NJ S3643

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 must fund a minimum of 20 fellowships for entrepreneurs developing products in Science, Technology, Engineering, and Mathematics fields that will benefit society and create self-sustaining businesses.

Each fellowship lasts three years and supports recipients in commercializing their ideas and developing structured businesses.

Priority for fellowships goes to applicants supported by State of New Jersey-backed incubators or incubators supported by public entities.

Program effectiveness evaluation required no later than five years after the first fellowship is approved.