The New Jersey Innovation Institute (NJII) has received a $5.67 M grant from the U.S. Department of Defense (DoD) to create NJ MarketShift, a model for creating regional industry clusters and strengthening economic development in New Jersey. NJ MarketShift is sharply focused on a statewide strategy to support New Jersey’s aerospace and defense (A&D) industry to diversify markets, foster product innovation, and strengthen both companies and supply chains integral to defense needs and the New Jersey economy. NJ MarketShift is the largest investment made by the Department of Defense for this type of activity.
What We Do
NJ MarketShift offers existing and future defense suppliers a series of web-based, interconnected functions that will support these industries with new strategies to improve their competitiveness, penetrate new markets, develop new products and grow their business. To facilitate this process, NJII is building and facilitating design teams made up of New Jersey companies and leadership organizations who will work together to strengthen and co-produce technology and support tools that will help them compete. These design teams have a shared interest in outcome-driven activities.
How We Help
NJ MarketShift aligns efforts from a set of New Jersey and national/international institutions to offer product innovation and market diversification services, yielding higher value to companies and reducing redundancies around existing A&D program offerings. For New Jersey defense suppliers, NJ MarketShift’s successful implementation will also increase market diversification and revenue from contracts outside of the defense sector, resulting in job growth for New Jersey and revenue growth for those companies.