Technology (Emerging Technology)

This bill establishes the "Innovation Partnership" program, administered by New Jersey's Commission on Science, Innovation and Technology, to fund nonprofit organizations supporting emerging technology businesses. It directly affects minority-owned and women-owned tech companies (defined as businesses where 51%+ ownership and control is held by minorities or women) in fields like cybersecurity, biotechnology, renewable energy, and advanced computing. The program provides funding through a dedicated "Fund" to help these businesses develop new technologies, conduct pilot manufacturing, and commercialize innovations. Nonprofit "Innovation Partners" certified by the commission will identify and support qualifying businesses, aiming to strengthen New Jersey's tech ecosystem.