New Jersey S3592 creates a grant program for business accelerator and incubator networks, transferring $1 million in societal benefits charge.
New Jersey S3592 establishes the "Business Accelerator and Incubator Network Grant Program," administered by the New Jersey Economic Development Authority. The program awards grants to business accelerators or incubators supporting incubator businesses in fields such as clean energy, life sciences, and advanced materials. The program is funded by up to $1 million in societal benefits charge revenues and other available funds. Grant recipients must provide proof of their incubator business's field and developmental stage. The program expires six years after its establishment.
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