Default panoramic image
Njeda2 1

New Jersey Economic Development Authority (NJEDA)

Economic Development Agency · 6 Members · North Brunswick, NJ, US · NASVF

About this Program

The Technology & Life Sciences (TLS) team at the NJEDA provides growth capital and administers tax incentives to emerging NJ tech and life sciences companies.

Our Investment Focus

The TLS team, through its Edison Innovation Fund and tax incentive programs, seeks to develop, sustain, and grow technology, clean tech, and life sciences businesses in New Jersey.

Growth Funds:

Edison Innovation Growth Fund: Angel and VC supported technology companies with minimum trailing 12 month commercial revenues of $500,000 may be eligible for $250,000 to $1 million in subordinated convertible debt financing.  Growth capital through the Edison Innovation Growth Fund can be used for key hires, product rollout, product enhancement, and marketing/sales.  There is a 2:1 angel and 1:1 VC match funding requirement that must be received within 90 days prior to application.

Edison Innovation Green Growth Fund: Technology companies with Class I renewable energy or energy efficiency products or systems that have achieved "proof of concept" and successful independent beta results may be eligible for subordinated convertible debt financing up to $2 million to advance technologies in becoming competitive with traditional sources of electric generation.  There is a 1:1 match funding requirement that must be received by time of loan closing.

Edison Innovation Clean Energy Manufacturing Fund:  Two separate program components offer up to $3.3 million as a grant and loan for New Jersey manufacturers of Class I renewable energy and energy efficiency technologies.  Up to $300,000 is available as a grant to assist with the manufacturing site identification and procurement, design, and permits.  Up to $3 million is available as a loan to support site improvements, equipment purchases, and facility construction and completion.  One-third of the loan may convert to a performance grant if certain business and technology-based milestones are met.

Tax Incentives:

Technology Business Tax Certificate Transfer Program (NOL): Qualified technology and biotechnology companies may be eligible to sell unused net operating losses and R&D tax credits to unrelated profitable corporations for at least 80% of their value, up to a maximum lifetime benefit of $15 million.  To qualify, the applicant must have at least one full-time employee working in New Jersey if incorporated less than three years, five full-time employees in New Jersey if incorporated more than three years but less than five years, and 10 full-time employees in New Jersey if incorporated more than five years.

Grow New Jersey Assistance Program: The program is available to businesses creating or retaining jobs in New Jersey and making a qualified capital investment in a business facility. The total per employee annual tax credit is dependent on a number of different factors, including industry and location.

Angel Investor Tax Credit Program: Investors in NJ emerging technology and life sciences companies are eligible for a 10% refundable tax credit that can be used on corporate business tax or gross income tax returns. The investor does not need to be a NJ resident to qualify for this program. 

Preferred Industries

  • Biotechnology
  • Clean Technology
  • Computers and Peripherals
  • Electronics / Instrumentation
  • Industrial/Energy
  • Internet / Web Services
  • Medical Devices and Equipment
  • Mobile
  • Nanotechnology
  • Networking and Equipment
  • Security
  • Semiconductors
  • Software
  • Telecommunications

Preferred Locations

  • New Jersey, US