Bill
Bill > A719
NJ A719
NJ A719Requires Secretary of Higher Education to establish New Jersey STEM Entrepreneur Fellowship Program to support entrepreneurs in STEM fields.
summary
Introduced
01/09/2024
01/09/2024
In Committee
01/09/2024
01/09/2024
Crossed Over
Passed
Dead
01/12/2026
01/12/2026
Introduced Session
2024-2025 Regular Session
Bill Summary
This bill requires the Secretary of Higher Education, in consultation with the Commissioner of Labor and Workforce Development and the New Jersey Economic Development Authority, to establish the New Jersey STEM Entrepreneur Fellowship Program in county colleges and four-year institutions of higher education to support entrepreneurs in the Science, Technology, Engineering and Mathematics (STEM) fields. Under the bill, the secretary will fund and administer no less than 20 fellowships. The fellowships may be provided to individuals who have proven to the secretary that they have an idea to create, advance or develop a product in the STEM field which will have a beneficial impact on society and will result in a self-sustaining business in the future. The fellowships will be issued for three years each and will be used primarily to support the entrepreneurs in commercializing the idea and developing a well-structured business.
AI Summary
This bill requires the Secretary of Higher Education, in consultation with the Commissioner of Labor and Workforce Development and the New Jersey Economic Development Authority, to establish the New Jersey STEM Entrepreneur Fellowship Program in county colleges and four-year institutions of higher education to support entrepreneurs in the Science, Technology, Engineering, and Mathematics (STEM) fields. The bill provides for at least 20 fellowships to be funded and administered by the secretary, which will be awarded to individuals with ideas to create, advance, or develop STEM products that will have a beneficial impact on society and result in a self-sustaining business. The fellowships will be issued for three years and primarily used to support the commercialization of ideas and the development of well-structured businesses, with priority given to those supported by a state-backed incubator. The secretary and the Economic Development Authority will also conduct an evaluation of the program's effectiveness in establishing new businesses within five years of the first fellowship approval.
Committee Categories
Education
Sponsors (1)
Last Action
Introduced, Referred to Assembly Higher Education Committee (on 01/09/2024)
Official Document
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.njleg.state.nj.us/bill-search/2024/A719 |
| BillText | https://pub.njleg.gov/Bills/2024/A1000/719_I1.HTM |
Loading...