubators we run, and some direct grants to companies. And the governor has given the commission $5 million to start a stem cell research grant program. This is a case where we are involved in basic research simply because the federal government is not. And we're looking at it from the point of view of patients and families in New Jersey - they want the top-of-the-line medical research going on here in New Jersey. And the way patients get treated is really through developing these companies.

Q. You studied astrophysics at Princeton. Did you learn anything in the course of your studies that helps you in your present job?

[Laughs] All kinds of things ... certainly a science training really teaches you how to ask questions and try to develop answers to those questions.

Q. Giving seed money to technology start-ups can mean the difference between success and failure; is there anything else the state can do to help foster growth?

In general, the state should develop a science and technology strategy and one that involves more substantial investment and focused investment than we currently do. Other states are very focused on this and have much larger budgets for it. It's not just the money; it's the realization about what is happening to our economy.

Q. Are there any trends you see in terms of the types of technology companies that come to you for assistance?

That's hard to answer. There's really activity across the board from small telecoms, biotech, alternative energy, nanotech.

*

E-mail: mckay@northjersey.com

Source: Record, The; Bergen County, N.J.

More News in this Category