New Jersey is leading the charge in promoting clean energy and sustainability through its Clean Tech R&D Voucher Program.
As attorneys committed to supporting clean tech ventures, Crowley Law is here to guide and assist clients in navigating this groundbreaking initiative. In this blog post, we will explore the program's details, outline its benefits and highlight how our experienced attorneys can provide invaluable assistance to applicants looking to maximize their chances of success.
What is the Clean Tech R&D Voucher Program?
The Clean Tech R&D Voucher Program, now in its second round, aims to fuel innovation and accelerate the development of clean technologies in New Jersey. Its focus is funding small businesses' access to research facilities in the State. Administered by the NJ Economic Development Authority, the program offers grants of up to $25,000 to eligible companies to use equipment and pay technicians at participating university and government labs and to train company personnel to be able to use the equipment themselves.
In addition to funding, successful applicants will also benefit from gaining access to New Jersey's network of renowned research institutions. This will help them in building collaborative relationships for knowledge exchange and business development. Receipt of a voucher also brings credibility and visibility to an enterprise. and These benefits to the applicants are in line with New Jersey's objectives to drive economic growth, create jobs and advance the State's clean energy goals.
Eligibility for the Voucher Program
Applicants need to meet a number of eligibility criteria in order to qualify for the program:
- Size –no more than 25 full-time employees.
- Location of the company – New Jersey companies with at least half of all full-time employees in New Jersey.
- Scope of research – Applicants must be engaged in the development or testing of clean technologies aimed at preventing the release of or capturing greenhouse gases and/or criteria pollutants or enabling such prevention or capture in specific target areas
- Partner facility –a New Jersey participating 2-year or 4-year college or university or a Federal lab or makerspace.
More specific eligibility information, as well as the application and a list of clean tech research facilities, can be found on the programs website, at https://www.njeda.gov/cleantechvoucher/.
How Crowley Law Can Help
Companies that are considering applying to New Jersey's Round 2 Clean Tech R&D Voucher Program may encounter several legal issues that require careful attention, both during the applicant and the research work. Here are some examples:
- Intellectual property protection: Safeguarding innovative clean tech solutions from unauthorized use or infringement is crucial. Applicants must navigate the complex landscape of intellectual property laws to ensure their ideas and inventions are adequately protected.
- Environmental regulatory compliance: Clean tech companies face a web of environmental laws and regulations.
- Contractual agreements: Collaborations with research institutions, partners or investors often involve the negotiation and drafting of complex agreements. Applicants must carefully consider the terms of licensing agreements, confidentiality agreements and research collaboration agreements, to protect their interests and mitigate potential disputes.
New Jersey's Round 2 Clean Tech R&D Voucher Program offers immense potential for clean tech innovators.
By partnering with Crowley Law, you can gain a valuable ally equipped with legal expertise to guide you through the program's intricacies. We are dedicated to helping you navigate the legal landscape, maximize your chances of success and protect your rights throughout the application and funding process.
Contact us today by phone at (844) 256-5891 to set up a complimentary conversation with a member of our team to embark on your clean tech journey with confidence.