Listen to this articleThe basics:
- NJEDA approved $12.55M to fund two Strategic Innovation Centers focused on medtech and maternal health
- Funding backs NJ AIM sites in Camden and Mullica Hill; New Baby New Jersey SIC in Trenton
- Plug and Play will run programs, with two startup cohorts per year at each site
- Investment includes startup capital, accelerator operations, venture studio & maternal health initiatives
The New Jersey Economic Development Authority board approved a $12.55 million investment to support two new Strategic Innovation Centers focused on medical technology and maternal and infant health.
The funding supports the New Jersey Accelerator for Innovation in Medtech (NJ AIM), a multi-site SIC in Camden and Mullica Hill, as well as the New Baby New Jersey SIC, which will operate from Trenton’s Maternal and Infant Health Innovation Center (MIHIC).
Together, the centers will help entrepreneurs research, develop, and commercialize new medical devices and maternal health solutions.
NJBIZ has previously reported on these SICs and the broader initiative. SICs are physical hubs – such as accelerators, incubators and research centers – that support innovation through mentorship, networking, training, business services and access to capital. NJEDA has now invested in 12 SICs statewide, spanning industries including artificial intelligence, fintech, aerospace, life sciences, and biotechnology.
Acting NJEDA Chief Executive Officer Mary Maples said the investment builds on the Murphy administration’s broader strategy to create environments where entrepreneurs can thrive, which opens pathways to capital, encourages collaboration, and leverages the strength of the state’s academic institutions and private sector partners.
Start me up
“The NJEDA’s latest investments into NJ AIM and the New Baby New Jersey SIC further establish the state’s leadership in the medtech and maternal health sectors, advancing scientific breakthroughs, creating jobs, and bolstering the regional economy,” said Maples.
Plug and Play will manage the NJ AIM and New Baby New Jersey programs. It will run two startup cohorts per year, with at least 20 companies per cohort at each site. At least 20% of participating companies must be based in New Jersey — with out-of-state startups encouraged to relocate.
NJEDA will commit:
- Up to $5.5 million for investments in participating companies;
- $2.25 million – matched by Rowan University – for accelerator operations;
- $1.5 million for a new health-focused venture studio run by NLC Ventures;
- $3 million for an early-stage maternal and infant health initiative in Trenton.
NLC Ventures USA Director Jaap Haemers said the venture studio will work hands-on with founders to turn breakthrough science into scalable companies. He highlighted a strong ecosystem of clinical, academic and investment partners.
“New Jersey is making a clear statement about its commitment to building the next generation of medical technology companies,” said Haemers.
New Jersey is making a clear statement about its commitment to building the next generation of medical technology companies.
– Jaap Haemers, director, NLC Ventures USA
Working together
NJ AIM will include 8,500 square feet of lab and R&D space across Rowan University and Cooper Medical School facilities, as well as space on Rowan University’s West Campus in Mullica Hill, alongside the Shreiber School of Veterinary Medicine, when open. Cooper University Health Care serves as the anchor commercial affiliate. Meanwhile, the Rowan Foundation will invest in select participating accelerator companies.
Rowan University President Ali Houshmand called the investment a bold example of collaboration shaping a stronger New Jersey.
“Innovation begins with bold investment,” said Houshmand. “The future of New Jersey is built on collaboration and partnerships that make a difference.”
The New Baby New Jersey SIC will occupy 5,000 square feet at MIHIC. It will focus on maternal health equity, digital health, perinatal mental health and related innovations. NJMIHIA Chief Executive Officer Lisa Asare said the accelerator will offer a launchpad for bold ideas.
“We’re incredibly proud to be part of this pivotal moment in New Jersey’s innovation journey,” said Asare.
Plug and Play partner and Chief Revenue Officer Michael Olmstead said the initiative reflects New Jersey doubling down on startup innovation where it matters most: helping medical innovations reach patients and improving health outcomes. The organization previously partnered with NJEDA on NJ FAST. Stevens Institute of Technology in Hoboken hosts that fintech and insurance technology SIC. Additionally, Plug and Play will power an AI Accelerator at the NJ AI Hub, a SIC in West Windsor.
“Plug and Play is proud to partner with NJEDA, Rowan University, and Cooper University Health Care to give founders what they need to scale: deep clinical and academic collaboration, hands-on commercialization support, and direct pathways to customers and capital,” said Olmstead.
