Priority 3: Research, Innovation And Entrepreneurship
NJIT Makes Innovators And Entrepreneurs.
Generative AI is creating new opportunities for innovation and knowledge creation while also challenging the traditional model of a research enterprise. At the same time, the development of intellectual property and the translation and commercialization of research requires dedicated investment and space, both of which have been constrained as the university has grown. NJIT’s status as a Carnegie R1 (Very High Research Activity) university and New Jersey’s only public polytechnic university make it uniquely positioned to serve as an Innovation Nexus, bringing together highly productive researchers, government organizations, industries, local entrepreneurs, angel investors, and mentors dedicated to facilitating new business ventures built on the ideas and IP of faculty, staff, and students.
NJIT will focus its research enterprise on collaborative, large-scale, applied projects in areas such as healthcare, sustainability, and data sciences while not precluding individual achievements. We will provide robust support for single principal investigator (PI) initiatives, including those targeting young investigator awards which are the seedbeds for innovation. The emphasis on large-scale collaborative research will harness the synergy that comes from multidisciplinary teams working together towards common goals, while strategic corporate engagement will ensure that our endeavors align with industry needs and benefit from corporate expertise and resources. A focused research portfolio will be balanced by partnerships beyond the corporate realm to include non-profits and government agencies.
KEY METRICS
- Total research & development expenditures
- Number and funding level of collaborative research grants
- Doctoral student enrollment and graduation rates
- Retention of Carnegie R1 status
- NJII total revenue
- Professional and corporate education revenue
NJIT and NJII will work together to expand opportunities for research translation and commercialization including creation of a new venture studio enterprise. Strategic efforts will enhance efficiencies in research administration and support and expand opportunities for research collaborations and the translation of research and intellectual property. New investments will provide support for students, faculty, staff and alumni to launch new business ventures or commercialize innovations.
With a focus on strengthening our R1 status, NJIT, in part led by NJII, is poised to have a sustained and important societal and commercial impact through research and innovation of the highest caliber. NJIT discoveries enhance the reputation of the university and New Jersey while reinforcing our position as a valued innovator in the national and international research agendas and as a catalyst for cutting-edge, critical research.
ACTIONS:
Develop a targeted plan in collaboration with NJII to identify and pursue diverse funding opportunities to increase overall funding success rates.
Develop, support, and promote a range of engagement activities including networking events with industry, academia, and government through colloquia and guest lectures.
Large scale projects requiring collaboration both internally, across the colleges within NJIT, and externally with universities around the globe and various industrial partners, will become paramount in the near future for continued and expanded research success.
These collaborations not only aid in securing larger external funding, but also secure NJIT’s position as a leader in technological innovation and research.
ACTIONS:
Harness the asset and industry connections of NJII to connect faculty with research needs of industry and government agencies.
Enhance the NJIT Research, Innovation, Translation and Entrepreneurship (RITE) ecosystem to expand collaboration with industry and external partners and increase external funding for research initiatives.
Develop collaborative research agreements and facilitate international research collaborations to expand the university’s research network and increase visibility and participation in global research activities.
Standardize processes for communication and security to ensure compliance with international research collaboration requirements.
It is widely recognized that there is a significant challenge in translating academic breakthroughs into products and services that can solve unmet societal needs. We provide pathways for faculty, students, and the community seeking to turn concepts or research into marketable products that positively impact economic development.
Strengthening the bridge between academia and industry via commercialization, and specifically, leveraging NJII, delivers measurable benefits to our region. In addition to being an alternative source of revenue, this commercialization ecosystem will serve to retain talent in New Jersey, further driving workforce growth and the economic impact to the region.
ACTIONS:
Create a commercialization ecosystem that leverages NJIT students as Commercialization Fellows, facilitates commercialization processes, and improves and scales commercialization pathways.
Develop a supportive and inclusive entrepreneurship environment through co-curricular workshops to enhance entrepreneurship skills and increase opportunities for commercialization through relationships with mentors and funders.
Create a venture studio enterprise within NJII that focuses on launching companies based on intellectual assets of faculty, researchers, alumni, and students.
Enhanced grant management and support staff allows faculty to concentrate more on the scholarly aspects of their sponsored research projects. With increasing competition, improving the professional quality of grant applications can lead to a higher success rate across a broader range of opportunities. Establishing greater support allows faculty to focus on recruitment, retention and training of graduate students and junior faculty fellows, thus further enhancing the level of research productivity. Attracting more doctoral students is a critical part of the research infrastructure resource pool.
ACTIONS:
Strengthen the university’s research infrastructure through strategic investments in staffing, core facilities, shared equipment, and support for patent acquisition and technology transfer.
Develop a multi-year funding model for doctoral students to increase the university’s competitiveness in attracting and retaining top-tier doctoral candidates.
Leverage NJII’s growing infrastructure to enhance the capabilities and capacities of our applied research, especially to support the practical needs of industry.