Admission Critieria

In order for a company to be considered for tenancy at the Incubator, it must:

  1. Have been operating for less than 5 years.
  2. Be developing products or services for the Life Sciences industry.
  3. Be a "for-profit" enterprise
  4. Have had an in-person meeting with staff at the Incubator
  5. Submit a business plan or a business canvas model that clearly adresses the following, as well as other pertinent information: Target Market(s), Proprietary Product(s) and/or Service(s), Intellectual content of business, Strategic competitive advantage Market entry plan, Management team, Finances.

An application will require the following:

Agreement to the following requirements to obtain and to retain tenancy at the Incubator:

  • Submission of a business plan or a well-developed business canvas model.
  • An initial personal interview. Follow-up interviews or meetings may be required as conditions warrant.
  • Immediate notification by you to the Center Manager of any significant change in your corporate or personal status, redirection of your business goals and any other factors which may effect your success.
  • Annual submission to the Center of:
    • the number of full- and part-time paid jobs sustained by your company;
    • the amount of funds raised by your company, identifying sources and supported by reasonably requested documentation;
    • revenues and profits,
    • patents filed and issued,
    • new licensing agreements.
  • Other reasonably requested company financial information.
  • A meeting with the Incubator Advisory Board to review your progress when requested.;
  • A report to the Center annually for two years following graduation on the number of jobs your company is sustaining in the State of New Jersey and requested company financial information;

The purpose of these requirements are to:

  • Keep the Center Manager updated on your progress and any potential problems or needs;
  • To ensure that the Incubator Advisory Board is informed of your progress and able to offer advice and suggestions;
  • To impose, at an early stage, the necessary strategic planning and financial reporting disciplines required in the commercial world.

To complete an application to the Incubator you will need the following:

Attachments Required to be uploaded into the Application:

  • Business plan of business canvas model
  • Resumes of key company people
  • Current, dated capitalization table or current financial statement
  • Projected financial statements – current year, next two years

Information required to complete the application:

  • Names, Titles and Contact Information for all senior management
  • Business Structure Type, Date formed, and FEIN (or SS# if sole proprietorship)
  • NJ Registration Number (if you have one –you are required to obtain one prior to occupancy)
  • Current, Dated Capitalization Table
  • List of all cash and capital contributions to the firm by those identified in the capitalization table
  • List of all commercial loans and grants the firm has received or is applying for.
  • List of all other sources of funds to be used for ongoing business expenses
  • Company's most recent tax filing and/or a current financial statement.
  • Company's projected financial statements for the current year and the next two years.
  • Company's SWOT Discussion and Analysis
  • Areas in which management expects to request assistance during Incubator tenancy
  • Space desired
  • Business Bank Accounts (Bank name and address, and a Contact Person at the bank)
  • List of current creditors (Name of Creditor/Lender, type of investment/credit/loan and Dollar Value)
  • Prior business experience of principals
  • What you expect your company to 'look like' when you graduate from the Incubator

Required if application is accepted and prior to tenancy:

  • Compliance Documentation
    • Public Law 2005, Chapter 51/Executive Order 117
    • Public Law 2005, Chapter 271
    • Disclosure of Investment Agreement in IRAN
    • NJ Business Registration Certificate
  • Insurance Requirements for Leased Space

Required if tenant is applying for a Lab:

  • Chemical Hygiene Questionnaire