PARSIPPANY — Entrepreneur teams in Parsippany and across New Jersey can now apply for income replacement grants of up to $400,000 through the New Jersey Innovation Fellows Program.
The New Jersey Economic Development Authority is accepting applications for the program, which supports teams launching businesses in the state’s targeted industries. Those include clean energy, life sciences, advanced manufacturing, information technology, and other innovative sectors.
Base grants of $200,000 are available. Teams can receive bonuses of up to $200,000 more for entrepreneurs who live in Opportunity Zones, self-certify as women or minorities, or graduated from a New Jersey college or university.
To be eligible, a team must have at least three full-time members, and at least half of them must be first-time entrepreneurs. Teams must commit to working full time, at least 35 hours per week, for two years and take part in a mentorship program.
Applications are due by 5:00 p.m. on Friday, December 4.
For more information and to apply, Click here.
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