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

1. History of NJEDA and Collaborative Workspaces
March 8, 2019

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. History of NJEDA and Collaborative Workspaces
3
Indiegrove (Jersey City) Cowerks (Asbury Park)
NJEDA Funding Supports Expansion of Two Coworking Spaces
(2015)

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. 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. 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
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