Graduates of the program — which typically runs from May to September, though the 2014 schedule is still being determined — earn seed capital of up to $25,000.
TechLaunch founder Mario Casabona said the program aims to identify the “most deserving and viable new companies,” particularly businesses that are technology oriented, including web technology, mobile and hardware companies that have core founding teams in place.
After getting accepted into the four-month program, LaunchPad participants practice pitching their ideas to investors and gain access to mentors, business training, co-working space and other services. It culminates in a Demo Day in which graduates pitch their business models publicly.
TechLaunch held its most recent Demo Day in September at Montclair State University, graduating nine tech startups. A total of 19 startups have graduated from the accelerator program since it began in 2012.
About 10 to 12 startups will be accepted for the 2014 round. Selections will take place over several weeks. Interested individuals can sign up online to be notified when the application process goes live Friday.
TechLaunch was created in 2011 to help aspiring entrepreneurs commercialize new forms of technology. It was formed in collaboration with Casabona Ventures, Jumpstart New Jersey Angel Network and the New Jersey Economic Development Authority.