Tuesday, May 6, 2014

Guadagno Visits TechLaunch, Boosts Small Business

New Jersey Lt. Governor Kim Guadagno today visited TechLaunch, New Jersey’s Premier Technology Accelerator, as part of her effort to celebrate the value of small businesses and the organizations that help them succeed.

“We applaud the efforts of TechLaunch. In addition to providing seed money, this small business accelerator offers critical support through mentoring and business training” said Lt. Governor Kim Guadagno. “These services create a strong foundation to help young companies build their businesses, succeed and create jobs. The Christie Administration supports the work of TechLaunch as they cultivate some of our brightest and most promising entrepreneurs.”

Every year since 1963, National Small Business Week has been celebrated to recognize the critical contributions of America’s small business owners. During the month of May, Lt. Governor Guadagno will be highlighting some of New Jersey’s exceptional small businesses and supporting organizations that are working to help our small business community flourish, advance innovation and create job opportunities for New Jersey’s citizens.

Created in 2012 and based in Clifton, TechLaunch is designed to drive the commercialization of emerging technology created by aspiring entrepreneurs. Since its inception the program has helped to launch 19 technology focused companies. The investor led technology accelerator provides a select group of emerging technology ventures with seed-stage funding, access to over 125 qualified mentors, business training, co-working space, key business services and exposure to investors, through a proven 16-week business boot camp program called LaunchPad. The program culminates on Demo Day with pitches to investors and demonstrations of the developed products.

TechLaunch is formed in collaboration with the NJ Economic Development Authority (EDA), Montclair State University, Casabona Ventures LLC, Jump Start NJ Angel Network and successful entrepreneurs.

During her visit, the Lt. Governor toured the TechLaunch facility and observed a weekly professional workshop where LaunchPad participants are instructed on key topics central to building a business from the ground. This week’s workshop dealt with the importance of establishing a business model.

“We’re basically at the half-way point in our 16-week LaunchPad bootcamp,” remarked TechLaunch Founder, Mario Casabona. “The Lt. Governor’s personal interest in our efforts to provide a kick-start to aspiring tech entrepreneurs speaks volumes about the State’s support of small business endeavors. We were honored to share our day with her.”

According to the U.S. Small Business Administration, more than half of Americans either own or work for a small business, and they create about two out of every three new jobs in the U.S. each year. In New Jersey there are 190,000 small business employers. These businesses represent 98.4 % of all employers and employ 50.2% of the private-sector labor force.

Businesses considering a move or in need of assistance are encouraged to call New Jersey's Business Action Center at (866) 534-7789 or visit the State's Business Portal at www.newjerseybusiness.gov.

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