The New Jersey Health Foundation, a New Brunswick-based nonprofit that funds health research and innovation, on Monday announced a new $1 million funding round, $500,000 of which will fund a new collaboration with Newark-based Nicholson Foundation to help researchers commercialize their ideas.
He said the Nicholson Foundation and the New Jersey Health Foundation will jointly fund the Innovation Grants program.
The other $500,000 will fund the existing New Jersey Health Foundation Research Grants program, which awards grants of up to $35,000 to fund early stage research projects that demonstrate potential and may lead to larger future grants from other organizations to further advance the research.
The New Jersey Health Foundation also has a venture capital arm, Foundation Venture Capital Group, and the goal is that Innovation Fund grants will help seed new ventures that could be funded by the venture fund, which makes investments of up to $500,000, Golubieski said.
The New Jersey Health Foundation funds a wide range of health-related research, Golubieski said, “It is really wide open,” and includes new disease therapies, medical devices and the emerging field of health-related computer and mobile phone applications
Through its Grants Program, New Jersey Health Foundation has historically awarded more than $54 million to support early stage research in New Jersey.
