NJEDA Welcomes Computer Software Manufacturer Sembient to the NJ Ignite Program
Computer software manufacturer Sembient recently joined the growing list of startups approved to receive rent through NJ Ignite.
TRENTON, N.J. (January 7, 2020) – Computer software manufacturer Sembient recently joined the growing list of startups approved to receive rent support through the New Jersey Economic Development Authority’s (NJEDA’s) NJ Ignite program. The startup moved to Building 78 at Kearny Point late last year.
NJ Ignite helps technology and life sciences startups realize the benefits of collaborative workspaces by providing up to nine months of rent support for startup technology and life sciences businesses that are moving to an approved collaborative workspace.
Sembient develops computer software that provides spatial analytics and real-time occupancy data to help businesses understand how their spaces are being used. This information feeds companies’ decisions on how to best design and operate indoor environments that are productive and comfortable for employees and visitors.
“Our Software-as-a-Service product enables our clients to create intelligent workspaces that improve the employee experience and reduce real estate and energy costs,” said Sembient Chief Executive Officer and Co-founder Aleksandar Jovicic. “We look forward to expanding our company with the support of the collaborative work environment at Kearny Point and the NJ Ignite program."
NJ Ignite is made possible through a combination of support from the NJEDA and the collaborative workspace, with the NJEDA covering up to six months’ rent and the collaborative workspace covering rent for half the length of NJEDA’s commitment. As a supplement to a financial commitment, participating incubators, accelerators, and coworking spaces are required to offer tenants a minimum of eight innovation-ecosystem-building events per year, such as Meetups, guest speakers, and office hours with professionals such as lawyers, accountants, and consultants. Sembient will have the opportunity to partake in these benefits.
“NJ Ignite offers startups and entrepreneurs the necessary real estate to expand their businesses,” NJEDA Chief Executive Officer Tim Sullivan. “Coworking spaces provide the perfect setting for startups to learn from one another and for entrepreneurs to collaborate with fellow innovators. This dynamic is an essential element toward realizing Governor Phil Murphy’s vision for making New Jersey the State of Innovation.”
Considered one of the most significant adaptive reuse initiatives in the region, Kearny Point is an up-and-coming modern workplace that is home to a diverse community of pioneering businesses. Building 78, the first building to be redeveloped under its multiphase plan, features creative flex office spaces and a co-working facility known as Kearny Works. Later this month Kearny Point will open The Annex, which features two floors of state-of-the-art creative office space, modern amenities and break-out areas in a historic, naturally lit crane-way.
About the New Jersey Economic Development Authority
The New Jersey Economic Development Authority (NJEDA) serves as the State’s principal agency for driving economic growth. The NJEDA is committed to making New Jersey a national model for inclusive and sustainable economic development by focusing on key strategies to help build strong and dynamic communities, create good jobs for New Jersey residents, and provide pathways to a stronger and fairer economy. Through partnerships with a diverse range of stakeholders, the NJEDA creates and implements initiatives to enhance the economic vitality and quality of life in the State and strengthen New Jersey’s long-term economic competitiveness.