The New Jersey Economic Development Authority (NJEDA) has announced the opening of applications for the Artificial Intelligence (AI) cohort within the New Jersey Innovation Fellows Program (NJIF). Applications will be accepted starting Wednesday, June 18, 2025, at 10:00 a.m. This initiative is part of Governor Phil Murphy's efforts to position New Jersey as a leader in AI-driven business innovation.
The NJIF program offers "income replacement" grants to support entrepreneurs with unique startup ideas. These grants provide financial security during the two-year ideation and formation period of their businesses. Additionally, participants will receive mentorship training led by Princeton University, which includes expert guidance, workshops, and networking opportunities.
The AI cohort will focus on technologies such as machine learning, autonomous decision-making, data-driven insights, natural language processing, computer vision, and generative AI. Grants start at $200,000 with potential bonuses up to an additional $200,000 for qualifying entrepreneurs who meet specific criteria.
Eligible applicants must form teams of at least three individuals working towards launching an AI-driven business. Applications close on Wednesday, July 30, 2025, at 5:00 p.m. A Q&A session will run from May 29 to June 17 for those seeking more information about the program.
