So far, 11 such sites have been similarly approved through the program under which the NJEDA supports up to six month’s rent for technology and life sciences startups, with workspaces providing rent for half the length of the EDA commitment.
The startups themselves must also commit to paying rent for a period of time equal to the combined length of support from the NJEDA and the workspace in exchange for the grant.
Primework’s first New Jersey location – they also have a spot in Brooklyn – opened recently in Somerset, and according to the company’s website additional locations are coming soon to Parsippany and Jersey City.
Incutate in Sewell was started in 2011 by Lauletta Birnbaum law firm to serve early-stage companies before it evolved into a coworking space.
“Our proximity to Rowan University makes us an attractive option for startups launched by the university’s students and alumni who are looking for office space and hands-on mentorship,” Lauletta Birnbaum Founding Member Frank Lauletta said. “Thanks to NJ Ignite, even more early-stage companies will be able to benefit from our numerous amenities and programs.
Both PrimeWork and Incutate have agreed to offer at least eight “innovation-ecosystem-building events” each year, NJEDA said, as a requirement of NJ Ignite participation. These events can include guest speakers, Meetups or office hours with professionals.
“Entrepreneurs often face critical decisions about how to spend their capital,” NJEDA Chief Executive Officer Tim Sullivan said in a prepared statement. “Through NJ Ignite, we’re helping to alleviate that burden by allowing startups to put their money toward creating jobs, investing in research and development, and commercializing and marketing their products and services.”