NJIF is aimed at supporting early-stage businesses by providing income replacement grants to diverse teams, so entrepreneurs can dedicate themselves to growing the business, as well as training and a robust mentorship initiative that is facilitated by the New Jersey Innovation Institute (NJII) or The Rowan Center for Innovation & Entrepreneurship (RCIE).
The inaugural cohort will receive a total of $3.6 million in income replacement grants. The program calls for each team to receive a grant of $200,000. Bonus grants are available to eligible teams: those located in designated opportunity zones; those with members who self-certify as a woman or minority; or that graduated from a New Jersey college or university. Participants can receive a maximum of $400,000 in awards.
The NJEDA says this cohort includes 20 first-time entrepreneurs who will receive $1.7 million in bonus grant funding.
Supporting ventures in life sciences, film, information technology and professional services sectors, the first round of NJIF companies include:
AbilityHUB – West Windsor, $350,000 – Will facilitate collaboration among different stakeholders to connect, predict and ensure the delivery of services that impact whole person health for the disabled community.
AnataMed – East Orange, $350,000 – A medical device company that is developing a one-of-a-kind, durable back brace that also enables rehabilitative movements to innovatively treat patients with core and back pain.
Fire Start Productions – Gloucester Township, $250,000 – A startup film and digital media company that specializes in virtual production technologies.
Helloboss – Jersey City, $350,000 – A company that aims to provide small businesses with high-quality professional services offered through its digital mobile marketing application.
Klick Studios – Burlington City, $400,000 – A digital content creation studio that provides clients high-quality visual media production content for marketing and advertising purposes.
Liv Again Wellness – Vineland, $350,000 – A company that offers mobile IV hydration services through IV hydration therapy with a focus on immediate, personalized, nutritional support beyond traditional medical settings.
My FitPlate – Jersey City, $400,000 – A company that is developing a digital mobile fitness and nutritional wellness application that will integrate virtual reality technology into client wellness plans as well as the gamification of home workout programs, meditation and stress management strategies.
Planthopper Corp. – Keansburg, $350,000 – A bio-controls company designed to defend and protect food security under threat by the spotted lanternfly infestation.
Quarks Advantage – Jersey City, $400,000 – A high-tech digital consulting firm that will focus on helping small businesses achieve their goals through the use of artificial intelligence (AI) tools.
Thrivio Health – North Bergen, $400,000 – Offers an AI-driven health care platform and digital therapeutics for primary care, urgent care, mental health and pediatric care.
“Gov. Phil Murphy has been committed to growing our state’s innovation economy and ensuring entrepreneurs of all background have the tools to get their businesses off the ground,” said NJEDA CEO Tim Sullivan. “The NJIF, a first-in-the-nation program, levels the playing field for first-time entrepreneurs by providing the funding and training needed to succeed. By supporting these 10 new, cutting-edge companies, New Jersey is firmly cementing itself as a national leader in innovation.”
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