And it's no wonder, with the steady stream of high-tech innovations coming out of our research universities. If these companies achieve commercial success in the marketplace, everybody wins.
New Jersey gains additional jobs, the economy expands, and the state remains a leader in high-tech.
With the Technology Transfer and Commercialization Program, we are able to address this need and foster economic development through the growth of high-technology companies throughout the state. I believe this to be a wise investment in our future. Twenty-three firms were awarded matching loans. Our unique capital needs made it difficult for us to tap into conventional lending sources. The Technology Transfer and Commercialization Program enabled us to focus our attention on the product development process.