Funding Resources

Access to capital is a major hurdle for biotechnology companies of every size. BioNJ is pleased to serve as a clearinghouse for funding information, opportunities and resources.

PUBLIC FUNDING RESOURCES

Government

Defense Advanced Research Projects Agency

The Defense Advanced Research Projects Agency (DARPA) is soliciting innovative research proposals of interest to the Biological Technologies Office (BTO). Proposed research should investigate leading edge approaches that enable revolutionary advances in science, technologies, or systems at the intersection of biology with engineering and the physical and computer sciences. Specifically excluded is research that primarily results in evolutionary improvements to the existing state of the art. BTO seeks unconventional approaches that are outside the mainstream, challenge assumptions, and have the potential to radically change established practices, lead to extraordinary outcomes, and create entirely new fields.

Economic Development Administration (EDA)

The U.S. Economic Development Administration’s investment policy is designed to establish a foundation for sustainable job growth and the building of durable regional economies throughout the United States. This foundation builds upon two key economic drivers – innovation and regional collaboration. Innovation is key to global competitiveness, new and better jobs, a resilient economy, and the attainment of national economic goals. Regional collaboration is essential for economic recovery because regions are the centers of competition in the new global economy and those that work together to leverage resources and use their strengths to overcome weaknesses will fare better than those that do not. EDA encourages its partners around the country to develop initiatives that advance new ideas and creative approaches to address rapidly evolving economic conditions.

Government Grants for Small Businesses in 2023

How can I get a government small business grant? These are the steps for getting a small business grant. www.chamberofcommerce.org

National Center for Advancing Translational Sciences (NCATS)

NCATS seeks to increase small business participation in federally supported research and development as well as private-sector commercialization of technology developed with federal support. The Center achieves this through the federal government’s Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs.

New Jersey Economic Development Authority (NJEDA) Financing and Incentives

Launched in support of Governor Murphy’s 2018 Economic Development Plan: The State of Innovation: Building a Stronger and Fairer Economy in New Jersey, NJEDA’s Strategic Sector efforts aim to accelerate the growth of New Jersey’s economy by developing and implementing programs that enhance the State’s long-term economic competitiveness in eight strategic sectors. NJEDA works in partnership with industry leaders, academic institutions, and government agencies to provide a coordinated approach to sector-based growth. We leverage New Jersey’s existing assets and implement programs to increase economic opportunities and create jobs.

New Jersey Business Action Center

Economic Development in New Jersey requires a new course in order to create the optimum conditions for business growth and job creation in the State.

The New Jersey Business Action Center plays a key role in helping grow, retain and attract business to the State. The center serves as a “one-stop” shop for business. The team at the Center works to encourage entrepreneurship by supporting New Jersey’s businesses of all sizes, supporting the global competitiveness of New Jersey companies, as well as to promote the State’s attractiveness as a vacation destination and business investment location nationally and internationally.

New Jersey Small Business Development Centers (NJSBDC)

The New Jersey Small Business Development Center was established by Congress in 1978 as one of the first national SBDC pilot projects resulting from the passage of Public Law 96-302. At present the NJSBDC network is composed of the headquarters located at Rutgers Business School – Newark and New Brunswick, and 12, full-service, regional centers, and an additional 28 affiliate (or satellite) offices located throughout the state. Regional centers are hosted by and affiliated with a two- and four-year college and university business programs with a major footprint for comprehensive small business assistance and outreach.

National Institutes of Health

The National Institutes of Health (NIH) is the largest basic science research institute in the world. We conduct basic research with the mission to improve global health. Through our extramural program, we fund research around the world in the causes, diagnosis, prevention, and cure of human diseases; in the processes of human growth and development. The Small Business Innovative Research (SBIR) Program is how the NIH helps support small company innovation.

SBIR

The Small Business Innovation Research (SBIR) program is a highly competitive program that encourages domestic small businesses to engage in Federal Research/Research and Development (R/R&D) that has the potential for commercialization. Through a competitive awards-based program, SBIR enables small businesses to explore their technological potential and provides the incentive to profit from its commercialization. By including qualified small businesses in the nation’s R&D arena, high-tech innovation is stimulated and the United States gains entrepreneurial spirit as it meets its specific research and development needs.

NCI SBIR: FUNDING AND COMMERCIALIZATION RESOURCES FOR CANCER TECHNOLOGIES

SCORE

SCORE is a nonprofit association dedicated to helping small businesses get off the ground, grow and achieve their goals through education and mentorship. We have been doing this for nearly 50 years. Because our work is supported by the U.S. Small Business Administration (SBA), and thanks to our network of 11,000+ volunteers, we are able to deliver our services at no charge or at very low cost.

Women’s Center for Entrepreneurship

Our mission is to provide the tools for women to successfully own, operate and grow their small businesses, thereby investing financially, intellectually and emotionally in their community. (973) 507-9700

Universities

Center for Urban Entrepreneurship & Economic Development (Rutgers University)

The mission of the Center is to build a world-class research-driven, teaching and practitioner-oriented urban entrepreneurship and economic development program that will transform the economy of the City of Newark, New Jersey, and other urban centers; create wealth in urban communities; and be a model for all urban universities. (973) 353-1288

The Institute for Entrepreneurial Leadership (IFEL)

IFEL takes a holistic, hands-on approach to helping entrepreneurs grow their businesses. The focus is on minority and female urban businesses with a strong vision and viable business model. (973) 353-0611

Procurement Technical Assistance Center (PTAC)

The NJIT Procurement Technical Assistance Center (PTAC) provides contractual and technical assistance to small-established New Jersey businesses interested in marketing their products, services to federal, state and local governments. The center operates under a cost sharing cooperative agreement between the Department of Defense and New Jersey Institute of Technology. (973) 596-3105

Rowan Innovation Venture Fund

The Rowan Innovation Venture Fund is a University-based, $5 million private-equity fund. The Rowan University Foundation established the Fund in 2014 to provide early stage funding to companies that have developed and tested projects and products that are ready to compete in the marketplace. The Fund welcomes applications from individuals and companies in their early seed stage that have obtained some previous financial support, including from friends and family.

PRIVATE FUNDING RESOURCES

Angels

Highlanders Angel Network

The NJIT Highlanders Angel Network, Inc. is comprised of accredited investors (based on the guidelines specified by the Securities and Exchange Commission) who are NJIT Alumni, NJIT faculty/staff, private investors, large and small business executives, and industry professionals. They possess a full range of skills representing multiple industries. The NJIT Highlanders Angel Network, Inc. investors may provide investment capital, mentoring, and access to a network of resources to support High-Tech Life Science & Technology related businesses (e.g. bioscience, information technology, advanced energy, electronics controls, sensors, and advanced materials industries). The Network also promotes entrepreneurship activities at NJIT through exposure to Angel investors who will make investments in worthy business ventures. When applicable, the NJIT Highlanders Angel will assist in forging partnerships for entrepreneurial companies. The NJIT Highlanders Angel Network, Inc. is associated with NJIT. The NJIT Highlanders Angel Network, Inc. is an independent non-profit corporation dedicated to providing a forum for angel investors.

Jumpstart New Jersey Angel Network

Jumpstart NJ Angel Network is a member-led, angel group of successful serial entrepreneurs, business executives and venture capitalists which actively invests in early stage technology ventures in the Mid-Atlantic region and beyond.

Keiretsu Forum

With nearly 2,250 accredited angel investor members dispersed throughout 47 chapters on three continents, Keiretsu Forum is an investor – private equity community which receives applications for funding consideration. Keiretsu Forum Mid-Atlantic has Chapters in NY, Philadelphia, DC/Baltimore and Pittsburgh. In 2016, a total of $7.8m was invested across 37 companies.

MidAtlantic BioAngels – 1st Pitch

1st Pitch Life Science is organized by MABA (Mid Atlantic Bio Angels) a life science investor group, to encourage and educate aspiring life science entrepreneurs who know they may be too early to seek investment but want the opportunity to practice their pitch and to receive construction criticism from experienced and knowledgeable professionals.

NJ Life Science Capital Connectors (LSCC)

LSCC showcases best-in-class biopharmaceutical entrepreneurs with the goal of providing feedback and connections for the entrepreneur – not to make an investment. It is our hope that through our engagement and input that participating entrepreneurs will become more investable and ultimately connected to investments.

Venture Capital Firms

Leading Edge Ventures

Leading Edge Ventures provide venture capital financing and guidance to exceptional entrepreneurs whose innovative companies are transforming their markets

National Association of Seed and Venture Funds (NASVF)

The National Association of Seed and Venture Funds is an organization of innovation capital leaders: private, public and non-profit organizations committed to building their local economies by investing in local entrepreneurs.

Tech Council Ventures

Tech Council Ventures invests in the most promising early stage, rapid growth technology companies in the Mid-Atlantic region. Portfolio companies benefit from the Fund’s affiliation with one of the largest and most active technology councils in the nation for introductions to customers, recruits, resellers and distributors, Board directors, investors and quality service providers.

Venture Association of New Jersey (VANJ)

A monthly meeting of entrepreneurs and service providers addressing issues of financing for early stage companies. Twice a year, an Entrepreneurs Expo & Elevator Pitch Olympics are held. (973) 267-4200 x193