NJTC Venture Fund

	New Jersey Network

	The Innovation Garden State
	New Jersey has a tradition of invention, distinguished academic and corporate research facilities, a diversified technology base, engineering talent pools, nearby markets, and active entrepreneurial networks. New Jersey alone accounts for 10-15% of all R&D dollars spent annually in the United States. New Jersey is a global leader in the drug and biotech industry with 21 of the world's largest pharmaceutical and medical technology companies based in the state including Merck, Johnson & Johnson, Wyeth, BD, and Schering-Plough. New Jersey is also a communications leader with Verizon, Telcordia, SBC/AT&T, and Lucent locally domiciled.
	Consider these additional statistics which highlight New Jersey innovation:
	New Jersey has more scientists, engineers, and technicians per capita than any other state
	40% of all new drugs approved by the US FDA originate in New Jersey
	Approximately $600 million of Federal R&D expenditures are granted annually to New Jersey universities and colleges
	New Jersey has an extremely well-educated work force, with the second-highest per capita income in the country
	New Jersey represented $49.6 billion of national revenues at venture-backed companies in 2003
	Cumulative venture capital investment in New Jersey totals $11 billion
	The New Jersey Technology Council is the tri-state's largest organization supporting technology firms and has grown at a 60% annual rate. NJTC Venture Fund consequently has the region's most extensive network. The Fund's motto is "Networked Capital" for good reason.