Angel Match Program
Rolling Application
Deadline:
Start Date:
Eligibility
- Must have minimum revenues of $100,000 within the trailing 12 months . Trailing 12 Months (TTM) figures report metrics based on the last 12 months (or four quarters) to date on a rolling basis.
- Business must be able to demonstrate a minimum of $100,000 in investment interest from at least two investors independent from the company
- Primary business is commercializing and marketing a product
- Early stage within an NJEDA targeted industry
- Structured as a C-Corporation or LLC
- Located in physical commercial, co-working, or incubator space in New Jersey
- A minimum of two full-time founders/C-level executives and 50% of full-time employees working in New Jersey
- No more than 100 total employees working for the company
- Company must be registered in New Jersey and in good standing as certified by a valid NJ Tax Clearance Certificate
Benefits
Businesses receive a convertible note from $100,000 to $500,000 with a 10-year maturity, a 3% interest rate, and no payments for the first seven years.