NJ S3005

Establishes the "Business Accelerator and Incubator Network Grant Program" administered by the New Jersey Economic Development Authority to award grants to business accelerators or incubators supporting startup companies in the state

Eligible incubator businesses must operate in specified technology sectors including clean energy, life sciences, advanced materials, supply chain logistics, big data, defense/homeland security, or food and agriculture

Funds the program with up to $1,000,000 from societal benefits charges collected by the Board of Public Utilities, plus additional funds from other EDA business development programs and public/private sources

Requires grantees who fail to comply with grant agreements to repay the full grant amount plus a potential penalty of up to 10% of the grant

Mandates annual reporting to the Governor and Legislature on program applicants, approved recipients, grant amounts distributed, and types of incubator businesses served; the program expires six years after enactment