Since opening its doors in October 2018, Business Energy, a coworking and networking community, has had more than a dozen startup companies move to its site in Westfield.
The workspace has now added the New Jersey Economic Development Authority’s NJ Ignite Program to its roster of tools to attract more tenants.
The program offers rent support to startups moving into coworking facilities.
“Entrepreneurial talent is one of New Jersey’s most precious commodities, and collaborative workspaces like Business Energy offer environments where this talent can thrive,” NJEDA CEO Tim Sullivan said. “Through NJ Ignite, we are investing in founders, their startups and the future of New Jersey’s innovation ecosystem.”
Funding for NJ Ignite is provided by a combination of support from the NJEDA and the collaborative workspaces, with the NJEDA assuming up to six months’ rent and the workspace covering rent for half the length of NJEDA’s commitment.
“In the short time that Business Energy has been in Westfield, we’ve already created an atmosphere that brings together small business owners and entrepreneurs from within the community, and it created an environment for sharing, learning and inspiration,” Steve Silverman, partner at Business Energy, said. “We see NJ Ignite as instrumental to our continued growth and look forward to adding companies from new sectors to our community of entrepreneurs.”
Current tenants at Business Energy include a startup that helps people get organized, a technology company, a media services consulting firm, attorneys and several other businesses.
“Business Energy is a motivating place for local entrepreneurs to grow their businesses, right here in downtown Westfield,” Matt Jarecki, partner at Business Energy, said. “We’re so excited to support growing leaders to give them a place to focus, connect and thrive.”