Right Up Einstein’s Alley ~ October 2018

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Right Up Einstein’s Alley

October 2018

Celebrating over a decade of helping make NJ the place
for high tech business success
BREAKING NEWS

Murphy announces major economic plan for N.J. in attempt to lure venture capital

 
In This Issue
News

Immigrant Entrepreneurs Honored for
Making a Difference in New Jersey
The winners of the Sixth Annual New Jersey Immigrant Entrepreneurs Awards were honored on Wednesday, September 26 at the Asian Indian Chamber of Commerce Multi-Chamber Networking Event in South Brunswick.
The New Jersey Immigrant Entrepreneur Awards honor immigrant business leaders helping New Jersey communities thrive. The awards were created to highlight the social and economic contributions of New Jersey’s immigrants to communities throughout the state and celebrate the important role of immigrants to today’s economy.
The awards are sponsored by a broad-based coalition of New Jersey chambers, associations and organizations including the American Immigration Lawyers Association, Asian Indian Chamber of Commerce, Diversity Dynamics, Einstein’s Alley, Middlesex County Regional Chamber of Commerce, NJBIA, the New Jersey Chinese-American Chamber of Commerce, Princeton Regional Chamber of Commerce, and the Statewide Hispanic Chamber of Commerce of New Jersey.

From left to right:

Pierre Hage Boutros, Pierre’s Restaurant, Caspar Wistar Award for Growth
Suchitra Kamath, Minute Man Press of Edison, Rising Star Award
Kamal Bathla, Maestro Technologies, 2018 Immigrant of the Year
Jack Li, Windsor Athletic Club, Albert Einstein Award for Innovation
Anita Guerrero for her father Jose Guerrero, Spencer Bank, David Sarnoff Award for Advocacy
Manuel Hernandez, Manny’s HVAC, Honorable Mention for Growth
Christina Jeng, enfoTech, Honorable Mention for Innovation was not present
The 2018 winners, their NJ business location and country of origin are:
  • 2018 Immigrant Entrepreneur of the Year – Kamal Bathla, Managing Director, Maestro Technologies, Trenton, NJ (India)
    Kamal Bathla, 2018 Immigrant Entrepreneur of the Year
  • Caspar Wistar Award for Growth – Pierre Hage-Boutros, Founder, Pierre’s of South Brunswick, Monmouth Junction, NJ (Lebanon)
  • David Sarnoff Award for Advocacy and Community Engagement – Jose Guerrero, President, Chairman and CEO, Spencer Savings Bank, Elmwood Park, NJ (Spain)
  • Albert Einstein Award for Innovation – Jack Li, Owner, Windsor Athletic Club, West Windsor, NJ (China)
  • Rising Star – Suchitra Kamath, Owner/President, Minuteman Press Edison, NJ (India)
  • Honorable Mention Growth – Manuel Hernandez, Owner, Manny’s HVAC & Home Improvement, Trenton, NJ (Dominican Republic)
  • Honorable Mention Innovation – Christina Jeng, Founder and President, enfoTech & Consulting, North Brunswick, NJ (Taiwan)
Read more about the winners here

Remarks from the 2018 Immigrant Entrepreneur Awards
President of Diversity Dynamics, LLC
Member, Einstein’s Alley Advisory Council
As a policy wonk in the area of immigration, I get to track some of the latest research on the immigrant contribution to the American economy, which I’d like share with you to set the stage for tonight’s awards ceremony.  
Some people have described immigration as the “secret sauce” of the American economy, probably underrated and not fully appreciated because it is by definition “foreign,” and some native-born Americans probably recoil at the idea that “foreigners” have built the America that we know today
Someone once said that “nothing is more American than non-Americans pursuing the American dream.” I believe that is so true, and the evidence keeps piling up to confirm it.
There are certainly many studies showing how immigrants play an outsized role in many sectors of the economy, both on the upper end and the lower end of the occupational spectrum, including medicine, high tech, agriculture, the hospitality industry construction, you name it.
But it’s not just in the realm of labor that immigrants matter. Let me just give you two lesser-known facts. A recent study by a professor at the Wharton school has shown that the investment and operational decisions of foreign firms often hinge on the presence of immigrants from their home countries in the state or region where they plan to expand operations. Not only does the presence of co-nationals increase the likelihood of such investment, but the larger the local immigrant population, the greater the longevity of the investment.

Read full remarks here

The 21 Best Colleges in New Jersey, According to Money Magazine
From ROI-NJ.Com
By: Emily Bader
August 15, 2018

College cost is the second largest expenditure a family can make, so its not surprising families are looking more toward the bigger picture.
And what’s that you might ask? It’s cost versus payoff. If a college is more expensive it doesn’t specifically mean the return on investment will be better anymore.
When choosing the right school, families need to consider cost, financial aid, student debt and earnings after graduation. Luckily, Money did the hard work for you and compiled the “Best Colleges For Your Money” list, which ranks the top 727 schools across the U.S., including 21 from New Jersey.
Below is how New Jersey’s schools fared in the national rankings, their estimated cost for the upcoming school year, the average student debt a student accumulates and the average early career earnings of graduates.
21. Caldwell University
National rank: 648
Est. price 2018-19: $51,400
Average student debt: $25,800
Early career earnings: $44,300
20. Centenary University
National rank: 581
Est. price 2018-19: $49,500
Average student debt: $25,500
Early career earnings: $42,600

146 N.J. Businesses Make Inc. 5000’s Fastest- Growing Companies List
From ROI-NJ.Com
By: Emily Bader
August 16, 2018

Inc. released its annual Inc. 5000, a ranking of the 5,000 fastest-growing private companies throughout the United States, and 146 from New Jersey made the 2018 list, including four in the Top 100 overall.

The companies were ranked by their percentage growth in revenue over three years.

The four from the Garden State that cracked the Top 100 span all industries, including energy, computer hardware, IT management and advertising and marketing.

The top-ranked company in New Jersey was Metuchen-based Momentum Solar, a provider of solar energy. Momentum came in at No. 58 overall nationally due to its three-year growth rate of 4,617 percent. Its revenue this year topped in at $107.5 million.

Solvix Solutions, based in Mount Laurel, was the second-ranked company in New Jersey. It was ranked No. 62 overall nationally, with a three-year growth rate percent of 4,478 percent and revenue of $14.1 million. It provides technology products to the U.S. government and military.

The third-best-performing Garden State business was Plainsboro-based Core Software Technologies, which provides innovative IoT, AWS and messenger solutions for businesses. Core Software ranked No. 63 overall with a three-year growth rate of 4,475 percent and revenue of $6.7 million.

Read more

According to Anne-Marie Maman, Executive Director, Princeton (University) Entrepreneurship Council, “This is a fantasic resource for NJ’s technology/business community. It lists researchers and projects at all the NJ academic centers that can be sorted by specific sectors of interest.  Collaboration is the name of the game…”

ResearchwithNJ

Welcome to New Jersey’s first research asset database! ResearchwithNJ.com helps businesses and entrepreneurs identify and collaborate with our top universities and experts. This free database will help you discover thousands of experts in science, technology, engineering and mathematics (STEM) as well as their professional backgrounds, publications, and achievements. It will also help you learn about the research departments and specializations of our five participating universities: New Jersey Institute of Technology, Princeton University, Rutgers University, Rowan University, and Stevens Institute of Technology.

ResearchwithNJ.com is sponsored by New Jersey’s Office of the Secretary of Higher Education and Economic Development Authority. We invite you to explore our state’s vast array of intellectual capital and become part of New Jersey’s growing innovation ecosystem.

Access ResearchwithNJ here

Future of Work NJ:
Strategies for Retaining Future Workforce: NJBIA White Paper
From: ROI-NJ.Com
By: Anjalee Khemlani
January 25, 2019
New Jersey is short about 200,000 millennials. And it’s more than a simple math problem.
As the largest living generation, any loss of this age group to outmigration translates to a loss of dollars to the state’s economy, both now and in the future.
So said the New Jersey Business & Industry Association, which has been searching for solutions to this outmigration problem.
On Thursday, the NJBIA released “The Education Equation: Strategies for Retaining and Attracting New Jersey’s Future Workforce,” a white paper prepared by a post-secondary task force created by the association.
Michele Siekerka, the CEO and president of the NJBIA, said the report suggests policy changes to incentivize the younger generation to stay in the state for their college years by making education more affordable.
Siekerka said she is hopeful the ideas will be embraced by new Gov. Phil Murphy, who made a promise to make community college in the state free one of the talking points of his campaign.
“Millennials are the future of New Jersey’s workforce, and they will ultimately be the drivers of the state economy,” the report said. “In order to ensure a successful future for the Garden State, New Jersey must first attract and retain millennials.”
The report highlights a number of issues.
And for more, watch this episode of OneonOne with Steve Adubato on the Impact of NJ’s Millenial Outmigration on Business

Billtrust Unveils New Corporate HQ in Lawrenceville
From: ROI-NJ.Com
By Emily Bader
September 25, 2018
From left are Brian Hughes Mercer County executive; Sen. Shirley Turner; Lawrence Twp. Mayor Christopher Bobbitt; Flint Lane, Billtrust founder and CEO; and Edward Jordan, chief financial officer.
Billtrust, a payments management provider, announced it opened its new corporate headquarters on Monday.
The new, 87,000-square-foot headquarters will provide the company will new technology, more than 50 meeting and collaborative spaces, indoor and outdoor fitness facilities, three coffee bars, ergonomic desks, and white noise cancelling technology.
“We’re excited to have a new home in Lawrenceville for our corporate headquarters and continue our commitment job creation in New Jersey,” Flint Lane, Billtrust founder and CEO, said. “The Billtrust culture is unique and this space reflects that with more collaborative spaces and state of the art technology which will allow our teammates to thrive.”
The company said it decided to say in New Jersey in part due to a Grow NJ grant provided by the New Jersey Economic Development Authority.

Next: Two Book Recommendations
Expecially for those who attended the
Einstein’s Alley Institutes on the 
Future of Work

The Fourth Age
Smart Robots, Conscious Computers, and the Future of Humanity
Byron Reese
Simon & Schuster Atria 2018
Our Towns
A 100,000 Mile Journey into the Heart of America
James Fallows and Deborah Fallows
Pantheon, 2018
Events

Collaborating To Empower
the Innovation Economy
Monday, October 29, 2018
Glassboro, NJ 08028
4-7pm
Maestro Technologies
1 W State Street, Trenton NJ
Technology-based startups are important drivers of economic growth, as they make out-sized contributions to innovation, competitiveness, productivity, and, ultimately, employment growth. Join us as we discuss with tech industry leaders and stakeholders, the necessary ingredients of a strong tech ecosystem and the New Jersey public policies needed to attract and embrace early-stage high-growth tech companies that are creating jobs, taxable revenue, and economic opportunity.  Learn more about the innovative policy solutions and initiatives designed to make NJ more attractive to and rewarding for tech companies, entrepreneurs, and talent, spurring the growth of the innovation economy and tech ecosystem.

Register here

More Upcoming Programs & Events

November 1 – NJ EDA – NJ Founders & Funders Session

Einstein’s Alley Website
www.einsteinsalley.org
 

The Einstein’s Alley website is for you. Check the Directory section and see the companies listed that you need to know.

 

The website is also a great place for visibility for your company.  Contact kkish@einsteinsalley.org for information both on membership and on how to get a highlighted listing in the Directory. Or go directly to the website and download the form.

 

What is Einstein’s Alley?

 

Einstein’s Alley is the destination for technology-based businesses in Central New Jersey. Einstein’s Alley collaborates and coordinates with existing governmental and private sector organizations to grow the region as a magnet for entrepreneurial activity and as a globally recognized economic powerhouse.

Einstein’s Alley Corporation, PO Box 175, Plainsboro, NJ 08536Katherine Kish, Executive Director

www.einsteinsalley.org  kkish@einsteinsalley.org

By |2018-10-03T06:42:20+00:00October 2nd, 2018|Categories: News, Right Up Einstein's Alley Newsletter|Comments Off on Right Up Einstein’s Alley ~ October 2018