CSIT Awards $3M to NJ StartUps Through Clean Tech Programs

The New Jersey Commission on Science, Innovation, and Technology (CSIT) has awarded a combined $3 million in grants to 41 New Jersey startups through its Round 3 Catalyst Seed Research and Development (R&D) Grant and Clean Tech Seed Grant programs. The awards will help young companies accelerate the development of their technologies and transform discoveries from the research stage into commercially viable products and services.

“Supporting New Jersey startups through grant initiatives like the Catalyst Seed R&D Grant and the Clean Tech Seed Grant will help create a robust economy for the future and advances Governor Murphy’s vision for the state,” said CSIT Executive Director Judith Sheft. “Nurturing companies in their early stages allows them to establish a foundation in New Jersey, setting the stage for long-term financial growth, sustainability, and economic mobility.”

Companies awarded grant funding are developing innovations in medical devices, Artificial Intelligence (AI), software development, film and digital media, and non-retail food and beverage. Since 2020, CSIT has awarded 368 companies grants totaling over $21 million.

“Under Governor Phil Murphy’s leadership, New Jersey has dedicated significant resources to help young, innovative companies get their products to the marketplace, allowing the state to emerge as a premier destination for startups,” said New Jersey Economic Development Authority (NJEDA) Chief Executive Officer Tim Sullivan. “These CSIT grant programs enable entrepreneurs to obtain funding for essential research and technologies that enhance our society, generate high-paying jobs, and strengthen New Jersey’s standing as a leader in equitable, diverse, and transformative innovation.”

CSIT’s Round 3 Catalyst Seed R&D Grant Program has awarded 26 early-stage startup companies a total of $1.95 million in funding through grants of up to $75,000 for companies developing innovations in various fields, including manufacturing, transportation and logistics, film and digital media, life sciences, non-retail food and beverage, finance and professional services, and technology sectors. These sectors have all been identified as targeted industries in Governor Murphy’s economic development plan. Of those receiving awards from CSIT, 70 percent of awardees have six or fewer employees, 22 percent are certified as minority-owned businesses, and 19 percent of the awardees are located in an Opportunity Zone.

“New Jersey’s startups are amongst the best in the nation and place the State at the forefront of innovation and conservation,” said CSIT Chair and BioNJ Founding President and CEO Debbie Hart. “The Catalyst Seed R&D Grant and Clean Tech Seed Grant Programs reinforce the State’s commitment to its small businesses and nurture advancements in a range of innovation areas, including life sciences, technology, and clean tech sectors. We have seen early-stage companies leverage CSIT funding 15.5X in follow on funding thereby advancing and accelerating their development trajectory.”

A total of $1.1 million in funding has been awarded to 15 companies chosen in Round 3 of the Clean Tech Seed Grant Program. The Clean Tech Seed Grant Program, which was jointly developed by CSIT and the NJEDA, provides grants to early-stage, New Jersey-based clean technology companies to help them advance the development of their products and services so they can begin finding investors and generate revenue. 87 percent of awardees have five or fewer employees. Additionally, 27 percent of the awardees are certified as minority-owned businesses, and 47 percent of the awardees are located in an Opportunity Zone.

Funding for the Clean Tech Seed Program is provided through the Board of Public Utilities’ Clean Energy Program to advance clean energy innovation and help New Jersey achieve our goals of 100 percent clean electricity by 2035 and an 80 percent reduction of greenhouse gas emissions by 2050.

Surrounding Catalyst Seed Grant Awardees:

• Talon Biomarkers (Morris County): Flow cytometry assesses cell-associated proteins, determining the quantity of various cell types.
• AlphaROC Inc. (Essex County): Built a suite of AI-powered tools leveraging unique data sets to help investors gain customized, unbiased insights into a business’ present and future economic health.
• BioNanoTech, LLC (Mercer County): Developing new class of IMAC nanoresins that provide high purity in a single-step separation of both cytosolic and membrane proteins.
• EnaChip, Inc. (Somerset County): Developing a groundbreaking innovation revolved around a proprietary high frequency electroplated multilayer magnetic alloy, which is highly versatile and tailored to diverse applications.
• Endomedix, Inc. (Essex County): PlexiClot™ is designed for use as an absorbable hemostat, initially for use in brain and spinal procedures.
• Heal R World, LLC (Somerset County): Developing an innovative fintech card program pilot.
• MIRAKARE INCORPORATED (Middlesex County): Developing a platform that integrates both quantitative and qualitative health data, ensuring a comprehensive understanding of the care recipient so that the caregivers can better care for them.
• Next Breath, Inc. (Middlesex County): Developing innovative technological approach to managing Chronic Obstructive Pulmonary Disease (COPD) and anxiety in a unique, user-friendly mobile application.
• Plumeria Therapeutics Inc. (Middlesex County): Developing diagnostics for chronic pain.

Article courtesy of the NJEDA.