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NJ Accelerate 

NJ Accelerate encourages the participation of New Jersey entrepreneurs in high-quality accelerator programs, which increase the chances of growing young, innovative companies in the State. 


  • Dollar Amount

    Accelerators-

    1:1 matching sponsorship up to $25,000 per event capped at $100,000


    Graduates-

    1:1 matching loan funding up to $250,000

    NJEDA grant rent support up to 6 months

  • Uses

    Accelerators-

    Cost-sharing sponsorship to host events in the State


    Graduates-

    Support business operations, product development, and sales.

  • Benefits

    Increase NJ deal flow for Approved Accelerators


    Expand access to best-in-class accelerators for NJ businesses


    Stimulates business growth.

  • Eligibility

    Open to best-in-class accelerators and Approved Accelerator graduate businesses.

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NJ Accelerate recognizes the strengths of accelerators in nurturing the next generation of entrepreneurs. Through NJ Accelerate, the NJEDA seeks to provide entrepreneurs access to best-in-class programs and return home with the tools and support to grow their businesses in the Garden State.
 
An accelerator is a fixed-term, cohort-based “boot camp” offering educational programs for start-up founders, exposing them to a wide variety of mentors, including former entrepreneurs, venture capitalists (VCs), angel investors, and corporate executives.

Through the NJ Accelerate Program, NJEDA will:

  • Promote Approved Accelerator program opportunities to the NJ innovation ecosystem.
  • Match sponsorship support for Approved Accelerator programs and events held in NJ.
  • Provide direct loans and rent support to eligible Approved Accelerator graduates.
  • Support Governor Murphy’s goal of making NJ the most diverse innovation ecosystem in the country

NJ Accelerate is a two-step process to encourage the engagement of accelerator programs in New Jersey, while facilitating the participation of businesses in these accelerator programs:

1.  Accelerator operators apply to the NJEDA to be pre-qualified as an “Approved Accelerator”.
2.  Approved Accelerator graduates are eligible for financial assistance from the NJEDA in NJ.

Click here to learn more about the NJ Accelerate Program 
 

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As a benefit for Approved Accelerators participating in NJ Accelerate, the NJEDA will:
  • Disseminate information about and facilitate introductions for Approved Accelerator Programs.​
  • Offer cost-sharing sponsorship to each Approved Accelerator to host Programmatic Events in the State (e.g. Accelerator’s Demo Day; cohort road show; an in-person class, etc.) 


Cost-sharing sponsorship will be available at an amount of up to $25,000 per event, per Approved Accelerator in the form of a 1:1 matching sponsorship. NJEDA will cap its total cost-sharing sponsorship at $100,000 for each Approved Accelerator during this pilot program, with consideration for a sponsorship bonus of 5% for Approved Accelerators that demonstrate meaningful written policies and practices for attracting and promoting companies owned by women and minority persons, as defined by the NJ Department of the Treasury for purposes of the MBE/ WBE certification.
 

Click here to download and complete the eligibility form

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As your company looks to soon graduate from an Accelerator, you are likely thinking about next steps: Where should I locate? What kind of support does my business qualify for? Is there support for my business? What investment can I attract?

NJ Accelerate is available to make your your decision a bit easier…the program has two components: Rent Support and Direct Loan Support. You may apply for either or both components, depending on your needs. 
 
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Questions?

If you have any questions or would like to become an Approved Accelerator, please send your completed Accelerator Eligibility Checklist to njaccelerate@njeda.com