Economic Development Partnership Launches BetterFuture@Work

On Oct 4, 2024

BetterFutureLabs (BFL), in collaboration with TechUnited:NJ and Rutgers, The State University of New Jersey, launches BetterFuture@Work, a partnership focused on shaping the future of work and driving new commercial and educational opportunities within New Jersey. According to the partners, the initiative is designed to capitalize on the state’s unique industry landscape, workforce, and leading research capabilities, leveraging emerging technologies to accelerate business innovation and job creation.

BetterFuture@Work will serve as an intellectual and commercial hub, fusing BetterFutureLabs’ startup studio platform, technology, and expertise with Rutgers’ world-class research, facilities, and talent. Together, the parties will focus on driving the development of 2-5 new ventures annually, each strategically aligned with the evolving needs of New Jersey’s economy and workforce.

The partnership will focus on several key objectives:

• Development of New Commercial Opportunities: The collaboration will drive the creation of ventures that respond to the demands of the future workforce, leveraging Rutgers’ academic and research capabilities.
• Educational and Entrepreneurial Engagement: The initiative will integrate venture studio methods and advanced tools into educational programs at Rutgers, offering students, faculty, and staff access to hands-on entrepreneurial experiences.
• Job Creation: The partnership will be focused on creating high-value jobs in New Jersey, as all new companies founded in the program will be headquartered there.

“We are excited to embark on this journey with Rutgers and TechUnited”, said Mark Yackanich, partner at BetterFutureLabs. “BetterFuture@Work represents a critical step in ensuring that New Jersey remains at the forefront of innovation, particularly as rapid technological advancements continue to reshape the way we all work. By combining the strengths of our startup studio with Rutgers’ research excellence and TechUnited’s expansive community, we are poised to create sustainable, high-impact partnership that will help fuel the state’s economic growth and high-value job creation.”

Aaron Price, CEO of TechUnited, commented, “Our partnership with BetterFutureLabs and Rutgers is a testament to the power of collaboration in driving forward-looking innovation. BetterFuture@Work will not only provide the platform and resources necessary for the creation of new companies but will also help create new opportunities for New Jersey’s workforce.”

Rutgers, represented by its Office for Research, will play a central role in the initiative, supporting collaboration across the university and providing access to critical resources, including facilities and research expertise. “Rutgers is proud to partner with BetterFuture@Work,” said Michael E. Zwick, Senior Vice President for Research at Rutgers University. “This initiative aligns with our mission of supporting all researchers’ endeavors at Rutgers, advancing knowledge, and contributing to the public good while transitioning new technologies from research to commercial viability. By fostering partnerships that bridge academia and industry, we are driving innovation that has real-world impact, particularly in areas vital to the state’s economic future.”

BetterFuture@Work is set to begin operations in October of 2024, with the first ventures expected to be launched within the next six months.

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