NJ A4590

Establishes the Supporting Educational and Entrepreneurial Development (S.E.E.D.) Program in the Office of the Secretary of Higher Education to fund original student-led projects, concepts, products, or companies through competitive grants

Creates a seven-member board to implement the program, including the Secretary of Higher Education, a NJ Business and Industry Association representative, and five public members appointed by legislative leaders and the Governor

Requires State appropriations to the S.E.E.D. Fund calculated at $2,500 per 500 full-time students and $2,500 per 1,000 part-time students at each public institution during the first three years

Establishes a competitive application process evaluating intellectual merit, feasibility, applicant qualifications, and project sustainability through future grants or revenue generation

Mandates a report to the Governor and Legislature four years after program establishment detailing applicant numbers, awards made, and grant outcomes