New Jersey City University's Business Development Incubator

New Jersey City University is an urban university with an enrollment of about 10,000 students granting both technical and non-technical degrees in various fields.

Its Jersey City location is considered an excellent venue to house an incubator specializing in ICT and applying technology to the arts and entertainment industry as it is a fifteen minute subway ride from the theater and entertainment industry districts of Manhattan. Most students are commuters and many are employed full time.

It was felt that a business incubator might stimulate the growth of student-owned businesses, and serve the surrounding community as well. IPI was hired to conduct an incubator feasibility study and write a business plan for the facility. We were also instrumental in identifying federal funds that could be used in renovating the building, making the entire project financially feasible.

The building is a renovated former laundry that houses a charter school and black-box theater in addition to the incubator. The results of the study were favorable, the plan was adopted, and we then assisted in identifying and selecting a candidate to be manager of the facility.

Today the incubator has already graduated several tenants and is financially sustainable.  IPI's Jeff Milanette serves on the Board of Advisors.

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