New Jersey Innovation Fellows Program (Cohort III)
New Jersey Economic Development Authority (NJEDA)
$200,000 base, up to $400,000
$200,000 per founder team (up to $400,000 with bonuses) to replace income while launching a startup in New Jersey. Cohort III closes December 4, 2026.
The New Jersey Innovation Fellows Program gives teams of at least three full-time founders an income-replacement grant of $200,000, up to $400,000 with bonuses, paid over eight quarters while they build a startup in a New Jersey targeted industry. Half the team must be first-time entrepreneurs, every founder must have paid New Jersey gross-income tax around the time of application, and the venture needs a registered address in an eligible New Jersey municipality. Cohort III applications are open until December 4, 2026 at 5 PM ET and carry a $250 fee.
- Funding type
- Grant
- Level
- State
- Amount range
- $200,000 – $400,000
- Realistic amount
- $200,000 base per team; each $50,000 bonus depends on Opportunity Zone residence, diverse-entrepreneur self-certification or a New Jersey college degree.
- Deadline
- December 4, 2026 at 5 PM EDT (Cohort III)
- Status
- active
- States
- NJ
Who qualifies
- Team of at least three full-time entrepreneurs leading the venture, at least half of them first-time entrepreneurs
- Venture operates in a New Jersey Targeted Industry
- Registered address in an eligible New Jersey municipality (commercial or residential)
- Founders have paid New Jersey gross-income tax at application or within the 60 days before
- Entrepreneur team holds majority equity (more than 50 percent) in the venture
- Founders leave current employment or ventures no more than 60 days before applying
- Venture registers with the State within 30 days of award notice; existing registered startups may not apply
- Founders commit to full-time work (35 hours a week, no more than 20 hours of outside work) for two years and to the mentorship program
- Not eligible: applicants holding or applying for a New Jersey cannabis license or certification
Who is not eligible
- Existing and already registered startups
- Applicants with a New Jersey Cannabis Regulatory Commission license or certification application
What it covers
Eligible expenses
- Income replacement for the founding entrepreneurs (payroll subject to New Jersey income tax)
Ineligible expenses
- Medical benefits
How to apply
-
1
Form a team of three or more founders and check tax and address rules
Every founder needs New Jersey gross-income tax paid within 60 days before applying; the venture needs an address in an eligible municipality and a targeted-industry fit.
~4 hrs
-
2
Write the business plan and 15-slide pitch deck
Business plan up to 3,000 words, pitch deck up to 15 slides, organizational chart and resumes, personal address proof and tax documentation.
~40 hrs
-
3
Submit through the online portal with the $250 fee by December 4, 2026
Fee is paid by credit card and is non-refundable; staff then run a completeness review with a five-business-day cure period.
~2 hrs
-
4
Board review and, if approved, grant agreement and business registration
The Authority expects to present about 5 to 8 applications per cohort to its Board; approved teams register the business within 30 days of award notice.
~5 hrs
The 29-point rubric rewards team track record (up to 20 points for years of experience and time working together) more than the plan itself (5 points), so show how long the team has worked together and in the industry.
Deadline & timing
Cohort III is open now and closes December 4, 2026 at 5 PM EDT. Late applications and applications without the $250 fee are not considered.
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Required documents
- Official NJIF application form
- Business plan (maximum 3,000 words)
- Pitch deck (maximum 15 slides)
- Organizational chart and resumes of the entrepreneur leadership team
- Personal address documentation for each founder
- Proof of New Jersey gross-income tax paid at or within 60 days before application
- Diversity and inclusion plan (scored in the rubric)
- Opportunity Zone residency or diverse-entrepreneur / NJ-graduate documentation for any bonus claimed
- $250 application fee
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Last updated November 8, 2026. GrantCompass is an independent funding-discovery tool and is not affiliated with any government agency. Always confirm details on the official program page.