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Contact Information: Tanya Klein Public Relations 973-596-3433

Financial Training, Planning Programs at NJIT for Cash-Strapped Entrepreneurs

The New Jersey Center for Innovation Acceleration, a joint initiative of the NJIT School of Management and the NJIT Enterprise Development Center (EDC), will offer a series of business planning and financial modeling courses for entrepreneurs funded by North Jersey Partners. 

The first course, Advanced Invention to Venture (AI2V), will be held June 8-11, 2009, at EDC, 211 Warren Street, Newark.  It will be an intensive four-day workshop designed for technology-based businesses and focus on licensing or commercializing technology-based products or services. The program will enable participants to develop a licensing plan or launch a new company by providing instruction, exercises, pitching opportunities and coaching, complete with real-time feedback.

By completing the course, participants should be able to develop a complete commercialization plan and be able to deliver a pitch-ready PowerPoint presentation to investors and/or strategic partners.  Aron Spencer, who teaches at NJIT’s School of Management, will be the facilitator.  The registration fee for the course is $250.

"Financial Modeling Essentials for Raising Capital," a two-day financial modeling workshop, offered later in the summer and fall, will cover all aspects of developing a financial model including profit and loss, balance sheets, cash flow statements, and applying valuation techniques for your business. “Refining Your Financial Model for Venture Capital,” a one-day workshop, strengthens the key elements of your business's financial model and enhances the focal points that venture capitalist evaluate for funding.

The Globecon Group, a leading provider of professional development for corporate and investment banking institutions will present these courses.  The registration fee is $50 for each of these workshops.  For additional details on the business planning or financial modeling courses, please click here.

“These two training programs are a wonderful opportunity for North Jersey-based entrepreneurs," said Judith Sheft, associate vice president technology development at NJIT and North Jersey Partners entrepreneurial strategy lead.  "Access to capital is critical in these very difficult economic times, and it's not as easy as it used to be to get venture/angel backed or traditional bank funding.  By participating in the financial modeling program, entrepreneurs will have a more robust financial model that will enable them to more rapidly move through the funding process.  Participants will also receive valuable and objective feedback on their business ideas from a team of very experienced professionals."

North Jersey Partners is an innovative regional partnership of public, private, and government organizations collaborating to deliver programs, training and support to ensure the continuity of a skilled workforce to drive economic growth in North Jersey.   Funders include the U.S. Department of Labor Employment & Training Administration's Workforce Innovation in Regional Economic Development (WIRED) grant and supported by the New Jersey Department of Labor and Workforce Development.

One of the nation's leading public technological universities, New Jersey Institute of Technology (NJIT) is a top-tier research university that prepares students to become leaders in the technology-dependent economy of the 21st century. NJIT's multidisciplinary curriculum and computing-intensive approach to education provide technological proficiency, business acumen and leadership skills. With an enrollment of more than 10,000 graduate and undergraduate students, NJIT offers small-campus intimacy with the resources of a major public research university. NJIT is a global leader in such fields as solar research, nanotechnology, resilient design, tissue engineering, and cyber-security, in addition to others. NJIT ranks 5th among U.S. polytechnic universities in research expenditures, topping $110 million, and is among the top 1 percent of public colleges and universities in return on educational investment, according to PayScale.com.