The New Jersey Economic Development Authority (NJEDA) will open applications for the Artificial Intelligence (AI) cohort within the New Jersey Innovation Fellows Program (NJIF) program on Wednesday, June 18, 2025, at 10:00 a.m. The NJIF’s dedicated AI carveout will provide income replacement grants of up to $400,000 to eligible entrepreneur teams looking to launch AI-driven businesses, building on Governor Phil Murphy’s goal of establishing New Jersey as a leader in the emerging industry.

WHAT: The NJIF program supports entrepreneurs with unique startup ideas with access to “income replacement” grants. This resource creates an opportunity for the entrepreneurs to pursue unique startup business ventures with the security of initial income replacement funding and guidance during the two-year ideation and formation period of their business. In addition to financial support, the NJIF Program will provide comprehensive mentorship training led by Princeton University for each entrepreneurial team. The 24-month mentorship program will provide expert guidance in various fields, conduct workshops, and offer networking opportunities with the University’s academic and industry partners.  

The AI-dedicated cohort of the program will focus on innovations utilizing technologies such as machine learning, autonomous decision-making, data-driven insights, natural language processing, computer vision, and generative AI. Grants of $200,000 are available, with bonuses of up to $200,000 if an entrepreneur resides in an Opportunity Zone, self-certifies as a woman or minority, or graduated from a New Jersey college or university. 

WHO: Eligible applicants must consist of a team of no less than three individuals and be working to launch an AI-driven business. For a full list of eligibility requirements, please click here. 

WHEN: Applications for the NJIF AI Cohort will open on Wednesday, June 18, 2025, at 10:00 a.m., and must be submitted by Wednesday, July 30, 2025, at 5:00 p.m.  

A Q&A period will be held from Thursday, May 29, 2025, at 10:00 a.m. through Tuesday, June 17, 2025, at 5:00 p.m. Questions concerning this Program’s Notice of Funding Availability should be submitted to njinnovationfellows@njeda.gov. 

About the NJEDA

The New Jersey Economic Development Authority (NJEDA) serves as the State’s principal agency for driving economic growth. The NJEDA is committed to making New Jersey a national model for inclusive and sustainable economic development by focusing on key strategies to help build strong and dynamic communities, create good jobs for New Jersey residents, and provide pathways to a stronger and fairer economy. Through partnerships with a diverse range of stakeholders, the NJEDA creates and implements initiatives to enhance the economic vitality and quality of life in the State and strengthen New Jersey’s long-term economic competitiveness.

To learn more about NJEDA resources for businesses, call NJEDA Customer Care at 844-965-1125 or visit https://www.njeda.gov and follow @NewJerseyEDA on Facebook, Twitter, Instagram, and LinkedIn