Applicants must meet the following eligibility:
- Be authorized and in good standing to conduct business in New Jersey as evidenced by a current New Jersey tax clearance certificate listing New Jersey Commission on Science, Innovation and Technology. All certificates listing another state agency will be rejected.
- Have no more than 25 full-time equivalent (“FTE,” calculated on a 35-hour work week) workers at time of application.
- Have a minimum of one (1) full-time worker (calculated on a 35-hour work week). A founder can be counted as a worker; a worker may be paid or unpaid.
- 50% or more of the cumulative hours worked by all workers, founders, and contractors in New Jersey calculated on an full-time equivalent basis of 35 hours per week.
- Have less than or equal to $2,000,000 in calendar year 2022 sales revenue (excluding grant revenue)
Eligible Uses of Grants Include:
The grant funding can be utilized for project research and development activities.
In addition, no more than 30% of the budget proposed for the Project, in the aggregate, may be spent on:
- Marketing and customer discovery specific to the innovation
- IP patent prosecution and licensing-related expenses
- Conference registration fees
Prohibited Uses of Grants Include:
- Direct services to individuals or organizations;
- Manufacturing of products for sale or commercial use;
- Real estate rental expenses;
- Patient clinical trial expenses;
- Construction costs;
- Travel, entertainment, and other similar expenses;
- Allocations of general overhead expenses;
- Any expenditures incurred before the “Effective date”, the date representing the last date of execution of the Grant Agreement by the respective Parties;
- Any expenses for equipment and materials that Applicant does not use for the Project during the Project period; or
- Fees related to Conferences not associated with the Project.