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The New Jersey Economic Development Authority held its latest Founders & Funders event Oct. 29 at Kean University.

NJBIZ reported previously on the forum. Founders & Funders brings together startups, investors and other key stakeholders in the innovation economy for a day of meetings, networking opportunities and more.

At the October event, 24 New Jersey-based companies had the opportunity to meet with 20 venture capital firms. The VC partners included six based in the Garden State and 14 headquartered in other states.

Since 2014, the NJEDA has held 18 Founders & Funders events, connecting innovative emerging New Jersey companies with sophisticated angel investors as well as venture capital firms.

In that time, more than 430 companies and 290 investors have participated in Founders & Funders.

At the latest, the attending companies sought more than $65 million in funding. The event resulted in 177 meetings facilitated between companies and investors.

Fostering connections

NJEDA Deputy CEO Mary Maples noted the focus and investment from Gov. Phil Murphy and his administration to support the state’s entrepreneurs and startups.

“Through initiatives like Founders and Funders, the NJEDA continues to foster meaningful connections between investors and entrepreneurs,” said Maples.

“Since launching in 2014, the NJEDA’s Founders and Funders initiative has connected hundreds of startup companies with investors which has expanded access to capital, created new economic opportunities, and strengthened New Jersey’s innovation ecosystem,” said NJEDA Chief Economic Transformation Officer Kathleen Coviello. “This year’s event highlighted the incredible breadth of talent within our startup community and underscored the powerful impact that investment in innovation can have on our state’s future.”

The forum offers a real-time look at the innovation ecosystem in action. It also presents an opportunity for entrepreneurs and investors to connect.

“The Founders & Funders event is a unique opportunity to plug into the NJ innovation ecosystem in a seamless, low lift, high yield way,” said Pierce Crowley of Activate Venture Partners.