Newark Venture Partners, a $45 million fund created by top corporations based in the Newark area that are committed to supporting the growth of startups in the city, is accepting applications for Fall cohorts in its NVP Labs until Aug. 15.
The fall program starts Sept. 12.
NVP Labs is looking for B2B companies which have monthly recurring revenue of $10,000 to $40,000 and are in the following verticals: Future of work, HRTech, HealthTech, FinTech, Marketplaces or Voice.
Selected cohorts will be eligible for the following:
- Funding: $200,000 ($100,000 at start, minimum $100,000 for next raise);
- Follow-on funding: NVP Fund looks to double down with follow-on invest of $500,000 to $1 million for successful alums of the Labs;
- Sales/go-to-market help: Participants will have access to the Labs’ full-time, in-house, go-to-market program, working one-on-one with the founders to critically assess and improve all aspects of start-up marketing/sales;
- Mentorships: Participants will receive one-on-one mentorship as well as access to the NVP Labs’ network of more than 250 specialists;
- Strategy sessions: Participants will have weekly meetings with managing partners to discuss strategy, fundraising and introductions to relevant corporate partners;
- Space: Participants will get free coworking space — forever — in the Labs, an amenitized 25,000-square-foot floor in Audible headquarters in Newark.
To apply, click here.
Limited partners in the fund include Audible/Amazon, Panasonic, RWJBarnabas Health, Prudential Financial, Horizon Blue Cross Blue Shield, Dun & Bradstreet and TD Bank.
