NJ A719

Secretary of Higher Education must establish the New Jersey STEM Entrepreneur Fellowship Program at county colleges and four-year institutions, in consultation with the Commissioner of Labor and Workforce Development and the NJ Economic Development Authority

Program will fund at least 20 fellowships for individuals with ideas to create, advance, or develop STEM products that benefit society and lead to self-sustaining businesses

Each fellowship lasts three years and focuses on helping entrepreneurs commercialize their ideas and develop well-structured businesses

Priority given to fellowship applicants who have support from State-backed incubators

Secretary must evaluate the program's effectiveness at establishing new businesses within five years of approving the first fellowship