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NJEDA Invests $25M in New Innovation Center with Nokia

2/20/2025

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Summary

Story summary

New Jersey Economic Development Authority (NJEDA) collaborates with Nokia Bell Labs to establish a Strategic Innovation Center in New Brunswick.
The center will feature 13,500 square feet dedicated to coworking and lab space, emphasizing communication, AI, and cloud computing.
NJEDA commits $25 million, allocating $10 million for the Innovation Center and $15 million for the Bell Labs Venture Studio.
These initiatives aim to assist startups in commercializing research and generating jobs, bolstering New Jersey's innovation economy.

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Story summary

New Jersey Economic Development Authority (NJEDA) collaborates with Nokia Bell Labs to establish a Strategic Innovation Center in New Brunswick.
The center will feature 13,500 square feet dedicated to coworking and lab space, emphasizing communication, AI, and cloud computing.
NJEDA commits $25 million, allocating $10 million for the Innovation Center and $15 million for the Bell Labs Venture Studio.
These initiatives aim to assist startups in commercializing research and generating jobs, bolstering New Jersey's innovation economy.