Money & Business

Friday Buzz: Concrete Evidence on the Benefits of Public-Private Partnerships

By / Oct 23, 2015 (moodboard/Thinkstock)

A study of the past five years of economic activity in New Jersey reveals a number of insights about partnerships that associations nationwide can learn from. Plus: How can you make the perfect password?

A new report from the NJ Policy Research Organization provides a comprehensive look at how integral the bonds that tie businesses, associations, state governments, and academia are to economic success.

The Road to an Innovation Ecosystem [PDF] report found that, over the past five years, the New Jersey tech industry has improved thanks in large part to collaborative efforts between businesses, academic institutions, and state government.

Expanding access to funding and opportunities for startups are just a few of the benefits found in the report, according to Tyler Seville, the executive director of Innovation New Jersey, a coalition of businesses, schools, and trade associations.

“[This collaboration] created additional funding opportunities for businesses that might not have gotten a shot already,” Seville told NJ 101.5,”and it’s supporting small businesses as well—small businesses, startups, companies, and entrepreneurs that really (had) not gotten a shot here.”

And New Jersey leaders have seen how other states have succeeded by lowering the communication barriers between business, academic, and government groups.

“However, to diversify their economies, other states learned how to change the culture of their academic communities by encouraging collaborations to meet the challenges faced by industry,” the report states [PDF]. “A similar culture shift is now underway in New Jersey, with universities collaborating both with industry and each other.

Those shifts include making groups like the New Jersey Economic Development Authority, Rutgers University, Rowan University and the New Jersey Institute of Technology more accessible to innovators.

Read the full report here [PDF] for additional insights into how your own association can build partnerships that foster statewide success.

Security Tip of the Day:

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When it comes to protecting your information online, your first line of defense usually comes from of a combination of letters, numbers, and symbols. But how do you know if your password is up to the challenge? Luckily, University of Southern California researchers asked the same question and have some definitive answers on how you can create a password that will leave potential hackers scratching their heads. Read Washington Post reporter Ana Swanson’s story on their findings here.

Other Good Reads:

Is your nonprofit organization struggling to get a foothold in the Twitterverse? E2M strategist Ankit Panchal has an editorial on SocialFish with tips on how nonprofits can make social media work for them.

Slack has taken offices by storm, but its reign may not last long. Take a look at these new applications hoping to dethrone the king of intra-office communication.

The price of medicine is often a tough pill to swallow, and healthcare organizations have had enough. See the demands 150 health organizations have for the controversial Turing Pharmaceuticals.

Eli Zimmerman

Eli is studying Journalism at the University of Maryland. When not studying, he likes to relax with a nice book or a couple rounds at the local boxing gym. More »

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