New Jersey Institute of Technology (NJIT) community members who want to start a business will soon have access to a $75,000 seed investment from the university’s new Venture Fund as part of a 10-year, $6.75 million commitment funded by the NJIT endowment.
This marks the first time New Jersey Institute of Technology will directly fund startups. NJIT community members have had access to another route, the Highlander Angel Network, since 2013, but that is a group of individual investors, not an official university body. Managers of the new fund said they plan to work together with Angel Network members.
