Fellowship
Open
New Jersey Innovation Fellows Program Cohort III 2026
NJEDA grants of up to $400,000 per team pay income replacement to New Jersey first time founders for two years. Cohort III applications close 4 December 2026.
Cohort III is funded from the remaining $2.5 million of a $10 million state appropriation.
| Detail | Value |
|---|---|
| Base award | $200,000 per team |
| Opportunity Zone bonus | $50,000 if one entrepreneur lives in a New Jersey Opportunity Zone |
| Other bonuses | $50,000 per leader who is a New Jersey college graduate or a diverse entrepreneur; up to three, $150,000 in total |
| Number of awards | Up to six; a seventh if funding remains |
| Payment | Eight equal quarterly payments over 24 months |
| Commitment | 35 hours a week for two years; outside work at most 20 hours a week; mandatory mentorship |
| Application fee | $250, non refundable |
Requirements:
- Business plan of at most 3,000 words
- Pitch deck of at most 15 slides
- Organisational chart
- Resumes of every team leader
- Proof of New Jersey income tax and personal address
Source · njeda.gov/wp-content/uploads/2026/08/NJIF_Cohort_III_NOFA.pdf
Published 17 August 2026 · Checked against the organizer's page 10 November 2026
DevGrants Daily, run by Albert Andrejev. How entries are made and checked.
Quick answers
Can an existing company apply?
No. Applicants must not yet have formed or registered the business. Winners register it in New Jersey within 30 business days of the award.
What can the grant pay for?
Only payroll and related payroll costs for the approved entrepreneur team. Proof of a payroll system is required.