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The Edison Innovation R&D Fund will provide funding to New Jersey technology companies for proof-of-concept research and development activities and ancillary activities necessary to commercialize the identified technology. Companies are encouraged to partner with a New Jersey PhD granting university or with a company or institution with a primary business location in New Jersey. Please note that NJCST does not require a fee to process this application.

Supplemental financing will be available through the New Jersey Economic Development Authority (NJEDA) for non-project specific costs not covered by the grant.  Companies that are awarded the Edison Innovation R&D Fund can apply for and receive up to 20% of the approved NJCST grant, not to exceed $100,000, from the NJEDA in equity-like financing for non-R&D related costs.  Terms for this supplemental funding are non-negotiable

Program Goals
  • To grow successful technology businesses in New Jersey
  • To grow jobs in New Jersey
  • To promote collaboration between New Jersey technology companies and New Jersey research universities, companies or institutions
  • To provide early-stage financing and commercialization support for New Jersey technology companies

 Applications are not being accepted at this time

Program Definition


The Commission on Science and Technology will award grants to New Jersey Companies in the amounts of $100,000 to $500,000. The Edison Innovation R&D Fund will provide grants on a competitive basis.

Companies are encouraged to partner with any New Jersey PhD granting universities or with any company or institution with primary business location in New Jersey.

 

Program Eligibility


Lead Company eligibility

  • Organized as a C Corp or an LLC
  • Principal place of business in New Jersey
  • 75% of employees live in New Jersey
  • 75% of employees work in New Jersey
  • Minimum of one full time employees at the company with applicable industry experience
  • Total revenue of this company and all its subsidiaries is less than $10 million
  • The applicant’s primary business is the provision of a scientific process, product or service and the applicant owns, has filed for, or has a license to use protected, proprietary intellectual property.
  • Company may not be a home or university based operation

Partner Organization Eligibility

  • All New Jersey universities
  • Companies or institutions with primary business location in New Jersey

Matching Fund Requirements

  • Source of matching funds must be demonstrated and may not be other state funding sources
  • Applicant Company – must contribute cash at a minimum of 50% of CST funds
  • Partner University – must contribute in-kind or cash at a minimum of 20% of CST funds
  • Partner Company or Institution - must contribute cash at a minimum of 20% of CST funds