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? The New Jersey Economic Development Authority (NJEDA) 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||Ohio|
|1||Program||Angel Investor Tax Credit Program||Qualified Emerging Technology Company Certification & Capital Tax Credit||Angel Investor Tax Credit Program||Maryland 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||Provides qualified investors with a 25% credit against Connecticut’s state income tax when they invest at least $25,000 in qualifying businesses.||Provides 33% in eligible firms or 50% for eligible firms in approved rural areas|
|3||Annual Funding Commitment||$35 million||No annual funding commitment||$5,000,000||$5,000,000|
|5||Carry Forward||15 years for corporations||Timeframe not defined||5 years||Timeframe not defined|
|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%|
|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||Not defined|
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.
The Angel Match Program is part of a broader effort by the State of New Jersey to support and encourage investment in early-stage companies and to promote economic growth and innovation in the state. Also known as the Angel Investor Tax Credit Program II, the Angel Match Program is a continuation of the original program with additional features. It is designed to support early-stage New Jersey innovation companies with an additional funding source from the State Small Business Credit Initiative (SSBCI) to bridge the gap experienced by companies in this stage of the business cycle. The funding will propel the creation of an entrepreneurial ecosystem that stimulates innovation and economic development, providing employment opportunities for New Jersey residents.
This program matches angel investors’ direct investment in early-stage, product-based technology companies within targeted industries on a 1-to-1 basis with unsecured convertible notes ranging from $100,000 to $500,000.
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. Rent can be covered for up to 2, 4 or 6 months at qualified coworking, incubator or accelerators. An additional month of support will be added if the workspace is located in an Opportunity Zone, affiliated with a hospital system or New Jersey university or is recently established.
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.
The New Jersey Innovation Evergreen Fund, managed by the NJEDA, provides early-stage funding to companies developing innovative technologies and products in a range of industries, including healthcare, energy, transportation, and others. The Evergreen Program secures funding and strategic support from the sale of state corporate tax credits in a competitive auction, then partners with private venture capital firms to co-invest the funds in eligible early-stage businesses in New Jersey. The fund invests in companies that are headquartered or have significant operations in New Jersey, with a focus on those that have the potential to create high-paying jobs and generate economic growth in the state.
The fund is designed to be self-sustaining over the long term. As portfolio companies are sold or go public, the profits are reinvested back into the fund, allowing it to continue supporting new startups and innovation in the state.
Need a workspace to help your business take root and grow? New Jersey is home to a robust network of incubators, accelerators and coworking spaces to support the development of startups and early-stage technology and life sciences companies. Here are just a few:
A. Hackensack Meridian Health Center for Discovery & Innovation (CDI): Residing next to the Hackensack Meridian School of Medicine in Nutley, CDI brings together top researchers and offers streamlined systems to accelerate the timeline from discovery to bedside.
B. New Jersey Bioscience Center: Located in North Brunswick between Princeton and Rutgers Universities, the NJ Bioscience Center is managed by New Jersey EDA and offers incubator and step-out labs at its 50 acre campus. Tenant companies include Chromocell and Allergan.
C. VentureLink @ NJIT: Housed on the campus of the New Jersey Institute of Technology (NJIT) in Newark, VentureLink companies have access to NJIT facilities, researchers, mentors and programming to help grow their business. Its Soft Landings incubator designation makes it an ideal launch pad for international businesses.
D. Institute for Life Science Entrepreneurship (ILSE): ILSE is a life science technology accelerator, business incubator and a research institute located in Union.
E. Newark Venture Partners (NVP) Labs: Tech startups selected for the NVP “bridge-to-seed” accelerator program have access to a 25,000 sq. ft. coworking space in Newark with early-stage funding and mentoring from Audible and other corporate partners.
F. Coworkx Studio: A modern, flexible office space located in Dover with private suites and hot desk offering best-in-class services and amenities.
G. Princeton Innovation Center BioLabs: Located just minutes from the Princeton University campus, Princeton Innovation Center BioLabs provides a wide range of resources and facilities for startups including wet lab, dry labs and office space.
H. Sixers Innovation Lab: Located at the Philadelphia 76ers Training Complex in Camden, the incubator offers qualified early-stage companies free space, legal services, marketing and branding solutions and more.
I. South Jersey Technology Park (SJTP) at Rowan University: Located in Mantua Township, SJTP offers wet labs as well as an incubator and office space for science and technology businesses. A showpiece of SJTP is The CAVE Virtual Reality Environment.
J. Stevens Venture Center (SVC): Providing a dynamic, collaborative environment for Stevens-affiliated entrepreneurs, the SVC is located at Stevens Institute of Technology in Hoboken. The incubator provides resources, training and support to help startups scale.
K. TechLaunch BullPen: A quarterly series of pitch events, TechLaunch BullPen gives tech companies an opportunity to present to a panel of investors and entrepreneurs at various locations throughout New Jersey.
L. Thomas O. Daniel Research Incubator and Collaboration Center: A 16,000-square-foot incubator located on Celgene Corporation’s West Research campus in Summit. The incubator offers state-of-the-art lab space, resources and support to scientists and companies with potentially transformational technologies.
M. Tigerlabs: Located in Princeton, Tigerlabs offers small batch accelerator classes and invests in early-stage companies in digital health, fintech, edtech, advertising and media. Space, services and community support for entrepreneurs also is offered at Tigerlabs Coworking.
N. CoWork Street: A hybrid coworking space for freelancers and entrepreneurs offering business consulting services and networking opportunities in Camden.
O. =SPACE Sharespace & Incubator: Headquartered in Newark, =SPACE provides incubator and coworking space including coaching and programming for startups. The incubator has become a magnet for multicultural founders, women-led ventures, and LGBTQ+ enterprises.
P: HAX: A hard tech incubator located in Newark and operated by the Princeton-based venture capital firm SOSV. It provides complete support for emerging companies, including a $250,000 initial investment in each participating company, 180 days of hands-on collaboration, and a global founder community.
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.
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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.