Corrections or additions?
These articles by Kathleen McGinn Spring and others were prepared
for the January 24, 2001 edition of U.S. 1 Newspaper. All rights
reserved.
Sarnoff For-Profit Gets State Funds
nVention, Sarnoff Corporation’s new incubator, is the
first for-profit to receive funding from the New Jersey Commission
on Science and Technology.
The NJCST has announced $3.75 million in construction awards to five
incubators that will nurture high technology startups. Sarnoff’s
nVention
received $500,000 to create, incubate, and launch startup companies.
nVention will focus on companies developing digital convergence
technology
to capitalize on the next phase of the Internet. The incubator is
targeting venture opportunities that have a $1 billion market
potential.
John V. Tesoriero, executive director of NJCST, says nVention received
the award because the state wants to have a close relationship with
the companies the incubator will spawn.
“It’s real high end,” Tesoriero says of the caliber of company
nVention intends to develop. “They will spin out companies with
a high return on investment. They have already spun out a lot of
companies,”
he observes, “and we want to keep them in New Jersey.”
From the beginning, the NJCST intended to include all forms of
incubators
in its awards, according to Tesoriero, although up until now most
of the funding went to academic centers.
The Sarnoff award sends NJCST in a new direction, Tesoriero says,
adding that another award recipient also falls into a new category:
Community Options, with headquarters on Farber Road, is focusing on
the disability market. It is building its incubator in Morristown.
The incubator, which received a $250,000 award from NJCST, will
nurture
entrepreneurs with and without disabilities who are developing new
technologies for the disability market.
Other recipients of the incubator awards are Burlington
College/Burlington
High Technology Incubator II in Mt. Laurel, which received $1 million
to build a new life sciences incubator, and Fairleigh Dickinson
University
in Madison, which was awarded $500,000 for a new Internet-related
incubator for student and non-student entrepreneurs.
NJIT, recipient of NJCST’s first incubator award, was given $1.5
million
to begin construction of a new incubator to house up to 50 technology
startup companies.
— Kathleen McGinn Spring
Creative Computing, 60 Mount Lucas Road, Princeton08540. Jeffrey Gorman, CEO. 609-683-3622; fax, 609-683-3612.www.creativecomputing.com.Jeff Gorman has a five-year-old computer firm that has opened a repaircenter at 221 Witherspoon Street for the general public. Until now,Creative Computing provided technical support for school districtsfor Apple and Macintosh computers. The firm has a resellers licenseand repair authorization; it also does staff training, supports aprogram that produces IEPs (student progress reports), and repairsand administers networks.Gorman grew up as a Navy junior, spending many of his early yearsin Norfolk, and graduated from the University of Buffalo in 1989.He worked as a programmer for CEO Software, now in Red Bank, beforestarting his own firm in 1996.In the course of fixing and programming school computers, Gorman says,he and his staff people have gained an intimate knowledge of the innerworkings of Macintoshes. “We know more about the Mac thananybody.”Mitchell’s Woodworking, 25-B Princess Diana Lane,Trenton 08638. Gordon and Geoffrey Mitchell, owners. 609-737-7279;fax, 609-737-0414. Www.mitchellswoodworking.com.The 11-year-old custom cabinet manufacturing firm expanded from itsReed Road headquarters to a 4,500-foot space leased from BoehmPorcelain.The Mitchell brothers trained with their late father, WilliamMitchell,who was a self-employed carpenter and cabinet-maker in Titusville.They make entertainment centers, kitchen cabinets, mantels, andvanities,and they also do kitchen design.Top Of PageNew in TownRegal Computer Systems Inc., 947 State Road, Suite204, Princeton 08540. Ashwin Reddy, business manager. 609-921-7676;fax, 609-921-8166. Home page: www.regalsys.com.This computer consulting company moved from Edison two weeks ago to450 square feet on State Road. Ashwin Reddy, the business manager,says the three person firm moved because he lives on River Road andwanted to improve his commute.The firm recruits software consultants worldwide and places them incontract assignments at major corporations and organizations,includingAT&T, Chase Manhattan, and the U.S. Department of State. Many of the70 consultants now working for Regal come from India, London, andSingapore.Top Of PageCrosstown MovesGlobal Marketing and Information Technology Company(Mega Group), 4 Crossroads Drive, Suite 108, Robbinsville 08691.Mark A. Iorio, CEO. 609-584-7400; fax, 609-584-1977.WWw.themegagroup.com.After one year at Thomas Rhodes Drive in the same quarters with hisfather’s fulfillment firm, M&B Associates, Mark Iorio moved his firmback to its former home, Crossroads Drive in Robbinsville. “Notall company mergers work out the way it was expected, and that wasthe case with the proposed merger of our two firms,” says Iorio.Founded as the Mega Group, GMITC does marketing communications,printing,advertising, website development, database management and fulfillment.M&B Associates offers marketing support services.Top Of PageLeaving TownSBX, 500 Executive Drive, Suite 306, Ossining,NY, 10562. Jason Shore 914-923-3383. Www.nanocaps.com.Larry Shiller has relinquished administrative control of SBX and thefirm has moved from 194 Tamarack Circle to Ossining, New York, whereJason Shore is now in charge. SBX is an online Nanocap Community anddoes order matching for SEC reporting companies not listed on NASDAQ.Shiller retains an investment.Top Of PageDeathsManfred Halpern 76, on January 14. He was emeritusprofessorof politics at Princeton University.John L. Simone, 49, on January 16. He was a custodianwith Princeton Regional Schools.James A. Roberts, 50, on January 16. He was a fleetmanagerwith Princeton Armored Services on Whitehead Road.Yvette Weiss, 60, on January 19. She had a law practiceon North Harrison Street.Corrections or additions?This page is published by PrincetonInfo.com— the web site for U.S. 1 Newspaper in Princeton, New Jersey.
