Bill > S4253

Introduced Session

This bill establishes the "Artificial Intelligence Innovation Partnership," (partnership) to be administered by the New Jersey Commission on Science, Innovation and Technology (commission), which is to include one or more independent nonprofit organizations (partners) working to support emerging artificial intelligence (AI) technology businesses and to create collaborative innovation ecosystems across New Jersey. Under this bill, the goals and policies of the partners include: (1) identifying, developing, adapting, and implementing advanced technologies to enable the growth and competitiveness of emerging AI technology businesses through technology development, commercialization, and implementation; (2) acting as regional facilitators and managers for interactions, programs, and initiatives by and among the commission, emerging AI technology businesses, economic development organizations, the corporate community, private and public institutions of higher education, research institutions, government, organized labor, and other interests working collaboratively to advance the development of specialized innovation-based science and technology ecosystems in this State; (3) directly providing, and serving as the conduit to, early-stage and later-stage private and public capital for emerging AI technology businesses; (4) providing training or technical assistance to help emerging AI technology businesses apply to federal programs for the purpose of attracting federal investment funds to this State; (5) developing, providing, or supporting business incubation resources and spaces and facilitating the development of emerging AI technology business campuses, including discounted laboratory space to academic or executive emerging AI technology business spin-out companies; (6) coordinating marketing efforts concerning existing State and local financial and material resources for emerging AI technology businesses; (7) establishing and administering a research grant fund for the economic impact assessments of AI technology development projects conducted by private or public institutions of higher education that seek grant funding through the commission; (8) establishing partnerships to support and enhance the scale, scope, and impact of initiatives that support the purpose and mission of the commission and the partners; (9) encouraging the advancement, development, and support of underrepresented emerging AI technology businesses to expand diversity and opportunity within that sector, with priority given to emerging AI technology businesses that demonstrate diversity in ownership or leadership. The commission is to establish the exact geographical boundaries for the northern, central, southern, and shore regions of the State, and the partners are to be responsible for achieving specific goals in the respective regions. A nonprofit organization established as of the date of the bill's enactment and meeting one of the regional requirements may apply to the commission, in a form and manner determined by the commission, for certification as a partner. Once certified, a partner may apply to the commission, in a form and manner determined by the commission, to receive grant funds from the fund established pursuant to this bill. Upon receipt of a grant, a partner is to implement the terms of the grant agreement. Failure to comply with the grant agreement will result in the forfeiture of the grant. In selecting and certifying a nonprofit organization as a partner, the commission is to give priority to a nonprofit organization with diverse leadership and organized with at least one location in a municipality that meets the criteria for State aid pursuant to State law. If the commission is unable to certify a nonprofit organization as a partner for a certain region, the commission may establish and incorporate an independent nonprofit organization to serve as a partner for that particular region. In appointing the board for the nonprofit organization, the commission is to consider the ethnic, racial, and gender diversity of the community in which the partner is located. The commission may modify or revoke a partner's participation in the partnership if the commission determines the partner does not achieve the goals or does not implement the policies of this bill. Lastly, this bill directs partners to annually submit certain information to the commission and the commission to annually issue a report to the Governor and the Legislature describing the activities of the commission and each partner.

Committee Categories

Angela Mcknight (D)*,  Andrew Zwicker (D)*, 

Introduced in the Senate, Referred to Senate Economic Growth Committee (on 03/03/2025)

Official Document