The third annual Propelify Innovation Festival, which takes place along Hoboken’s waterfront each year, attracted 8,000 to 10,000 attendees from all over the world on Thursday. They learned about new technology from talks and exhibitors, and enjoyed music, food, and drinks.
This year’s festival included onsite tech recruiting, a startup competition with over $3,000 in prizes, a casting call for season three of Entrepreneur Elevator Pitch, startups, investors, drone demos, and fireworks.
More than 50 speakers graced two separate stages, including founder Aaron Price, Mayor Ravi Bhalla, Gov. Phil Murphy, former GE Vice Chair Beth Comstock, and founders and execs from Rent the Runway, Google, Plated, Contently, AeroFarms, NEA, Snopes, X.ai, Samsung, iHeart Media.
Words of wisdom
“Hoboken is historically a city of innovation a city of inventors,” said Bhalla, noting that the first steam boat, zipper, Oreo cookie, Twinkie, and game of organized baseball, all began within the mile square.
Bhalla said Hoboken is aiming to be a leader in technological innovation. “We are taking the best and the brightest in technology innovations that have been implemented around the world, over 40 different applications and devices, and putting them all into the city of Hoboken to create a comprehensive smart city,” he said. Aspects of this include providing free wifi in parts of the city, and digital kiosks with city information.
Price said Propelify is about more than just having a great idea, but actually gaining momentum and being spurred into action — “propelling ideas forward.”
Price said the festival was built so that it was a “work day.” He said, “This is not a day off, this is a day on.”
Price also hosted a “fireside” with Gov. Phil Murphy, a two-way conversation.
Murphy said he knew early on that New Jersey’s innovation economy needed a jump-start.
“I was kicking the tires on whether to run for governor, and I came to the conclusion literally I think maybe within the first 24 hours of kicking the tires that we need to reboot the innovation economy,” said Murphy. “That was a natural for us. It was in our DNA. It was in our history, not just in Hoboken …but in this county and around the whole state…we [New Jersey] were Silicon Valley before there was a Silicon Valley.” He referred to all of the inventions that came from New Jersey.
Murphy summarized a report that came out last summer called “Reseeding the Garden State,” and said, “In the innovation economy, we were dealt an extraordinary hand. We have completely blown it.” But he said it could be fixed by making the appropriate investments, like in education, so people will want to learn and stay in New Jersey.
Murphy said New Jersey only has 15 incubators in the state while NYC has 179 and venture capital in New Jersey is down 40 percent over the last four years, while the rest of the country is up.
He said the Hub in New Brunswick, which will be an incubator for science and technology research, and will attract new technology and other jobs to New Jersey.
He also said New Jersey is moving towards creating the largest off shore wind generation by 2030, and Newark is in the running to be the location of the second Amazon headquarters.
Marilyn Baer can be reached at marilynb@hudsonreporter.com.
