The New Jersey Economic Development Authority (NJEDA) announced it will partner with Nokia Bell Labs, the industrial research arm of Nokia, to launch a Strategic Innovation Center (SIC) consisting of the NJ Nokia Bell Labs Innovation Center and Bell Labs Venture Studio focused on enabling startups to accelerate and commercialize intellectual property from Nokia Bell Labs and local universities with an emphasis in the fields of communication, artificial intelligence (AI), cloud computing, and optical and wireless networks.
The NJEDA plans to make a $25 million investment to support the NJ Nokia Bell Labs Innovation Center and the Bell Labs Venture Studio. The NJ Nokia Bell Labs Innovation Center will be located along the state’s innovation corridor at the planned Health & Life Science Exchange (HELIX) 2 building in New Brunswick, which is expected to open by 2028. The Bell Labs Venture Studio will initially be located at Nokia Bell Labs' Murray Hill campus by mid-2025 and will later be housed within the NJ Nokia Bell Labs Innovation Center.
“For a century, Nokia Bell Labs has been a world-class leader in research and development and our partnership with them sends a clear message that when it comes to technology and innovation, the Garden State is the place to be,” said Governor Phil Murphy. “By providing office and lab space and networking and collaboration opportunities, the NJEDA’s Strategic Innovation Center initiative is helping entrepreneurs grow their business and develop the next generation of life changing technologies.”
“Bell Labs has long been at the forefront of cutting-edge innovation and this partnership will help bring new technologies to the marketplace and bolster New Jersey’s innovation ecosystem,” said NJEDA Chief Executive Officer Tim Sullivan. “Since he took office, Governor Murphy has been committed to reestablishing New Jersey as a national leader in innovation and he has invested resources to help entrepreneurs grow and scale their business. Powered by the NJEDA’s Strategic Innovation Center initiative, the NJ Nokia Bell Labs Innovation Center and New Jersey Bell Labs Venture Studio will foster the development of state-of-the-art technology, create new jobs, and drive long-term economic growth.”
The NJ Nokia Bell Labs Innovation Center will be a 13,500 square foot co-working office and lab space and offer specialized equipment to support the companies’ ongoing research. The center will provide emerging companies with necessary business training, operating services, physical space, and management guidance to transform their research into commercially viable products and services. Pending approval by its Board, the NJEDA intends to invest $10 million into the project on a 1:1 basis with Nokia. Additionally, Nokia plans to partner with at least one of the state’s engineering schools, which will allow the companies at the center to benefit from various university resources.
The Bell Labs Venture Studio will be operated by the Nokia Ventures team, and over a five-year period the studio will facilitate company creations that are expected to generate hundreds of high-skilled jobs in the state. The venture studio will provide entrepreneurs and researchers with necessary business training, operating services, and management guidance to transform their research into commercially viable products and services. The venture studio will also assist its ventures with access to a network of academic, corporate, and venture partners to accelerate venture growth. Pending approval by its Board, the NJEDA intends to invest $15 million into the project on a 1:1 basis with Nokia.
“Nokia Bell Labs has a long-standing commitment to innovation and excellence in New Jersey. Our partnership with NJEDA to launch the Bell Labs Venture Studio and the NJ Nokia Bell Labs Innovation Center is a testament to our dedication to fostering cutting-edge research and supporting the growth of startups in the state,” said Nokia Chief Strategy and Technology Officer Nishant Batra. “By collaborating with academic institutions and leveraging our intellectual property and state-of-the-art facilities, we aim to drive technological advancements and bolster New Jersey's innovation economy.”
“Bell Labs has proudly called New Jersey home for most of our 100-year history, and we are thrilled to launch the Bell Labs Venture Studio in partnership with NJEDA in 2025, as we celebrate our centennial anniversary,” said Nokia Bell Labs Solutions Research President Thierry Klein. “The Bell Labs mission has always been to create ground-breaking technologies that have a demonstratable impact on society and industry. This initiative will not only create new opportunities for emerging startups in New Jersey but also unlock the potential of groundbreaking innovations, and reinforce our legacy of pioneering breakthroughs in communication, AI, and other transformative technologies.”
“This announcement marks another exciting milestone for the HELIX and New Jersey’s innovation economy, strengthening our communities and reaffirming our state’s position as a leader in cutting-edge industries,” said Speaker Craig Coughlin. “Through this partnership, we are driving economic growth and creating opportunities for local scholars, entrepreneurs, and businesses to prosper. It was legislation, the Economic Recovery Act of 2020, that shows world-class companies like Nokia that New Jersey is ready to partner with the private sector to make smart, strategic investments in the jobs of the future. I am proud of our progress and look forward to the lasting impact it will have for generations to come.”
SICs are facilities that support research and development, innovation, and entrepreneurship through mentorship, networking opportunities, hands-on training, business support services, and education opportunities. SICs can be accelerators, incubators, or research centers. Having a physical location where entrepreneurs can collaborate will help support new, diverse innovators and help drive long-term economic growth.