NEWARK, NJ—A consortium of Newark-based businesses is launching an early stage investment fund to encourage technology startups to locate in New Jersey's largest city, and will provide a state-of-the-art workspace for the ventures to use.
Newark Venture Partners is being spearheaded by Audible founder and CEO Donald Katz, Prudential Financial Vice Chairman Mark Grier. The partnership will provide capital and sophisticated company-building services.
The centerpiece of the project will be collaborative state-of-the-art 25,000-square-foot accelerator workspace with lightning-fast Wi-Fi and ultra-high bandwidth access to the Internet for innovative tech start-ups. The accelerator's One Washington Park location, adjacent to Newark's Broad Street train station and just eighteen minutes by train from Manhattan, also houses the headquarters of Audible and its Newark-based employees as well as the Rutgers University Business School, which is providing rent-free access to the facility, now being readied for construction.
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