On Tuesday, the City of Hoboken was awarded a $100,000 innovation challenge grant from the New Jersey Economic Development Authority (NJEDA). The City, in partnership with Propelify, Stevens Institute of Technology, and the Hoboken Library will utilize the funds to create a co-working innovation center. Hoboken was one of only five communities in the State to be awarded funding through this grant.
“I’d like to thank Governor Murphy and the NJEDA for recognizing Hoboken for this important funding,” said Mayor Ravi S. Bhalla. “We are thrilled to partner with local groups including Propelify, Stevens Institute of Technology, and the Hoboken Library, and this grant will further solidify Hoboken as a leader in promoting innovation and technology in New Jersey.”
“The industry-specific knowledge that Propelify brings to the City of Hoboken’s Innovation Challenge partnership will be essential to developing a plan that ensures the most critical needs of Hoboken’s entrepreneurial community are addressed,” said NJEDA Chief Executive Officer Tim Sullivan. “This collaboration between local government, industry, and academia will help to position Hoboken to continue to attract up-and-coming companies and talent.”
As a part of the grant award, Hoboken, Stevens, the Hoboken Public Library and Propelify will launch a planning process for the creation of a co-working innovation center that will make the vital resources of space, mentorship, capital, and community available to innovative practitioners and entrepreneurs. The proposed innovation center will help support the incubation of Smart City small businesses in northern New Jersey.
The Innovation Challenge was created by the NJEDA to encourage municipalities and counties to advance plans to strengthen their local innovation ecosystems in collaboration with local higher educational institutions and other strategic partners.
For more information on Propelify and the technology community in Hoboken, click here.