The quality of institutional research, particularly at New Jersey's research universities, is critical to the competitiveness of both the institutions and the state. Strategic efforts to enhance the quality of research, expand the boundaries of knowledge, and increase the amount of research funding for colleges and universities in the state are essential for New Jersey to maintain a competitive economy and improve quality of life. This document reviews five broad areas of research that are recommended as targets that represent particularly strong opportunities for increased funding for New Jersey. The five research areas are: (1) Stem Cell Research; (2) Biomedically Related Nanoscience; (3) Homeland Security; (4) Advanced Imaging Technology; and (5) Genomics/bioinformatics. These five targeted research areas are summarized in this document, with an explanation about opportunity, research focus, and current assets in the specific target areas or a limitation of targets over time. These five areas provide a strong initial focus with potential to greatly increase the amount of federal and other research dollars for higher education in New Jersey.