NJEDA Brings NJ’s Innovation Ecosystem Together for Founders and Funders’ All Stars Event

Investor meetings, entrepreneur ecosystem resource fair, and pitch competition showcase New Jersey’s leadership in innovation

TRENTON, N.J. (April 16, 2025) – Last month, the New Jersey Economic Development Authority (NJEDA) held a New Jersey Founders and Funders’ All-Stars Alumni Pitch Competition and Resource Fair, bringing startups, investors, and other innovation economy stakeholders together for a day of pitches, an ecosystem resource fair, and many informal networking opportunities. The semi- annual Founders and Funders event connects early-stage businesses with investors to discuss strategy, business models, and funding opportunities, strengthening the state’s vibrant innovation ecosystem. The second alumni pitch competition featured qualified companies that previously presented at Founders & Funders events, competing for the opportunity to apply for a $100,000 grant award.

“Under Governor Murphy’s leadership, New Jersey has cemented its role as a national leader in the innovation economy, providing entrepreneurs and startups with the capital and support they need to grow and thrive in the Garden State,” said NJEDA Chief Executive Officer Tim Sullivan. “The NJEDA’s Founders and Funders initiative continues to spark vital connections between investors and entrepreneurs, and this year’s All-Stars event showcased the incredible depth of talent driving our state’s thriving startup ecosystem. Through ecosystem development initiatives like Founders and Funders, we are building on New Jersey’s rich legacy of innovation to power the technologies and companies of tomorrow.”

Since 2014, the NJEDA has organized 16 Founders and Funders events to facilitate warm introductions between innovative emerging New Jersey companies and sophisticated angel investors and venture capital firms. Since its inception, more than 400 companies and 250 investors have participated in Founders and Funders events. At last week’s event, 10 “All-Star companies” had the opportunity to pitch and meet with 11 venture capital firms. Over 20 investors were present throughout the day, and more than 50 entrepreneurs engaged in meaningful discussions with resource fair ecosystem participants.

“Since our inaugural event in 2014, the NJEDA’s Founders and Funders initiative has matched hundreds of startup companies with investors, bolstering economic opportunity and access to capital for entrepreneurs and promoting growth in the state’s innovation ecosystem,” said NJEDA Chief Economic Transformation Officer Kathleen Coviello. “This year’s all-stars event exemplifies the breadth of talent in New Jersey’s startup community and the transformative impact of investment in innovation.”

This year’s All-Stars event included an ecosystem resource fair as well as a presentation on the NJEDA’s Strategic Innovation Center initiative, showcasing the range of programs available to bolster the creation of startups in the state.

The prize winner of the alumni pitch competition, which was selected by audience vote, was Cranford-based Boxcar, an innovative, integrated commuting company focused on simplifying long and stressful commutes through luxury busing and other services. Founded in 2016, Boxcar previously received funding from the NJEDA through the Angel Match Program and obtained further investment from Newark Venture Partners with NJEDA support.

“This was another terrific NJEDA event,” said Boxcar Founder and Chief Executive Officer Joe Colangelo. “Boxcar was able to meet new investors as well as reconnect with investors that we initially pitched at a 2018 Founders and Funders event – 7 years ago! Similarly, we were able to catch up in person with all the dedicated people at the NJEDA who have helped us over the last 8 years. They have become real partners when it comes to building and scaling in New Jersey, and I would encourage every entrepreneur in this state to reach out to the NJEDA regardless of their size. The NJEDA has programs for every stage company and their employees are so dedicated to finding a way to help.”

About the NJEDA

The New Jersey Economic Development Authority (NJEDA) serves as the State’s principal agency for driving economic growth. The NJEDA is committed to making New Jersey a national model for inclusive and sustainable economic development by focusing on key strategies to help build strong and dynamic communities, create good jobs for New Jersey residents, and provide pathways to a stronger and fairer economy. Through partnerships with a diverse range of stakeholders, the NJEDA creates and implements initiatives to enhance the economic vitality and quality of life in the State and strengthen New Jersey’s long-term economic competitiveness.

To learn more about NJEDA resources for businesses, call NJEDA Customer Care at 844-965-1125 or visit https://www.njeda.gov and follow @NewJerseyEDA on Facebook, Twitter, Instagram, and LinkedIn.

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