Stephanie Macias

The EDC at NJIT, founded in 1988, is New Jersey's oldest technology oriented small business incubator. The program is committed to the long-term economic vitality and growth of entrepreneurial ventures in the State of New Jersey. The incubator exists to increase the rate of small business formations and to decrease the failure rate of start-ups. EDC addresses problems that young technology-based businesses have in obtaining appropriate technology, market information, management assistance and access to capital by providing, on a non-exclusive basis, reasonably priced office space, shared services to reduce overhead costs, and business, technical and financing assistance. The nearly 90 companies currently housed at the EDC have attracted more than $55 million in third-party funding and in 2007 had revenues surpassing $40 million. An EDC Administered Seed Fund available to clients to help support efforts critical to their commercialization needs including the creation of sales and marketing tools, the development and implementation of growth strategies and assistance with fundraising.