One of the pillars of Governor Murphy’s vision of a stronger fairer economy is recreating New Jersey as a home for innovation. Fostering emerging businesses and helping them overcome barriers to commercial success is critical to achieving that vision.
NJ Ignite supports entrepreneurs by providing rent support grants. In addition, this program provides collaborative workspaces with a new tenant attraction tool.
Coworking spaces provide the perfect setting for startups to learn from one another and for entrepreneurs to collaborate with fellow innovators.
- Grants that support rent of early stage technology and life science companies in New Jersey collaborative workspaces
- NJEDA’s grants will cover rent payments for 2, 4 or 6 months
- A collaborative workspace must match NJEDA’s grant to the tenant company on a 1:2 basis (e.g. if NJEDA provided a grant for 2 months, the collaborative workspace would need to provide a grant for 1 month)
- The start-up tenant company must commit to continuing to work from the collaborative workspace (paying rent) for a period no less than NJEDA and the collaborative workspaces combined months of support
- NJEDA will provide an additional month of support if the workspace is located in an Opportunity Zone, affiliated with a hospital system or New Jersey university, or is recently established. Also, if the company is a registered MWBE, or a foreign company’s first location in the US. (These months can be added together for a total of five additional months and do not count toward the workspace match requirement.)
There are no fees associated with the NJ Ignite program.