Route 80 Business Assistance Grant Program
Application is now closed.
Eligible Zip Codes within 5-mile radius: 07438,07801,07803,07834,07842,07847,07849,07850,07852, 07856,07866, 07869, 07876,07885,07950, 07874, 07843.
The Route 80 Business Assistance Grant Program will provide short-term financial support for small and medium (up to 50 employees) New Jersey businesses affected by the Route 80 closures Applicants must certify a negative financial impact of at least $1,000 for the first quarter of 2025.
AMOUNT
$1,000 to $15,000 maximum
BENEFITS
Funds to offset business losses related to Route 80, exit 34 closure
ELIGIBILITY
Up to 50 full-time equivalent employees
Sustained a negative financial impact of $1,000 or more as a result of the Route 80 Sinkholes
A physical commercial location in New Jersey (e.g., an office, a physical point of sales, a warehouse, manufacturing facility, etc.)
Registered to do business in the State of New Jersey at the time of application, as evidenced by a valid Business Registration Certificate, if required
PROGRAM DETAILS
The AI Innovation Challenge Administration Grant Program is a competitive program that will provide $3,800,000 in grant funding to an eligible Administrator who will develop and manage a statewide AI Innovation Challenge (“AI Challenge”). The Administrator will also disburse and manage sub-grant awards to AI Challenge winners who create AI based software solutions, and develop them towards pilot demonstration or commercialization.
Applications for the Grant Program will be accepted during a defined application window. After the window has closed, NJEDA staff will review all Grant Program applications for completeness and compliance with required documentation and minimum requirements. All complete and compliant applications will be evaluated, scored, and ranked by an Evaluation Committee comprised of NJEDA staff. The top-scoring proposal will be recommended for Board approval, to be awarded the grant funding amount of $3.8 million in accordance with the established milestones.
To be eligible for the Grant Program, Administrator applicants must:
- Demonstrate experience in managing a budget of at least $3 million in at least (1) one prior competitive event.
- Demonstrate evidence of a track record in organizing competitive events open to external audiences, with at least 5 competitive events hosted by the entity during the 5 years prior to application.
- Bonus points will be given to entities who demonstrate an ability to host a demo day, showcase or similar event to publicly present winning participants at the end of prior competitive events.
- Competitive events include but are not limited to pitch competitions, innovation challenges, hackathons and bootcamps,
- Demonstrate success of competitive events through at least 50 participants per event (minimum 5 events total)
- Demonstrate proven and documented track record of success in prior competitive event participants, including but not limited to at least 15% of prior participants to receive follow-on funding from non-related parties , seeing strategic acquisition, significant (50%+) revenue growth post- competitive event, or achieve an exit.
- “Non-related parties” are entities that are not the Administrator Applicant nor an affiliate, subsidiary, parent, or related entity to the Administrator Applicant.
- Demonstrate engagement with the broader startup ecosystem through access to at least 50 actively engaged Subject Matter Experts (SMEs), mentors or partners across industries and functional capabilities (technology, sales, strategy, accounting, finance, marketing etc.).
- Submit an in-depth proposal for the AI Challenge’s execution.
- Be a legal entity (no individuals) and have been legally formed under the laws of any US state.
- Be registered to do business in New Jersey and be in good standing with NJ Division of Taxation as certified by a valid NJ Tax Clearance Certificate.
- Be in substantial good standing with NJ DOL and DEP.
In addition to the eligibility criteria, Administrator Applicants must submit an in depth execution proposal for the AI Innovation Challenge which will be evaluated further via the Administrator Application Scoring Matrix. Proposals must include the following components:
- Evidence of Administrator’s technical and non-technical expertise in AI. Note: experience in the utilization of generative AI tools is not sufficient.
- Details about the programming, format (virtual/in-person/hybrid) of the AI Challenge events (Initial Competitive Event, Virtual Showcase, Demo Day Event). Note: any in-person components of the AI Challenge must be hosted in New Jersey.
- Engagement plan of Administrator’s network of partners and SMEs to offer mentorship and advisory support to AI Challenge winners
- Arrangement of in-kind services to AI Challenge participants, including but not limited to: cloud infrastructure, APIs (Application Programming Interfaces), and relevant software tools to test software solutions
- Strategy for outreach and marketing to attract qualified participants for the AI Challenge
- Legal and Intellectual Property (IP) support to ensure AI Challenge participants understand their rights and obligations when developing and sharing their software projects
- Scoring matrix for evaluating and selecting AI Challenge winners, ensuring alignment with the AI Challenge’s scope, viability of software prototype, and NJEDA’s requirements for sub-grant winners
- Proposed panel of diverse, qualified, and relevant judges to select AI Challenge winners, including AI-domain specific experts and SMEs aligned with the AI Challenge’s scope
- Plan for managing sub-grant awards, tracking AI Challenge winners’ progress against milestones, ensuring compliance with reporting requirements, conducting post-Demo Day check-ins, and maintaining transparency through a public project dashboard
- Evidence of the Administrator’s ability to fully execute the AI Challenge within a maximum of 4 months
- Evidence of the financial viability of Administrator’s proposal for AI Challenge execution, including outlining all costs and mitigation for cost overruns
One of the Administrator’s roles will be to determine the scoring criteria for the selection of winning Teams of individuals or early-stage Companies during the AI Challenge. In addition to the Administrator’s scoring criteria, NJEDA has outlined certain requirements for the winning Teams/Companies to ensure compliance with NJ business requirements and successful milestone completion. If the winner is a Team of individuals, they must form a business entity prior to receiving the sub-grant award from the Administrator.
Teams/Companies eligible as AI Challenge winners must meet the requirements outlined below:
- Be registered to do business and have a valid tax clearance certificate from NJ Division of Taxation, or obtain within 30 days of award notice, prior to receiving sub-grant award from Administrator
- Create an AI-based software solution consistent with NJEDA’s defined AI technologies and addressing the AI Challenge’s scope
- Demonstrate ability to further develop the prototype on time and on budget by providing a detailed plan and timeline demonstrating readiness to develop an MVP that is financially viable by the Demo Day Event
- Consist of at least 3 individuals contributing to the product development, including a team lead, and at least 1 member with technical expertise in AI and/or related fields
- Minimum of 50% of the individuals as NJ residents (for Teams of individuals) OR minimum of 50% of the company’s full-time workforce working or paying taxes in NJ (for early-stage Companies). Full-time workforce must be verified via NJWR30 or Registered PEO letter, or other forms of documentation, such as Forms 1099, W2, K1, job descriptions and offer letters.
- Must have no more than 224 employees (for early-stage Companies).
- Commit to working on the AI-based software solution until successful milestone completion as outlined in Administrator’s sub-grant agreement.
- Identify a base of operations in NJ post-Demo Day Event.
AWARD SIZE
A single grant of $3,800,000 will be awarded to the selected Administrator for the Grant Program on a milestone basis, as follows:
- Milestone 1: Selection of Administrator based on NJEDA’s eligibility criteria and scoring. Disbursement of funds for direct/indirect administrative costs for AI Challenge. No more than $456,000 can be disbursed under this milestone.
- Milestone 2: Administrator’s selection of AI Challenge’s winning Teams/Companies based on a scoring matrix, via a judging panel established by the Administrator. Disbursement of funds to the Administrator, for sub-grant awards to the winners for further development of prototype towards Minimum Viable Product (MVP). Under Milestone 2, the Administrator must select between 5-10 winning Teams/Companies, and no more than $1,000,000 can be disbursed under this milestone.
- Milestone 3: Administrator’s demonstration of successful MVP development by winners, and hosting of Demo Day Event. Disbursement of funds to the Administrator, for sub-grant awards to the winners working towards a plan for pilot demonstration or commercialization of software solution post-Demo Day Event. Under Milestone 3, the Administrator must further review and determine follow-on funding based on performance for select winners, and no more than $2,344,000 can be disbursed under this milestone.
Direct and indirect costs incurred by the Administrator for:
- Planning, developing, and managing the AI Challenge events (including but not limited to Initial Competitive Event including Virtual Showcase, Demo Day Event)
- Providing in-kind resources to AI Challenge participants to create and test AI-based software solution during the AI Challenge
- Scoring and awarding sub-grant awards to winning Companies
- Managing sub-grant awards, including legal agreements, compliance with NJEDA’s requirements, milestones, budgets, and reporting to NJEDA
- Ineligible uses of funds include: capital costs (such as construction or equipment purchases), or for financial investments in the winning Companies through which the Administrator receives a financial benefit.
Eligible uses for sub-grant awards disbursed by the Administrator to winning Companies include:
- Development of prototype towards MVP
- Completion of Administrator’s milestones per the sub-grant agreement
- Development of MVP towards pilot demonstration or commercialization post-Demo Day Event
Securing commercial office space in NJ post-Demo Day Event if needed (such as co-working space/incubator facility in NJ, as verified by a lease agreement, co-working space agreement or similar)
During the term of the grant agreement, the Administrator must comply with NJEDA’s reporting requirements as outlined in the grant agreement. The Administrator must ensure AI Challenge winners are in compliance with NJEDA’s eligibility criteria and eligible uses of funds. Any expenditures that do not comply with NJEDA’s eligibility criteria and eligible use of funds must be returned by the AI Challenge winners and/or the Administrator, to NJEDA, at the end of the grant agreement term
FEES
$1000 non-refundable application fee for Administrator Applicants.
- Application Launch: Coming soon
- Application Deadline: Coming soon
PROGRAM GUIDE
QUESTIONS
For more information or to ask a specific question, please send an email to CustomerCare@njeda.gov or call 844-965-1125 and a team member will reach out to you.
Applicants in need of Language Translation Services, please email LanguageHelp@njeda.com