The
Morgan Stanley Multicultural Innovation Lab (MSMIL), an accelerator that helps startups led by women and people of color gain funding, has been named the first participant in the NJ Accelerate.
The New Jersey Economic Development Authority (NJEDA), which launched the NJ Accelerate, announced the partnership, one of the first times that a state has teamed up with a major financial company on such a program.
The accord comes as the MSMIL will expand its program starting in winter 2021 to typically invest $250,000 in such a startup, an increase from $200,000 in prior cohort companies. The new initiative is needful capital-wise. Black founders receive less than 1% of venture capital funds annually, and Black women founders account for less than that, the
Press Releases
Ahead of Senate and Assembly Committee Hearings, New Jersey Leaders Applaud Economic Recovery and Tax Incentives Reform Legislation December 17, 2020, 11:10 pm | in
Ahead of Senate and Assembly Committee Hearings, New Jersey Leaders Applaud Economic Recovery and Tax Incentives Reform Legislation
12/17/2020
“This long-awaited incentive reform package will offer valuable support to the state’s entrepreneurial and innovation ecosystem. It is both comprehensive and sufficiently funded to help attract and retain more companies,”
said James Barrood, Advisor at Tech Council Ventures. “The investor community is pleased to see Evergreen funding and increases in the state’s popular angel credit and NOL programs. I am also encouraged by the Main Street Recovery programs and the additional funds supporting minority businesses. Our small business community, especially our minority-owned businesses, have been battered by this brutal pandem
Flemington hopes $100K grant will further downtown revitalization
FLEMINGTON This historic borough is the county seat and already a main artery through Hunterdon County. But a $100,000 Opportunity Zone grant from the New Jersey Economic Development Authority is giving local officials hope it will be more than just a point on a map and more like a destination and gateway.
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Patrick Lavery is New Jersey 101.5 s afternoon news anchor. Follow him on Twitter @plavery1015 or email patrick.lavery@townsquaremedia.com.
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