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  Dollar Amount

  Accelerators-

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

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  Graduates-

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

  NJEDA grant rent support up to 6 months

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  Uses

  Accelerators-

  Cost-sharing sponsorship to host events in the State

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  Graduates-

  Support business operations, product development, and sales.

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  Benefits

  Increase NJ deal flow for Approved Accelerators

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

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  Stimulates business growth.

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  Eligibility

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

 
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:

Click here to learn more about the NJ Accelerate Program 
 

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

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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Approved Accelerators

Click here for the Morgan Stanley Multicultural Innovation lab


 

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Board Memorandums

For more information about the NJ Accelerate Program, please click here to review the board memorandums that established the program.

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