NJEDA NJ Accelerate Program

NJEDA NJ Accelerate Program is sponsored by New Jersey Economic Development Authority (NJEDA). Supports startup accelerators and their graduates with investment loans and rent grants to foster business growth.

The NJEDA will be accepting applications until September 19, 2026 at 5 pm EST, or until funds have been exhausted, whichever comes first. NJ Accelerate encourages the participation of New Jersey Entrepreneurs in high-quality accelerator programs, which increase the growing young, innovative companies in the state.

1:1 matching sponsorship up to $2,000 per event capped at $20,000 Up to $250,000 in the form of Convertible Notes with Warrants NJEDA grant rent support up to 6 months Increase NJ deal flow for Approved Accelerators Expand access to best-in-class accelerators for NJ businesses Promote economic innovation. 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.

Sponsorship grant funding support for Approved Accelerator programs and events held in NJ. Provide investment benefit and rent support to eligible Approved Accelerator graduates. 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.

Benefits for Approved Accelerator As a benefit for Approved Accelerators participating in NJ Accelerate, the NJEDA will: Disseminate information about and facilitate introductions for Approved Accelerator Programs.

​ Offer sponsorship grants 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.) An Approved Accelerator Program is eligible to receive up to $2,000 in the form of a grant to host programmatic events in New Jersey. Each Approved Accelerator will be capped at $20,000 in total sponsorship during the pilot program.

A bonus of additional 5% is available to Approved Accelerators that have a focus on DE&I as defined by the program. Benefits for Accelerator Graduates The Investment Benefit provides seed funding in the form of convertible notes, with a warrant on 50% of the principal amount, provided directly to the Approved Accelerator Graduate Companies, matching $1 to $1 the investment provided by the Approved Accelerator, capped at $250,000.

A 5% bonus amount is available to Graduate Companies certified by the State of New Jersey as women or minority owned. Throughout the life of the note – which has a 10-year maturity – the Company is required to maintain its base of operations in New Jersey, anchoring it to the State innovation ecosystem. Rent funding in the form of a grant to benefit qualifying Approved Accelerator Graduate Companies.

The grant covers up to 6 months of rent not to exceed $25,000, matching the rent or membership fees $1 to $1 at NJ Accelerate approved collaborative workspaces or labs. A bonus month amount is available to Graduate Companies certified by the State of New Jersey as women or minority owned.

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.

Apply to become an Approved Accelerator Program Instructions for applying: To be considered for participation in NJ Accelerate, an Accelerator Program must submit an online application with the diligence materials listed below to the NJEDA via email to NJAccelerate@njeda. gov . Please reach out to NJAccelerate@njeda.

gov if you wish to receive the link to the online application Business Incorporation Certificate Detailed Screening Process for Applicants Structured Curriculum Overview Written Testimonials/References Mentor/Expert list with titles and bios Examples of online networking/engagement platforms used by Accelerator List of events produced/hosted by Accelerator over the past 12 months Accelerator Investment Track Record Accelerator Investment Funding details (amount, structure, etc.) Accelerator Investment or sample financial document Examples of graduate outcomes List of prior NJ graduates List of corporate senior management participating (if applicable) D&I focused Policies (if applicable) Approved Accelerators are subject to an annual audit.

Click this link to view the Annual Audit form Apply for the Investment, Rent Benefit, or the Event Sponsorship Benefit Event Sponsorship Benefit An Approved Accelerator Program is eligible to receive up to $2,000 in the form of a grant to host programmatic events in New Jersey. Each Approved Accelerator will be capped at $20,000 in total sponsorship during the pilot program.

A bonus of additional 5% is available to Approved Accelerators that have a focus on DE&I as defined by the program.

– Have a minimum of 25 in person attendees – Offer the opportunity for public presentation/comment by NJEDA staff, including but not limited to: Keynote, welcome, panel participant Inclusion in Marketing materials Logo on all event materials Exhibit table (when applicable) Complimentary Registrations for event Attendee list with contact information Applications must include the following: Event Agenda and Description, including number of expected attendees Confirmation that NJEDA will be provided the opportunity to participate in the event Current NJ Tax Clearance Certificate Approved Accelerators must be compliant with the NJ Accelerate Annual Audit.

The Sponsorship Benefit application is submitted via email at the NJAccelerate@njeda. gov using the form linked below. Instructions for applying: Please follow the steps below to submit an application for the sponsorship grant funding.

Complete and sign the Event Sponsorship Request Form then submit with the required attachments to the NJEDA for approval review via email to NJAccelerate@njeda. gov. Once the Request Form has been reviewed and approved (Programmatic Event and associated costs), The NJEDA will enter into a grant agreement with the applicant detailing the awarded grant amount and other applicable terms.

The NJEDA will review the request and disburse the event sponsorship funds to the accelerator via check/wire transfer if all requirements have been met. Click here to download the fillable pdf of the NJ Accelerate Event Sponsorship Request Form Rent funding in the form of a grant to benefit qualifying Approved Accelerator Graduate Companies.

The grant covers up to 6 months of rent not to exceed $25,000, matching the rent or membership fees $1 to $1 at NJ Accelerate approved collaborative workspaces or labs. A bonus month amount is available to Graduate Companies certified by the State of New Jersey as women or minority owned.

Instructions for applying: Please contact the Technology Innovation Products Team if you are interested in applying in the NJ Accelerate Rent Benefit, at njaccelerate@njeda. gov . To be considered for the rent benefit, the online application must be submitted to the NJEDA within 6 months of graduation of an Approved Accelerator program or the latter date of departure out of the physical space offered by the Approved Accelerator program.

The online application should be completed by the graduate company. Due diligence items are required to be uploaded in the application. Rent grant application – NJ Graduate Company Required Due Diligence Attachments Exhibit 1 – New Jersey Tax Clearance Division of Taxation Tax Clearance Certificate required.

Certificates may be requested through the State of New Jersey’s Premier Business Services (PBS) portal online. Under the Tax & Revenue Center, select Tax Services, then select Business Incentive Tax Clearance. If the applicant’s account is in compliance with its tax obligations and no liabilities exist, the Business Incentive Tax Clearance can be printed directly through PBS.

Exhibit 2 – Certificate of Completion from Approved Accelerator Exhibit 3 – Current Workforce List Exhibit 4 – Current NJ WR30/ Registered PEO Letter/1099 form/ W2 form/ K1 form/ Job Descriptions/ Offer Letters/ Other Employment Documentation Exhibit 5 – Current Executive Summary / Business Plan / Latest Investor Presentation Exhibit 6 – M/WBE Certification (if applicable) Early-stage businesses interested in becoming a certified M/WBE must complete an application with the New Jersey Department of the Treasury – Division of Revenue.

M/WBE certifications are valid for 3 years. For more information on M/WBE certification, please call the Division’s Business Registration and Certification Office at (609) 292-2146 or visit: https://www. njportal.

com/DOR/SBERegistry/ Exhibit 7 – Certificate/Articles of Incorporation or similar company formation documentation Exhibit 8 – Executed Lease/Membership Agreement Additional due diligence documentation may be requested. Please contact the Technology Innovation Products Team to obtain the link to the online Application, at njaccelerate@njeda.

gov The Investment Benefit provides seed funding in the form of convertible notes, with a warrant on 50% of the principal amount, provided directly to the Approved Accelerator Graduate Companies, matching $1 to $1 the investment provided by the Approved Accelerator, capped at $250,000. A 5% bonus amount is available to Graduate Companies certified by the State of New Jersey as women or minority owned.

Throughout the life of the note – which has a 10-year maturity at a 3% interest rate – the Company is required to maintain its base of operations in New Jersey, anchoring it to the State innovation ecosystem. Instructions for applying: To be considered for the investment benefit, a graduate company must have received a qualified investment from the approved Accelerator Program.

If the company has received an investment, an online application must be submitted to the NJEDA within 6 months of graduation of an approved Accelerator Program. The online application should be completed by the graduate company. Due diligence items are required to be uploaded in the application.

Please contact the Technology Innovation Products Team if you are interested in applying in the NJ Accelerate Investment Benefit at njaccelerate@njeda. gov Investment application – NJ Graduate Company Required Due Diligence Attachments Exhibit 1 – NJ Tax Clearance Certificate Please note: It is the applicant/client’s responsibility to maintain a current and clear tax clearance certificate.

If a current and clear certificate is not evidenced to EDA at time of closing, EDA will not proceed with closing. Instructions for obtaining this are below: Division of Taxation Tax Clearance Certificate required. Certificates may be requested through the State of New Jersey’s Premier Business Services (PBS) portal online.

Under the Tax & Revenue Center, select Tax Services, then select Business Incentive Tax Clearance. If the applicant’s account is in compliance with its tax obligations and no liabilities exist, the Business Incentive Tax Clearance can be printed directly through PBS.

Exhibit 2 – Certificate of Completion from Approved Accelerator Exhibit 3 – Documentation / Agreement for Investment Please provide all agreements pertaining the investment round/transaction the EDA will match through the NJ Accelerate program. Examples include: stock purchase agreement, a simple agreement for future equity, a promissory note, and/or similar documents.

Exhibit 4 – Bank Statements confirming receipt of Investment to be matched Exhibit 5 – Exhibit 5- Fully Diluted Current Capitalization Table Exhibit 6 – Current Workforce List Exhibit 7 – Current NJ WR30/ Registered PEO Letter/ 1099 form/ W2 Form/ K1 Form/ Job Descriptions/ Offer Letters/ Other Employment Documentation Exhibit 8 – Current Executive Summary / Business Plan / Latest Investor Presentation Exhibit 9 – M/WBE Certification (if applicable) Early-stage businesses interested in becoming a certified M/WBE must complete an application with the New Jersey Department of the Treasury – Division of Revenue.

M/WBE certifications are valid for 3 years. For more information on M/WBE certification, please call the Division’s Business Registration and Certification Office at (609) 292-2146 or visit: https://www. njportal.

com/DOR/SBERegistry/ Exhibit 10 – Management prepared financial statements (Income Statement, Balance Sheet and Cash Flow Statement, quarterly basis, prior 2 year actual, next 3 years projected) Exhibit 11 – Certificate/Articles of Incorporation or similar company formation documentation Additional due diligence documentation may be requested.

There is a $500 fee to submit this application Please contact the Technology Innovation Products Team to obtain the link and password to the online Application, at njaccelerate@njeda. gov Eligibility for Accelerators The NJEDA will welcome all accelerators that meet the program criteria and evaluate them during the pilot on a first-come, first-served basis.

The accelerator entity must meet the minimum following criteria: Accelerators must have graduated a minimum of two cohorts prior to application. A well-codified thorough and rigorous screening process for all applicants. A structured curriculum that is focused on supporting the growth of startups and at a minimum includes business strategy around product sales & marketing.

High prior participant satisfaction, as verifiable through reference calls and testimonials.

Access to at least 50 actively engaged subject matter experts/mentors across industries or functional capabilities to provide specific programmatic training for each company (e.g., Technology, Sales,Strategy, Financing, Accounting, Marketing, Fundraising, etc.) Program engagement of the broader startup Ecosystem of mentors, advisors or investors from outside the Accelerator and hosting a demo day viewable to outside participants.

A minimum of 20 mentoring hours to the selected participants.

A proven and documented or certified track record of success in prior graduates, demonstrated by at least 35% (to be reviewed and adjusted annually by NJEDA staff according to the prevailing market median data available) of graduates to receive follow-on funding from non-related parties (non-related defined as anyone not in participating company managements), seeing strategic acquisition, significant (50%+) revenue growth in the last year or achieve an exit.

The existence of a platform to facilitate community engagement and networking for current and past program participants (i.e., an active alumni network) If a corporate accelerator, the active participation of staff at all levels of the organization, including Senior management and at the Corporation.

The accelerator must include an in-person aspect and not be entirely virtual, which allows for engagement and personal mentoring of the selected companies; the physical space must be equipped to host events.

The accelerator will provide financial investment in some form to at least one participant company per program, including direct investment or customer sales relationship (in-kind arrangements are insufficient) The Accelerator Program is open to applicants from NJ. The Accelerator Program supports innovation and has a consideration for, or focus on, at least one of the “ Targeted Industries” .

A preference and bonus will be granted for all accelerator programs that have a focus on supporting underserved groups including: female entrepreneurs and founders of color. This preference translates into a monetary sponsorship bonus for Approved Accelerators with a diversity focus and their NJ-graduate companies that are certified by the state of NJ as a women or minority-owned business.

The Accelerator Program supports innovation and has a consideration for, or focus on, at least one of the “ Targeted Industries ” as identified by the NJEDA which currently includes: Advanced Transportation and Logistics Autonomous Vehicles and Zero-emissions Information and High Technology Eligibility Requirements for Businesses Participating in Approved Accelerators: Companies must meet the following criteria within six months of graduation (or the latter date of departure out of the physical space offered, with respect only to the rent award of NJ Accelerate) from the Approved Accelerator to qualify for support.

New Jersey Tax Clearance Certificate At least 50% of the company workforce works or pay taxes in NJ A minimum of 2 founders/ C-suites devoting 100% of their professional time to the Company in NJ and 80% of their time in New Jersey The Company is in one of the “ Targeted Industries ” as identified by the NJEDA For the Investment Loan Benefit only, the Company must have received an investment from the Approved Accelerator Targeted industries are any industry identified from time to time by the NJEDA that shall initially include: – Advanced Transportation and Logistics – Autonomous Vehicle and Zero-emissions – Information and High Technology If you’d like to review the definitions of each targeted industry further, please see the “Targeted Industry Definitions” document available for download on the right-hand side of this page.

Modification fee: $250 minor/ $1000 major Event Sponsorship Benefit Please note, all fees associated with this application are non-refundable. Apply to become an Approved Co-working Space To apply to become an approved Collaborative Workspaces interested in becoming approved under NJ Accelerate are required to submit an online application. To obtain the link to the online application please reach out to njaccelerate@njeda.

gov . Please, use this checklist to see if you qualify as a collaborative workspace.

Collaborative Workspace Application – Required Documents: Tenant/Member List (5 at least) or 3 letters of intent from prospective applicants Provide evidence of rent or mortgage or corporate charge back payment for 1 month, or utility bill in the name of the business facility Certificate of Insurance naming the NJEDA as additional insured on the workspaces general liability insurance policy Approved Collaborative Workspaces need to complete an annual review within 60 days of each calendar year beginning the year following the year of approval.

The following documents must be provided for the annual review to njaccelerate@njeda. gov Russia or Belarus Certification of non-involvement in prohibited activities Approved NJ Collaborative Facilities NJ Bioscience Center – Incubator at North Brunswick Rutgers Food Innovation Center Rutgers Eco Complex Incubator Approved Facilities marked with an asterisk (*) have multiple locations.

One asterisk means one additional location NJ Accelerate Approved Accelerators NJ Accelerate Approved Companies At a Glance – Investment Benefit At a Glance – Rent Benefit Workspace Sample Application Collaborative Workspace Checklist NJ Accelerate Accelerator Sample Application NJ Accelerate Accelerator Brochure NJ Accelerate Investment Benefit Qualification Checklist NJ Accelerate Investment Benefit Sample Application NJ Accelerate Investment Brochure NJ Accelerate Rent Benefit Qualification Checklist NJ Accelerate Rent Benefit Sample Application NJ Accelerate Rent Benefit Brochure Targeted Industries FREQUENTLY ASKED QUESTIONS NOtice of funding availability INNOVATION OFFICE HOURS If you have any questions please reach out to njaccelerate@njeda.

gov