NJIT In Newark Gets $3M Donation From Venture Capitalist

NEWARK, NJ — Venture capitalist John Martinson will be making a milestone $3 million donation to the New Jersey Institute of Technology (NJIT), administrators recently announced.

The donation will enable NJIT to “broaden and deepen the curriculum and real-world experiences” for top scholars at its Albert Dorman Honors College (ADHC) and throughout the university campus.

According to ADHC dean Louis Hamilton:

“The largest single gift in the 27 years of ADHC will enable the college to add two new educational tracks; triple the number of scholars in the Honors Summer Research Institute; more than double the number of scholars who study abroad; add internships and cooperative educational experiences; restructure its course offerings; and create new opportunities for faculty affiliations in the college.”

The “transformational” donation will benefit some 650 Albert Dorman honors scholars, as well as the nearly 300 dean’s scholars at the university’s five other colleges, administrators said.

According to a NJIT news release, Martinson is chairman of Martinson Ventures, which has financed and guided more than 50 private companies, particularly in the software and technology sectors, with total investments of $2 million to $5 million. Earlier in his career, he founded Edison Partners, which invested more than $2 billion in 230 companies and realized 180 exits. Martinson is also co-founder of both the New Jersey Technology Council and New Jersey Venture Fair.

NJIT recognized Martinson’s accomplishments in 2000 with an Entrepreneurial Leadership Award. Subsequently, he became a major donor, investing a total of $835,000 in three NJIT initiatives: its Computing Education Program, its Institute for Teaching Excellence and VITAL@NJIT, short for Virtual, Immersive, Technologically Augmented Learning. Those gifts came under the leadership of previous presidents Joel S. Bloom (founding dean of the ADHC) and Saul K. Fenster and with the guidance of former Provost Fadi P. Deek.

“What impresses me is that NJIT is growing in size and growing in national stature,” said Martinson, who holds a bachelor’s degree in aeronautical engineering from the U.S. Air Force Academy, a master’s degree in astronautics from Purdue University and an MBA from Southern Illinois University.

“I’m enthusiastic about the university’s progress, transformation and vision,” he added. “I’ve visited over 20 honors colleges and Dorman is among the best I’ve seen. It’s a way to attract the very top students to local institutions. And these top 10 percent become leaders on campus and after graduation.”

In recognition of Martinson's donation, NJIT will name its honors residence hall as the “John Martinson Honors Residence Hall.” A dedication will take place in the spring 2023 semester.

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