Rutgers Business School Archives

Port Authority, AACCNJ partner to build local contracting opportunities

The Port Authority of New York and New Jersey and the African American Chamber of Commerce of New Jersey (AACCNJ) are partnering for a new training program.

Announced Sept. 13, the initiative aims to elevate minority, women-owned and disadvantaged business enterprises (MWSDBE) and service-disabled veteran owned businesses (SDVOB) located primarily in Newark and Elizabeth to compete for prime and subcontractor opportunities associated with the AirTrain Newark replacement program and other projects.

The AirTrain – which debuted in 1996 and has probably outlived its useful life – is slated to be replaced as part of a more than $2 billion project that will supplant the existing system with a new 2.5-mile automated train system that officials hope will begin service in 2026.

In March, the project took another step forward when the Port Authority selected three automated-people-mover (APM) system technology firms to advance to the next round of a multiphase procurement process.

John Harmon, AACCNJ founder, president and CEO — Harmon

“The AACCNJ applauds the Port Authority and its team of professionals in their support of our collaborative approach to identify talented businesses from communities near the proposed AirTrain Newark replacement program at a time when others are trepid about creditably engaging MWSDBE and SDVOB enterprises to compete for public and private sector opportunities,” said John Harmon Sr., the founder, president and CEO of AACCNJ.

As part of the program, participants will be connected directly to leaders in finance, law, accounting, information systems, procurement, supply chain, bonding and human resources, with program sessions held at Rutgers Business School in Newark.

A first cohort of students went through an eight-week program launched by the Port Authority, AACCNJ, Newark Center for Urban Entrepreneurship and Economic Development (CUEED), and Integrity Compliance Consulting (ICC) with a curriculum that included:

Marketing, branding and an elevator pitch;
Project and document management and construction management;
Job cost;
Bonding, general conditions for bidding, project labor agreements and prevailing wages;
Work schedule and forecasting;
Estimating, scheduling and change orders;
Joint venture and contract law; and
Financials, bookkeeping and taxes.

The second cohort began Wednesday with classes starting Sept. 20.

“This is a one-of-a-kind executive education, workforce development and bonding capacity building program,” said Lyneir Richardson, assistant professor of practice at Rutgers Business School and executive director of Newark CUEED. “It leverages the Port Authority’s commitment to local contracting, the connections of AACCNJ, the research on minority business development of CUEED and expertise in procurement of Integrity Compliance Consulting.”

More training opportunities

On Sept. 13, New Jersey American Water launched its third annual workforce training program with a new partner. Click here to read more.

The Port Authority says the effort is another way it is working with to local communities around its facilities to develop programs for workforce development; job creation; diversity, equity and inclusion; and education.

“As one of the largest economic generators in the region, we have a commitment to an inclusionary contracting practice and to ensuring the economic benefits of our infrastructure projects are available to the communities surrounding our facilities, which includes job opportunities,” said Port Authority Chairman Kevin O’Toole.

“The Port Authority recognizes the value of a diverse workforce and supplier base that reflects our region,” said Port Authority Executive Director Rick Cotton. “That diversity will help enhance and promote our operational effectiveness, our brand and our impact in the community, particularly as we are modernizing our facilities.”

Rutgers offers NASACT members reduced tuition

The Rutgers Business School is partnering with a national association of state auditors, comptrollers and treasurers to offer reduced tuition for two online graduate-level programs.

As part of the new partnership, interested members of the National Association of State Auditors, Comptrollers and Treasurers (NASACT) will receive 25% reduced tuition on courses offered through the Online Master of Accountancy in Governmental Accounting Program and the Online Certificate in Government Financial Management Program.

The scholarships are part of a three-year pilot program created by a memorandum of understanding between Rutgers and NASACT.

“The agreement between Rutgers Business School and NASACT reflects the potential of a joint effort and strategic partnership between a large public business school and government,” Rutgers Business School Dean Lei Lei said in a statement. “With more ability to enroll in the Master of Governmental Accounting program, NASACT’s members will gain the knowledge and skills to be even more impactful in their state government roles.”

According to Rutgers, the specialty master’s program and certificate program can help NASACT address its challenge to provide advanced-level and affordable training to its members. NASACT has 186 member organizations that employ more than 21,000 staff. Its mission is to help improve the transparency, accountability and financial management of state governments.

“We believe this relationship will not only assist in our immediate need for high-quality training but could eventually lead to other joint efforts such as collaborating on applied research in governmental accounting and auditing in state governments,” said Kinney Poynter, executive director of NASACT.

Irfan Bora, professor and director of the Master of Accountancy in Governmental Accounting Program, added, “We are very excited to partner with NASACT and its members in the 50 states to further our mutual goal of providing academic training to financial leaders in the public sector through our Governmental Accounting Program.”

About the programs

The Master of Accountancy in Governmental Accounting Program is the only one of its kind in the U.S. available entirely online, according to Rutgers. The 30 required credits can be completed part time around a full-time job.

The Certificate in Government Financial Management Program, also available online, requires the completion of four online courses, which prepare students to sit for the Certified Government Financial Manager (CGFM) exam sponsored by the Association of Government Accountants.

Those interested in learning more about the master’s program may register to attend an online information session, set for noon June 1 (ET). Click here to learn more.

Interested NASACT members may also contact Bora at [email protected].

ICYMI

BioNJ names 3 winners at health equity-focused case competition (slideshow)

BioNJ is trying to boost future leaders and approaches to advance its strategic Health Equity in Clinical Trials initiative.

To that end, the state’s life sciences trade association hosted its Inaugural Health Equity in Clinical Trials MBA Business Plan Case Competition Dec. 3 at Rutgers Business School, naming three winners and awarding more than $20,000 in prize money.

Designed to promote next generation innovators in the space and to identify new methods and models to strengthen clinical trial diversity and expand health equity, eight teams took part in the event.

Competitors – four to five person teams comprised of cross-disciplinary students hailing from MBA or other allied graduate programs – were tasked with developing a business plan that defined a new solution, application or technology to help address health equity in clinical trials, focusing on one specific health disparity. The teams also connected with community-based groups to get a feel for the real-world conditions that stand between their chosen populations and taking part in clinical trials.

Meet the judges:

Naikia Atkinson, director, U.S. Clinical Trials Diversity and Inclusion – Sanofi
Schylr Greggs, director, Technology Operations – Medidata
Sharon Hanlon, head, Clinical Trial Engagement & Enrollment – Bristol Myers Squibb
Maribel Hernandez, vice president, Clinical Operations & Special Projects – PTC Therapeutics
Jack Rosenberg, manager, Investments and Business Development – TrialSpark
Del Smith, co-founder & CEO – Acclinate
Lolita Smith, program manager, Rare Disease Diversity Coalition – Black Women’s Health Imperative
Matt Walz, CEO – TrialBee

The eight teams – Baylor College of Medicine, Northwestern University & Rice University; Columbia University; Johns Hopkins University; Rutgers Business School; Temple University; Tuck School of Business at Dartmouth; University of Arkansas at Pine Bluff; and University of Pittsburgh – focused on disease areas including Alzheimer’s, heart failure, multiple sclerosis, diabetes type 1 and type 2, colorectal and cervical cancers, and oncology.

The winners

Johns Hopkins University took home the first-place prize ($10,000) for its plan to increase representation in clinical trials using community engagement and digital tools for the treatment of Alzheimer’s disease.

Second place (and a $7,000 prize) went to host Rutgers Business School, which focused its work on using population health and real-world data analytics to calculate health equity targets specific to clinical trial sites in prostate cancer.

Taking third was Baylor College of Medicine, Northwestern University & Rice University ($3,500) with its proposal to increase Hispanic/Latinx involvement in clinical trials by training community health care workers from refugee and immigrant populations.

In April 2023, a whitepaper including all presentations will be published and made available during BioNJ’s BioPartnering Conference. That occasion will also see the three winning teams present their plans to the more than 500-person event, with all students invited to attend.

BIoNJ President and CEO Debbie Hart speaks during the group's Inaugural Health Equity in Clinical Trials MBA Business Plan Case Competition, held Dec. 3, 2022, at Rutgers Business School. — Hart addresses the room during the Dec. 3 event. – BIONJ

A number of Garden State companies have made efforts to expand their own clinical trials recently, including Bristol Myers Squibb, Novartis and Valley Health.

“BioNJ’s mission is to help our Members help Patients. It is with the vision of Health Equity for all that BioNJ launched our Health Equity in Clinical Trials Strategic Initiative, of which the MBA Business Plan Competition is one of three important workstreams,” said BioNJ President and CEO Debbie Hart in a statement. “In addition to thanking our extraordinary teams for their commitment and time, I’d like to thank our Steering Committee; industry supporters, including Bristol Myers Squibb, Medidata, Amicus Therapeutics, PTC Therapeutics, Sanofi, Insmed, PsychoGenics, Thermo Fisher Scientific, Crowley Law and the Rare Disease Diversity Coalition; our expert judges and our colleagues from the Kith Collective.

“It was only with their guidance and support that we have been able to bring this important initiative forward,” she said.

RU professor Robinson named provost for Rutgers University-Newark

Jeffrey Robinson, a Rutgers Business School professor, author and co-founder of the Center for Urban Entrepreneurship and Economic Development, is Rutgers University-Newark’s new provost and executive vice chancellor.

“Jeff has earned a reputation as a thought leader, author, sought-after speaker and trainer working at the intersection of economic development, social problem solving, inclusive innovation and workforce diversity,’’ Chancellor Nancy Cantor said in a statement accompanying the school’s June 23 announcement of Robinson’s appointment. “We are thrilled to welcome him to his new role on our leadership team.’’

Robinson’s appointment is effective July 1.

He joined Rutgers-Newark in 2008, specializing in management and entrepreneurship. He holds the Prudential Chair in Business and is a professor of Management and Global Business at Rutgers Business School.

Rutgers Business School professor Jeffrey Robinson, an internationally known author and co-founder of the Center for Urban Entrepreneurship and Economic Development, was named Rutgers University—Newark’s new provost and executive vice chancellor June 23, 2022. — Jeffrey Robinson’s appointment as Rutgers University—Newark’s provost and executive vice chancellor is effective July 1. – RUTGERS

“I am excited to contribute to the mission of Rutgers University-Newark as an anchor institution in the city and region,” Robinson said. “Specifically, I look forward to focusing on innovation and economic development along with faculty recruitment and retentions. I am particularly drawn to RU-Newark’s strengths in the arts, STEM, and entrepreneurship.”

According to the announcement, the New Jersey native has extensive experience with major grant writing and managing — including multimillion-dollar support from the National Science Foundation for building and expanding inclusive pathways to STEM. Robinson has also secured funding across federal and state agencies, in addition to operators in the private sector, to engage entrepreneurs from diverse backgrounds. His most recent publication is the 2022 Harper Collins guide “Black Faces in High Places: 10 Strategic Actions for Black Professionals to Reach the Top and Stay There,” which he co-authored with Rutgers alumnus, and season 4 winner of “The Apprentice,” Randall Pinkett.

Thanks to his extensive and publicly engaged scholarship, Rutgers said Robinson has created “vitally important” programs as the academic director for CUEED. Those qualities have also made the academic in demand as a consultant for Fortune 1000 corporations, foundations and social sector organizations, according to the school, like KIPP Schools, Legrand North America, The National Urban League and the National Association for Multi-Ethnicity in Communications (NAMIC). Robinson has also played a part in building bridges across sectors to serve shared interests with events like the New Inclusive Innovation Summit, Global Social Venture Research Conference, and International Social Entrepreneurship Research Conference.

Robinson holds five academic degrees — spanning engineering, urban studies and business: He completed a Bachelor of Arts in Urban Studies at Rutgers College and a Bachelor of Science in Civil Engineering at Rutgers School of Engineering, a Master of Science in Civil Engineering Management from Georgia Institute of Technology as a GEM Fellow, and an M.Phil. and Ph.D. in Management and Organizations from Columbia University’s Graduate School of Business. He is also board chair of the nonprofit Support Center, which specializes in organizational development, consulting and executive transition, and chair of the board of trustees of the Sphinx Scholarship Fund.

“Jeff’s work exemplifies Rutgers-Newark’s strategic commitment to social mobility, publicly engaged scholarship, and anchor institution collaboration as a major urban research university where cross-disciplinary collaboration is paramount and where we are profoundly committed to leveraging our strengths with partners locally, statewide, nationally, and globally to move the needle on the most pressing challenges facing our communities and our world,” Cantor added.

Rutgers Business School awards $50K to business plan competition winners

Participants in the 2022 Business Plan Competition at Rutgers Business School included Rutgers alumni as well as current Rutgers undergraduates and MBA students. – RUTGERS BUSINESS SCHOOL

Cyndrom Apparel founders Andrew and Joe Strafaci won the $20,000 top prize in the annual business plan competition at Rutgers Business School, the school announced May 2.

Rutgers Business School doled out $50,000 in prizes to participants in the 2022 Business Plan Competition, which included university alumni, current undergraduates, and MBA students.

Andrew Strafaci, who completed a dual MBA and law degree at Rutgers in 2020, created the Cyndrom name and logo while he was an undergrad studying civil engineering at The College of New Jersey. He and his brother grew the idea into an action sports apparel company that generates about $20,000 in annual revenue selling its “Ride On” line of hats, hoodies and beanies popular among skateboarders, snowboarders and cyclists across the country.

The Strafacis were one of five teams that took part in the April 22 competition for funding provided by the Sales Executive Club of Northern New Jersey Foundation.

The judges awarded a $15,000 second prize to MBA students Jason Miller and Matthew McQueeny, co-founders of Big League Pillows; and $10,000 to a team of Rutgers undergraduates, including Anna Zhang and Iris Zhorov, who are building the Smart MS3 device to help patients improve the effectiveness of their physical therapy.

The judges awarded two smaller prizes as well: $2,500 to Rutgers MBA student Kathryn Ruhno, whose early-stage startup Raw Paw Life sells dog food and treats; and $2,500 to Andrew Zambrowski, an alumnus of the Rutgers Business School undergraduate program who pitched for Monkey Business, a company that offers small businesses an app to help them compete more effectively against established brands.

Each team a made short pitch describing their companies, highlights of their strategy and performance, and projections for future growth.

The Sales Executive Club of Northern New Jersey Foundation sponsors the business plan competition annually to encourage entrepreneurship in Rutgers Business School students and alumni. Over the past 20 years, Rutgers’ announcement said that Richard Romano, president of the foundation and a member of Rutgers Business School’s board of advisors, has helped make more than $1 million in funding available to student and alumni founders.

“The business plan competition is significant in a couple of ways,” said competition organizer and professor Doug Brownstone. “Student entrepreneurs are able to win money to get their businesses accelerated and the top five teams also get mentoring.”

“These are full-time students or alumni who have jobs, and they are also working on starting up businesses so it’s extremely valuable,” he said.

The competition has awarded funding to such Rutgers student-started companies as Playa Bowls; Emma’s Premium Services; Bibi Beverages; the Turf, Surf and Earth restaurant; Perfect Life Nutrition; and the Zwiren Title Agency.

Andrew Strafaci will use the prize money to grow his company. He grew up skateboarding along the Jersey Shore and said the funding will allow him and his brother to expand Cyndrom from a casual clothing line to an active wear brand that offers more technical sports gear like rash guards for surfers and gloves for snowboarders.

“The money will be a catalyst for growing Cyndrom,” Strafaci said. “The money also says Rutgers believes in me. Having that support is important because it’s such a great school.”

Cyndrom products currently sell at a Belmar surf shop and a Red Bank skate shop, as well as online and at pop-up stores at the Jersey Shore. Stafaci said he plans to use the prize money to increase inventory and marketing; his goal is to increase sales to $1 million by 2025.

In addition to Romano, the judges for this year’s competition were John Wilson, who also represents the Sales Executive Club of Northern New Jersey Foundation; Sharon Lydon, Rutgers Business School’s associate dean of alumni and corporate engagement; and Carolyn Lange, chief financial officer of the Community Foundation of New Jersey.

Mayuresh Pandit, a Rutgers MBA alumnus and senior product manager at Amazon, mentored students alongside Brownstone. He helped to judge the teams as well.

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