Ten New Jersey businesses — made up of 30 entrepreneurs — will receive a total of $3.6 million in income replacement grants, as well as mentorship and training, as part of the New Jersey Innovation Fellows program, a first-of-its-kind initiative from the New Jersey Economic Development Authority.
A cornerstone of the program is its robust mentorship initiative, designed to complement the financial support. Each startup will participate in a comprehensive mentorship program facilitated by the New Jersey Innovation Institute or the Rowan Center for Innovation & Entrepreneurship. Mentorship and network support can help mitigate the risk of business failure, which many first-time entrepreneurs experience, and can propel businesses to the next level.
A look at the cohort:
- Fire Start Productions, Gloucester Township, $250,000: This startup film and digital media company specializes in virtual production technologies.
- Klick Studios, Burlington City, $400,000: The digital content creation studio will provide high-quality visual media production content for marketing and advertising purposes for its clients.
- Liv Again Wellness, Vineland, $350,000: The company offers mobile IV hydration services through IV hydration therapy, and will focus on immediate, personalized, nutritional support, beyond traditional medical settings.