Looking for incubator space for your early-stage tech company? Capital for your emerging biotech company? Or, are you ready to take your R&D or manufacturing operations to the next level? New Jersey offers life sciences and tech company assistance at every stage of growth.
New Jersey is committed to nurturing and supporting its tech and life sciences companies. We drive innovation through incentives, incubators, accelerators, co-working spaces and a supportive ecosystem that can provide the resources and connections you need to flourish and grow here.
Individuals or entities that invest in qualifying emerging technology companies may be eligible to receive refundable Angel Investor tax credits of up to 20% of their qualified investment, with an additional five percent bonus available for investments in a business located in a qualified opportunity zone, low-income community, or a business that is certified as minority- or women-owned by the State.
In order to be eligible, the emerging technology company must: employ fewer than 225 full-time employees (75% of whom work in New Jersey); do business, employ or own capital or property; or, maintain a New Jersey office. It also must conduct one of the following activities in the State:
|wdt_ID||State||New Jersey||New York||Connecticut||Maryland|
|1||Program||Angel Investor Tax Credit Program||Qualified Emerging Technology Company Certification & Capital Tax Credit||Angel Investor Tax Credit Program||Biotechnology Investment Incentive Tax Credit|
|2||Tax Credit Amount||Beginning with investments made after 1/1/2020, 20% of the qualified investment made in a NJ emerging technology business, with potential increase to 25% if the business is certified M/WBE or located in an Opportunity Zone or New Markets Tax Credit Census||10% of a qualified investment if investor commits to hold investment for 4 years; 20% of a qualified investment if investor commits to hold investment for 9 years. The total amount of credit allowable to a taxpayer for all years may not exceed $150,000 fo||Provides qualified investors with a 25% credit against Connecticut’s state income tax when they invest at least $25,000 in qualifying businesses.||50% of a qualified investment in only in Biotechnology Companies; max credit of $250,000 per Angel Investor or Company; cannot exceed 15% of total fiscal year program funding.|
|3||Annual Funding Commitment||$25 million||No annual funding commitment||$11 million as of 2010||$10 million in 2014. Subject to appropriation of funds.|
|5||Carry Forward||15 years for corporations||No||5 years||No|
|6||Business Eligibility – # of Employees||Fewer than 225 employees; 75% must be employed in NJ||100 or fewer employees; 75% must be employed in NY State||Fewer than 25 employees including shareholders, members or active partners; 75% must be residents of CT||Fewer than 50 full-time employees; must have at least one full-time employee engaged in biotechnology research in MD|
|7||Business Eligibility – Location||Does business, employs or owns capital or property, or maintains an office in New Jersey||Has research and development activities in New York State||Principal place of business is in Connecticut||Has its headquarters and base of operations in Maryland|
|8||Business Eligibility – Years Operating in State||No requirement||No requirement||Operating in CT for less than 7 consecutive years; shall have received less than $2 million from angel investors; Investors must meet the accredited investor definition and cannot be VC’s; can’t own more than 50% of company||In active business no longer than 10 years (up to 12 years if in the process of regulatory approval) and once certified as a QMBC, may remain eligible for a qualified investment for up to 10 years|
Turn your company’s net operating losses into working capital or research funds.
The NOL program enables qualified unprofitable New Jersey technology or biotechnology companies to sell their net operating losses and R&D tax credits for at least 80% of their value to unrelated unprofitable corporations, up to a maximum lifetime benefit of $15 million per business.
The NOL program is open to technology and biotechnology companies whose primary business involves the provision of a scientific process, product or services. The company must also own, have filed for, or have a license to use protected, proprietary intellectual property, such as a patent or registered copyright.
Meet one-on-one with angel and venture capital investors.
Held twice a year, NJ Founders and Funders events pairs entrepreneurs with investors based on their company’s profile and investment thesis. Venture investors meet with companies to give honest, open feedback on business models, strategy and technology. More than 150 entrepreneurs and startups have connected with investors at NJ Founders and Funders events.
NJ Ignite provides free rent support for entrepreneurs seeking to operate in collaborative work spaces, while providing work spaces with a competitive advantage and greater value proposition to offer prospective tenants.
The Edison Innovation Fund is a suite of financing instruments designed to develop, sustain, and grow technology and life sciences businesses in New Jersey. Through the Edison Innovation Angel Growth, VC Growth and Growth Stars funds, which are structured as subordinated convertible debt, early-stage, emerging technology and life sciences companies are provided growth capital to directly fund uses such as hiring key staff, product marketing and sales.
Need a workspace to help your technology or biotech business take root and grow?
New Jersey is home to a robust network of incubators, accelerators and co-working spaces to support the development of start-up and early-stage technology companies. Here are just a few:
We provide customized RFI responses, demographics, detailed market assessments and other complimentary business relocation and expansion services. When your company chooses to grow in New Jersey, we also will help you publicize your good news.
We’ll make your property search seamless, so you find the site that best meets your relocation or expansion needs.
Our public and private partners provide a wide range of services. From higher education research collaboration to regulatory and legal assistance to workforce training, they’ll ensure you have a smooth landing.