New Jersey is putting new money behind artificial intelligence startups and launching a $20 million investment fund designed to give early-stage companies access to capital, mentorship and business support to grow in the Garden State.
The New Jersey Economic Development Authority, in partnership with AI infrastructure company CoreWeave, announced the creation of the NJ AI Hub Fund on Tuesday. The money will support startups connected to the state’s NJ AI Hub Strategic Innovation Center, which launched in 2023 at Princeton University and works to advance the ethical use of AI and support new technological developments throughout the state.
Gov. Phil Murphy said the initiative will help create jobs, strengthen local economies and bolster New Jersey’s reputation as a center for innovation.
Full story: New Jersey creates $20M fund to support AI startups | StateScoop
