State of New Jersey (DIA)

This budget amendment request elevates the MarketShift (NJMS) program's unique focus on small and medium-sized enterprises (SMEs) in defense supply chain, as well as addressing current gaps in its cluster development capacity. The central theme for this proposal is targeting SMEs who have been adversely affected by defense cutbacks with the intelligence, programs and service, and connections to intellectual property (IP) and other resources for innovation-related investments. A central objective of the MarketShift grant is preserving New Jersey's aerospace and defense supply chain. Companies in this supply chain are generally SMEs who face challenges related to their ability to invest time and resources on identifying, vetting and positioning innovation opportunities, as well as the capital required to follow a path to commercialization. However, it is precisely these investments in innovation that drive competitiveness and growth in the supply chain, one of our primary goals.