Key Takeaways
- The New Jersey Commission on Science, Innovation, and Technology (CSIT) has awarded $1.3 million in grants to 17 startups through the Clean Tech Research & Development Seed Grant Program.
- The grants will help emerging companies accelerate the development of their technologies and transform their discoveries into commercially viable products and services.
- Since 2020, CSIT has approved 150 awards totaling $13 million to New Jersey companies working in the clean tech sector.
- The Clean Tech Research & Development Seed Grant Program provides grants of up to $75,000 for R&D activities to early-stage, New Jersey-based clean technology companies.
- The program aims to support the development of innovative clean technologies that will help New Jersey achieve its clean energy goals, including reducing greenhouse gas emissions and achieving 100% clean energy by 2035.
Introduction to the Clean Tech Research & Development Seed Grant Program
The New Jersey Commission on Science, Innovation, and Technology (CSIT) has announced the award of $1.3 million in grants to 17 startups through the fourth round of its Clean Tech Research & Development Seed Grant Program. This program is designed to assist emerging companies in accelerating the development of their technologies and transforming their discoveries from the research stage into commercially viable products and services. Since 2020, CSIT has approved 150 awards totaling $13 million to New Jersey companies working in the clean tech sector, demonstrating the state’s commitment to supporting innovation and entrepreneurship in this field.
The Role of CSIT in Promoting Clean Tech Innovation
The former New Jersey Commission on Science and Technology was re-established as the CSIT in August 2018, with the goal of leading the way in promoting New Jersey as a hub for academic and technological research, development, and commercialization. The commission is composed of representatives from the public and private sectors, as well as academia, and is tasked with supporting the growth of the state’s clean tech industry. According to CSIT Executive Director Judith Sheft, "Funding New Jersey startups through grant programs like the Clean Tech Research & Development Seed Grant helps build a stronger economy for the future. Cultivating companies within our state during their formative years helps them establish roots in New Jersey and position them for future financial growth, sustainability, and economic mobility for years to come."
The Clean Tech Research & Development Seed Grant Program
The Clean Tech Research & Development Seed Grant Program was jointly developed by CSIT and the New Jersey Economic Development Authority, and provides grants of up to $75,000 for R&D activities to very early-stage, New Jersey-based clean technology companies. The program aims to support the development of innovative clean technologies that will help New Jersey achieve its clean energy goals, including reducing greenhouse gas emissions and achieving 100% clean energy by 2035. Thirteen of the awardees have five or fewer employees, and 10 are certified as either minority- or women-owned, demonstrating the program’s commitment to supporting diverse and inclusive entrepreneurship.
The Impact of the Clean Tech Research & Development Seed Grant Program
The funding for the Clean Tech Seed Grant Program is being provided through the New Jersey Board of Public Utility’s Clean Energy Program, and will advance innovation that will help the state achieve its clean energy goals. According to CSIT Chair and BioNJ Founding President and CEO Debbie Hart, "New Jersey’s startups are among the very best in the nation and truly place the State at the forefront of innovation. The Clean Tech Research & Development Seed Grant Program reinforces the state’s commitment to its small businesses and nurtures advancements across a range of innovation areas aimed at reducing greenhouse gas emissions. We have seen early-stage companies leverage CSIT funding 15X in follow-on funding and accelerate their development trajectory."
The Awardees of the Clean Tech Research & Development Seed Grant Program
The companies awarded funding work in a range of technology areas, including fusion, innovative solar technology, microgrids, fuel cells, and advanced materials and recycling. The awardees include Canyon Magnet Energy Inc., CarbonDots, LLC, Cecilia Energy, Inc, Cero NJ LLC, Coherent Photonics LLC, CURBON LLC, EV Buddy Inc., Fundamental Carbon Co, Metal Light Inc., NanoSepex Inc., Noble Geofurnace, Novtech, PFASolve Inc., Queens Carbon, Inc., SingletO2 Therapeutics LLC, Skyraptor LLC, and Zaic Design LLC. These companies will use the funding to accelerate the development of their technologies and bring their innovative products and services to market, helping to drive economic growth and job creation in New Jersey.
Conclusion
In conclusion, the Clean Tech Research & Development Seed Grant Program is an important initiative that supports the development of innovative clean technologies in New Jersey. The program has already shown significant success, with 150 awards totaling $13 million approved since 2020. The latest round of funding will help 17 startups accelerate the development of their technologies and transform their discoveries into commercially viable products and services. As the state continues to work towards achieving its clean energy goals, programs like the Clean Tech Research & Development Seed Grant Program will play a critical role in supporting the growth of the clean tech industry and driving economic growth and job creation in New Jersey.