New Jersey is looking for the next Google. With an eye toward nurturing the next generation of technology pioneers, the New Jersey Economic Development Authority (EDA) this week approved entering into a partnership with TechLaunch, LLC to create the state’s first Technology Accelerator. “This is an opportunity for the state to partner with the private sector to fill a market need in New Jersey by helping promising entrepreneurs achieve success,” said EDA Chief Executive Officer Caren Franzini. “We are embarking on a competition for innovation to reveal New Jersey’s entrepreneurial strengths, using a model that provides a potential return on the EDA’s investment and allows New Jersey to compete with neighboring states in maintaining and attracting technology talent.”
The accelerator model has achieved notable success in other states by offering technology-focused entrepreneurs an opportunity to showcase their products and ideas in a highly intensive, mentor driven and boot camp-style environment in return for an opportunity to receive funding. While building on this successful model, New Jersey’s initiative will be unique due to the first-rate talent associated with the state’s large enterprise businesses, the considerable intellectual property assets of these businesses and the ensuing acquisition pipeline from these same industries.
To read the full, original article click on this link: EDA ACTS TO ADVANCE NEW JERSEY’S FIRST TECHNOLOGY ACCELERATOR PROGRAM | NJTC TechWire
