Applications for NJIF Cohort III will be open from Wednesday, September 9, 2026, at 10:00 AM EST, and must be submitted by Friday, December 4, 2026, at 5PM EST.
There will be a 14-business day Q&A period, from Wednesday, August 19, 2026, 10:00am EST to Wednesday, September 9, 2026, 5:00pm EST.
The Innovation Fellows program supports entrepreneurs with unique startup ideas with access to mentorship and “income replacement” grants. This resource creates an opportunity for the entrepreneurs to pursue unique startup business ventures with the security of initial income replacement funding and guidance during the two-year ideation and formation period of their businesses.
Per program policy and in accordance with the legislation, approved teams will be qualified to receive $200,000 as a base award, and up to $200,000 in bonuses (resulting in a total $400,000 award). Bonuses include $50,000 if any one of the entrepreneurs in a team resides in an Opportunity Zone within the State. An additional $50,000 bonus is awarded for each Entrepreneur leader on the Fellows team with a diversity self-certification or education bonus up to $150,000, resulting in a total potential award of $400,000.
Awards will be disbursed over eight quarters to teams that meet and maintain compliance milestones.
Grants of $200,000
$50,000 opportunity zone bonus
$50,000 for each potential entrepreneur (maximum of 3) that self-certifies as a woman or minority, or demonstrates graduation from a NJ college or University
Up to $400,000 in total grant award
Income-replacement capital for entrepreneurs
Mentorship and technical training
Grow New Jersey’s Entrepreneur base and its Innovation Economy
Drive the formation and growth of promising new ventures
Consist of a team of no less than three individuals
The venture must operate within New Jersey’s “Targeted Industries”
All grant recipients to receive income from award must have paid gross-income tax to New Jersey within 60 days leading up to application
FULL LIST IN APPLICANT ELIGIBILITY TAB BELOW