The program is designed to incentivize investment in emerging companies while creating mentoring, networking and educational opportunities.

The program is designed to incentivize investment in emerging Garden State companies while creating opportunities to help them succeed. Venture capital firms will later match the funding raised, which will go toward high-growth, early-stage businesses across New Jersey.

The New Jersey Innovation Evergreen Fund will utilize up to $600 million for the state to become an equity partner in startups alongside venture capital groups in an effort to partner with and support entrepreneurs in the private sector.