The New Jersey Commission on Science and Technology has developed a grant program specifically for technology-based incubator clients resident in the Commission on Science and Technology supported incubator network. The Commission’s Incubator Seed Fund is designed to accelerate the business development process and produce significant value for the companies receiving the awards.

The Incubator Seed Fund will provide, on a competitive basis, funds to assist emerging businesses achieve a critical milestone in their commercialization path. The direct financial support from the Commission will compliment the mentoring and business support provided by incubator managers as they assist these emerging companies in commercializing their technologies.

Timetable for Required Submission

The following timeline will be applicable to this announcement. Applications must be submitted with the original, two hard copies and one electronic copy and must be received in the NJCST office by the specified date and time.

Application due	May 7, 2008 – 3:00pm
Awards made	June 2008

Company Eligibility

To be eligible for the Incubator Seed Fund Grant, the incubator client company must meet the following requirements:

• A technology-based businesses resident at one of the 12 NJCST supported incubators
• 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.
• 75% of employees live in New Jersey
• Employing 75% of its employees in New Jersey