Technology Leaders of the Delaware Valley – April meeting
Tech Leaders:
Our next meeting of the Tech Leaders will be held on April 18th (Thursday) at 8 AM. As always, try to arrive 15 minutes or so early to get some of the worst breakfast available in a facility not subsidized by the state. Some in line for food may appear to be institutionalized but it’s just Kaydon! I had to my brother!!!
The next meeting should be a good one. I was recently introduced to Doug MacDonald of the NJ Economic Development Authority (www.njeda.gov). Doug and I spoke about the NJEDA commitment to supporting tech companies in NJ. In spite of the banter from this group, we haven’t offended Doug enough to ask me to remove him from the email list. Others have made such requests and we’ve quickly forgotten them. I digress.
Doug has offered to come from his seat in N. Jersey where he’s often found crying about the GIANTS. When not disgusted by that organization he’s working hard to support the Tech industry in this state. He’s offered to lead our next meeting to talk about current programs available to help our tech industry grow in this state. I’ve attached the NJEDA product deck for NJ Tech Startup and Scaleup companies.
Doug noted the products offered by NJEDA fall into 1 of 2 buckets:
- Dilutive – For example:
- NJ Innovation Evergreen Fund – Co-matching investments (price-based equity, no safes) with qualified venture partners into NJ Tech Startup and Scale Up Companies
- Angel Match Program – Debt financing timed with venture investments.
- Non Dilutive:
- Angel Tax Credit – Rebates of up to 20% to investors in NJ tech startups.
- Net Operating Loss Program – Annual marketplace where startups with tax credits from unprofitable years can sell those credits, to raise non-dilutive capital.
- NJ Founders & Funders – In-person networking event 2x per year.
- NJ Ignite – Rent assistance grants
- Commission on Science, Innovation and Technology – Grant programs for very early-stage companies.
Plan on attending this meeting to learn more about these programs either for your own company, perhaps one you’ve invested in or to let others know.
I’ll make the conference call number available for those out of the region that wish to join. It seems to be a decent option: (856) 517-0055 code 1450.
Thanks,
Steve
Doug MacDonald
Tech Sector Lead
New Jersey Economic Development Authority (NJEDA)
Cell: 609.947.8061
>> Newark and JC — 2 of the Top 5 Hottest US Cities for Careers in Tech.
>> Top Universities – Princeton #1; Rutgers #55, NJIT #1 Best Public School in Northeast for Undergraduate Entrepreneurship
>> NJ 8th Best State for Business
>> NJ’s Credit Rating Upgraded to A or A+ by KBRA, Moody’s S&P Global, and Fitch Ratings
NJEDA Overview Deck 6.13.23
invite
Location: REDZ Restaurant at the Doubletree Hotel, Mount Laurel, NJ
