New Apps Challenge, Apps Economy Legislation And A New Jersey Startup Incubator

In partnership with Stevens Institute of Technology, Rutgers University, and the New Jersey Institute of Technology (NJIT), FCC Chairman Julius Genachowski and Senator Frank Lautenberg announced the “New Jersey Apps Challenge” for students and entrepreneurs to showcase how the booming apps economy can help New Jersey. Sen. Lautenberg also announced new legislation to help researchers attract investment and President Nariman Farvardin of Stevens Institute of Technology announced plans for a technology incubator hub.

Following the announcement, Lautenberg and Genachowski led a discussion on how the public and private sectors can work together to create jobs and catalyze growth in New Jersey’s mobile apps economy.

New Jersey Apps Challenge: Leading New Jersey academic institutions unveiled a competition to showcase the booming mobile apps marketplace; winner meets Co-Founder and CEO of FourSquare.

The America Innovates Act: Senator Lautenberg announced that he will introduce new legislation that will spur the growth of high tech jobs and train scientists to turn their discoveries into new products. This bill:

• Establishes an “American Innovation Bank” to provide universities, researchers, and private companies with the resources necessary to turn discoveries into products that will attract private investment and create jobs. The American Innovation Bank will leverage federal investments in science into new products, companies, and jobs.
• Provides industry training for graduate students in science. The bill expands existing fellowship programs so that students can perform research in local companies and provides federally-supported graduate students with industry-related training, including the importance of patenting and commercializing discoveries. The bill supports the development of new curricula that train science graduate students for careers in industry.