New Jersey Founders & Funders Participants Provide Technologies that Make Summer Planning a Breeze
Companies like Eventcombo (pictured above at its location in co-working space Indiegrove) hope to positively impact New Jersey's tourism and recreation sector this upcoming summer.
TRENTON (May 23, 2017) – As we shift from spring to summer and thoughts turn to the upcoming Memorial Day weekend, technology companies throughout the Garden State are gearing up for the season ahead. @NJEDATech today looks at businesses that could impact tourism and recreation plans this summer.
“New Jersey’s central location along the eastern seaboard and idyllic beaches make it the perfect place to spend time this summer,” New Jersey Economic Development Authority (EDA) Chief Executive Officer Melissa Orsen said. “Whether you want to take in a show or concert at one of the Garden State’s many venues, discover a new passion, or visit the iconic Jersey Shore, several emerging New Jersey technology companies can help along the way.”
Entertainment options such as concerts, boat rides, and dance parties kick abound in the warmer weather. Eventcombo (@eventcombo), based at co-working space Indiegrove in Jersey City, offers an online ticketing platform for events in major cities all across the United States. The platform brings added value to event organizers, enabling them to “bundle” other amenities event-goers might need along with the tickets, including dinner reservations, merchandise and parking. Just in time for this year’s summer season EventCombo recently launched Uber as part of its “bundle,” so event attendees can have an even more convenient experience going to and leaving events, while event organizers can monetize more from their events, beyond just ticket sales. Read more: New Jersey Founders & Funders Event Drives Investment in Bergen County-based Eventcombo
Another activity that picks up steam in the summer is cycling – be it on a bicycle or a motorcycle. Fusar Technologies (@FUSARtech), located in Kearny, develops technology that transforms regular helmets into smart helmets for cyclists, motorcyclists, skaters, skiers and snowboarders. Among the wide variety of features available to adventure seekers, the FUSAR Camera can detect when a user has been in an accident, retroactively record the last two minutes of action before the accident, alert the person’s emergency contact and show that contact the user’s exact location through an interactive map. Users can also take high-resolution photos and high-definition video with a push of a button during their adventures and post them to social media in real-time via the FUSAR app, available for free on both iOS and Android. Read more: Combining Passion and Public and Private Resources, Fusar Technologies Arrives on National Scene
The multitude of New Jerseyans and out-of-state tourists planning to visit Atlantic City this summer can learn about upcoming events via the one-hundred digital displays along the city’s boardwalk. Information technology company Impactivate in Atlantic County maintains and operates the displays, which inform visitors of events and provide advertisers access to millions of Boardwalk visitors each year via full motion video and sound.
For those interested in growing their own produce this summer, Egg Harbor City-based Alfrea, Inc. has developed a platform that creates a virtual community among farmers and food gardeners. Alfrea’s website helps connects people throughout southern New Jersey, the Greater Philadelphia area, and Frederick, Maryland who want to grow food or participate in the local food movement with resources they need to succeed. The Alfrea community includes apartment-dwellers in need of access to a yard for a vegetable garden, small farmers selling their produce, restaurants seeking last-minute fresh ingredients, or homeowners with gardens trading the fruits of their labor for extra cash, and corporations that care about their employees’ health and sustainability.
Each of these four companies has participated in previous New Jersey Founders & Funders events. Hosted by the EDA, New Jersey Founders & Funders enables early-stage New Jersey businesses to meet with investors in 10-minute, “speed dating” sessions to discuss strategy, business models and funding opportunities. Eventcombo became the first company to obtain funding as a direct result of networking that occurred at New Jersey Founders & Funders, when it received an investment from NJIT Highlanders Angel Network last year.
In addition to New Jersey Founders & Funders, Fusar Technologies was also one of 40 businesses that the EDA approved to share $35 million through the State’s Technology Business Tax Certificate Transfer (NOL) Program in 2016. Administered by the EDA and the New Jersey Department of Treasury's Division of Taxation, this competitive program enables eligible technology and biotechnology companies to sell New Jersey tax losses and/or research and development tax credits to raise non-dilutive cash to finance their growth and operations. Applications for the 2017 NOL Program are available online at https://www.njeda.gov/nol. The deadline to apply is June 30.
The EDA offers a multitude of resources to help technology and biotechnology companies grow and thrive in New Jersey. To learn about these resources, visit https://www.njeda.gov/tls and follow @NJEDATech on Twitter and LinkedIn.