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Nj future redevelopment forum 2019 coviello

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Kathleen Coviello presentation for co-working session at Redevelopment Forum 2019.

Published in: Government & Nonprofit
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Nj future redevelopment forum 2019 coviello

  1. 1. History of NJEDA and Collaborative Workspaces March 8, 2019
  2. 2. History of NJEDA and Collaborative Workspaces 2 Commercialization Center for Innovative Technologies (CCIT) CCIT opens its doors as a hub of activity within New Jersey’s innovation ecosystem, offering a variety of resources to help life sciences companies grow and thrive. (2002)
  3. 3. History of NJEDA and Collaborative Workspaces 3 Indiegrove (Jersey City) Cowerks (Asbury Park) NJEDA Funding Supports Expansion of Two Coworking Spaces (2015)
  4. 4. History of NJEDA and Collaborative Workspaces 4 New Lab Space – Biotechnology Development Center (BDC) 32,600 sq. ft commercial life sciences facility Lab & office modules range from 2,000 to 8,000 sq. ft Located on the 50 acre Technology Centre of New Jersey campus Facilitate the growth post- incubation biotech companies Accepting Applications BDC Expands to Provide Post-Incubator, Intermediate Lab & Office Space (2017)
  5. 5. History of NJEDA and Collaborative Workspaces 5 Bergen County FUSE Media Labs Serendipity Labs Burlington County Lakes Workspace Rutgers Eco Complex Incubator Camden County 1776 at Cherry Hill Mal 76ers Innovation Lab Advanced Technology Laboratories CoWork Street Kings Hall Waterfront Labs Essex County ADP Innovation Lab Agile Innovation Sprint C3Workplace Enterprise Development Center Equal Space IDT Ventures In Mosaic LaunchPad Newark Venture Partners New Jersey Innovation Institute Agile Strategies Labs Pilotworks SquareOne Su1te TechNWK Incubator Work and Play Gloucester County Incutate South Jersey Tech Park Hudson County &Co Business Development Incubator Coalition Space Flex Spaces IndieGrove ILSE Jersey City Innovation Lab Kearny Point Mission 50 PrimeWork Real Space Stevens Venture Center WorkSocial New Jersey Sees Significant Increase in Collaborative Workspace (2018-2019) Mercer County Base Camp Biolabs eLabs Princeton Plasma Physics Laboratory Innovation Leadership Programs Tigerlabs TrentonCoWorks Monmouth County Business Development Center CoLabs Cowerks Innovation Labs MetTel Customer Morris County Accenture Innovation Center Aha! Avaya Labs The Coworking Suites at Century Campus Picatinny Innovation Center PrimeWork TechLaunch Somerset County PrimeWork Union County Celgene Incubator L’Oreal Innovation Lab Your Business Energy Warren County Small Business Growth Center
  6. 6. NJ Ignite Participants 66 CCIT EDC South Jersey Technology Park Rutgers EcoComplex 1776 Kearny Point CoLabs Cowerks Rutgers FIC Rutgers FIC Primework Incutate
  7. 7. 7 NJ Ignite: NJEDA Will Pay Your Rent! The NJEDA created NJ Ignite to incentivize startups to utilize collaborative workspaces ~70 collaborative workspaces in NJ, with 16M sq. ft. of life sciences space including a campus owned and run by the EDA for startups: CCIT for post incubation and BDC for larger corporates NJEDA will finance 2, 4 or 6 months of a company’s rent at an NJ approved facility if the approved facility has agreed to match the grant on a 1:2 basis NJ Ignite provides free rent to early-stage technology & life science companies $500,000 Total Pool of Capital $150,000 Per Collaborative Facility $15,000 Max Per Company Rent Breakdown 50% Startup Pays 33% NJEDA Pays 100%17% Collaborative Facility Forgone Rent Step1 In order of commitment Step 2 Step 3

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