Impact of Higher Education Research and Technology on NJ

Steve Aduabto brings together four leading New Jersey research institutions to discuss the impact of research and technology on quality of life issues; bringing jobs to their neighborhoods; the merits of technology and the societal impact of these changes; the importance of incubator businesses; and bringing pharma back to NJ.

Guests Include:
Ali A. Houshmand, Ph.D, President, Rowan University
Joel Bloom, Ed.D., President, New Jersey Institute of Technology
Christopher J. Molloy, Ph.D., Sr. V.P., Office of Research & Economic Development Rutgers University
Nariman Farvardin, Ph.D., President, Stevens Institute of Technology

4/22/17 #3003

Excerpt:

"Welcome to Caucus New Jersey, our brand new set here. I'm Steve Adubato. Higher education institutions are not only educating students but have a major impact on the New Jersey economy. Here in the studio to discuss the role that colleges and universities play outside the classroom, we have Doctor Joel Bloom, who has been with us before. He is the President of the New Jersey Institute of Technology. Doctor Ali Houshmand, back again, President of Rowan University. Doctor Christopher Molloy, Senior Vice President of the office of research and economic development at Rutgers University, and Doctor Nariman Farvardon, President, Stevens Institute of Technology. Gentlemen, I want to thank you for joining us to talk about research, innovation, higher education and its connection to business development. Joel, let me ask you, we have talked about this issue before on your campus. Yes. The question really is, you've said right before we got on the air, that this is changing. The relationship between higher ed and is it the business community? The business community in general. Business and industry. The early relationship was about the workforce. You know, we all helped to create the workforce. In the state of New Jersey, the science, technology, engineering workforce is critical. Somebody told me within the square mile of this studio there are at least 30 scientists and engineers and that's kind of state wide. So we are intensely a science and technology and engineering state. So the first reason that many of us were created was to help create the workforce for the industry all the way back in the late 1800's. What's changed today is the relationship between R&D. Research and development. Research and development and industry. The classic case in the state of New Jersey, Bell Labs at one time had 25,000 employees. Not only in New Jersey, but a predominance in New Jersey. Now, they're about, I don't know, 1,500 employees. Mm hmm. There's really no more Watson Lab, Sonoff Lab, Xerox's famous PARC Lab is gone. So where is business and industry going? And what's the role of the academy, of academic institutions, in business and industry? So, Doctor Houshmand, is it fair to say, as we listen to Doctor Bloom, that the role of higher education that you're pressed into service and that equals an opportunity then to fill this void? Well, there is definitely an opportunity because..."