The Advancement of Invention Award was created to honor institutions or individuals in the non-profit sector who are doing important work to promote invention. This year the New Jersey Inventors Hall of Fame recognizes the role that the New Jersey Technology Council (NJTC), Mount Laurel, has played in nurturing, supporting, and advancing the interests of technology-driven businesses.

Technology-intensive businesses have played a major role in New Jersey's economy since Thomas Alva Edison set up laboratories in Menlo Park and West Orange in the late 1800's. Today, New Jersey leads the U.S. in the number of significant technological innovations introduced in the past 50 years. Prior to the formation of the New Jersey Technology Council in 1996, New Jersey had numerous professional organizations dedicated to serving the business community.

Throughout 1996, an increasing number of New Jersey chief executive officers and business leaders expressed the need for a strong umbrella organization to meet the technological community's unique requirements for information, networking and representation in the public arena.

Objectives of the NJTC include offering companies the chance to network, providing small to mid-size companies with access to financing and other entrepreneurial assistance, and promoting the need for more education about technology. The council collects and disseminates industry-related data, promotes the development and retention of high tech industry statewide and lobbies for industry-related initiatives before the New Jersey Legislature.

The NJTC membership falls into three categories. Technology members are companies involved in the research, development, manufacture, or supply of high-technology products. Five major industry councils comprise this group. These councils focus on key industry segments such as biotechnology/pharmaceutical, electronics, information services/software, technologically-innovative consumer products, and telecommunications.

Technology support members include firms and institutions that provide professional, commercial, or education services or products to high-technology industries. Lastly, members belong to business associations, economic development agencies, entrepreneurial support groups, and other non-profit groups.

Undergirding the value of the NJTC to New Jersey's high tech industry are the 1081 member companies that have joined since its establishment.