Newark Getting $50 Million Venture Fund, Tech Accelerator



Don Katz and Newark Mayor Ras Baraka | Courtesy TedxNavasink, Esther Surden
 
Announced today at a 1 PM press conference:
  • Newark is getting a new $50 Million social impact venture fund run by Newark Venture Partners (NVP).
  • This will be the first fund of its kind in the New York metropolitan area.
  • NVP will provide tech start-ups with capital, “company-building” services and residence in a 25,000 square foot state-of-the-art facility, featuring ultra-high-speed bandwidth to desktop.
  • The accelerator’s new space is now under construction in One Washington Park, the home of Audible.com. 
  • Rutgers Business School will be providing rent-free access to the technology facility.
  • Newark leaders unveiled Newark’s new Firebolt Wi-Fi, an outdoor, “lightning-fast” free public Wi-Fi network covering a two-linear-mile stretch of downtown Newark.
  • Don Katz, CEO of Audible.com is the Newark Venture Partners Chairman.
  • Running the fund will be  Tom Wisniewski, managing partner.

NJTechWeekly.com will have additional details when they are available.

Sharing is caring!

2118 More posts in News category
Recommended for you
Governor Phil Murphy attended a ribbon cutting of SOSV’s new HAX Newark Global HQ, Newark, NJ Tuesday April 30, 2024. (Rich Hundley III/ NJ Governor’s Office).
HAX, Supporting Innovative Hard-Tech Startups, Unveils Its Newark Headquarters to an Enthusiastic Crowd

By Rob Rinderman On May 1, a packed house of enthusiastic attendees — including some...