Startups Receive Rent Support Grants from NJEDA

Life science and technology startups are able to receive rent support grants from the New Jersey Economic Development Authority (NJEDA) NJ Ignite Program. The NJ Ignite Program is a statewide initiative to boost innovation and startup growth.

Local spaces are available for the program at Rowan University’s Technology Business Incubator at the South Jersey Technology Park (SJTP), which also supports technology and life science entrepreneurs.

Through financial support from both the state and the incubator, NJ Ignite can cover up to nine months of rent and provide local entrepreneurs the opportunity to work alongside peers and advance their businesses.

“Increasing collaboration among entrepreneurs is crucial to helping the state’s youngest companies flourish,” said Brian Sabina, NJEDA Senior Vice President, Office of Economic Transformation. “Gov. Phil Murphy is committed to making New Jersey the ‘State of Innovation,’ and programs like NJ Ignite are key to fulfilling that vision.”

South Jersey Technology Park shares access to events, their network of business resources, and job leads from fellow incubator companies.

The NJEDA announced plans to boost the New Jersey economy late last year through initiatives that promote job creation, diversifying the workforce, increasing the annual median wage, and investing in urban communities.