Tech company in N.B. earns ‘incubator’ designation

NORTH BRUNSWICK — The National Business Incubation Association (NBIA) has awarded its Soft Landings International Incubator designation to the Commercialization Center for Innovative Technologies (CCIT), which is part of the New Jersey Economic Development Authority’s (EDA’s) Technology Centre of New Jersey in North Brunswick.

The designation recognizes “incubator” companies that are especially capable of helping non-domestic companies enter the domestic market with translation services, cutting through red tape, accessing capital, domestic market research and other programs.

CCIT’s recent designation marks its third consecutive Soft Landings award, following its initial designation in 2007 and subsequent renewal in 2009. The Soft Landings designation is for two years; incubators must reapply for continuing designation.

“This designation makes New Jersey even more attractive to fledgling foreign businesses seeking to establish a United States presence,” said Lt. Gov. Kim Guadagno in a press release. “As these small foreign companies come to New Jersey to mature and grow, they’ll stay in New Jersey, expand their work force by hiring New Jerseyans, and contribute further to our economy.”

New Jersey is now home to two of only 23 small business incubators in the world that have earned the Soft Landings designation. The Enterprise Development Center (EDC), a business incubator operated and sponsored by the New Jersey Institute of Technology (NJIT), was awarded the designation in 2010.

“The Christie Administration has made clear to the nation and the world that New Jersey is a place where businesses can thrive, and this is further proof that New Jersey is increasingly recognized as an ideal place for foreign direct investment,” Guadagno said in the press release. “This honor rightfully acknowledges New Jersey’s success at attracting foreign businesses and creating jobs.”

Tim King, NBIA’s international programs operations manager, said that both New Jersey incubators earned the Soft Landings designation because of their array of business services for non-domestic firms and demonstrated success helping firms enter the U.S. market.

“New Jersey’s business incubation program is a catalyst for the development of young companies by providing entrepreneurs with the expertise, networks, and tools they need to make their ventures a success,” he said.