NJEDA to Host Information Session for Next Phase of the New Jersey Innovation Evergreen Fund
Opportunity for stakeholders to learn about this first-in-the-nation investment program
TRENTON, N.J. (January 20, 2023) – The New Jersey Economic Development Authority (NJEDA) will hold a virtual information session to provide venture capitalists, private equity investors, and New Jersey startups with information on how they can access capital from the New Jersey Innovation Evergreen Fund (NJIEF). Established by Governor Phil Murphy’s New Jersey Economic Recovery Act of 2020, the NJIEF is a ground-breaking tool designed to grow the state’s innovation economy by catalyzing up to $600 million to support early-stage innovation-focused businesses in New Jersey, while creating mentoring, networking, and educational opportunities to help position these companies for success.
Last month, the NJEDA announced the results of a $50 million tax credit auction, in which established corporations committed funding, technical assistance, and mentorship to help startup businesses in the state. Funds raised through the tax credit auction are expected to help support six to ten high-growth businesses this year.
The information session will be held on January 26th at 9:30 a.m. Register at https://www.njeda.gov/event/njeda-innovation-evergreen-fund-investment-program/. A recorded version of the information session will be posted at http://www.njeda.gov/evergreen following the event.
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.
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