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Newark Demo Day, hosted by Audible, Newark Alliance, New Jersey Innovation Institute and Lair East ...
More Labs. When you think of Newark, what comes to mind? Often called the "Gateway City" for its role as a major transportation hub, Newark has a rich history as an industrial powerhouse. But like many cities, it’s faced its share of challenges, including a reputation tied to crime.
That image, however, hasn’t always reflected its potential. If you had asked a New York entrepreneur ten years ago whether they’d consider moving to Newark, the response would likely have been a firm "no." Many founders would rather squeeze into a tiny Brooklyn apartment with three roommates than cross the Hudson.
But that outdated bias is fading fast, as Newark quietly establishes itself as a rising tech hub on the East Coast. Newark’s tech revival isn’t just an idea — it’s already happening. Audible, the Amazon-owned audiobook giant, set up its headquarters here in 2007.
And they didn’t just bring jobs. They’ve been an active force in the city’s revitalization. Aisha Glover , Global Head of Urban Innovation at Audible, puts it like this: "Audible moved its headquarters to Newark in 2007 to help accelerate the city’s revitalization, and since then, we’ve been investing heavily to support a vibrant downtown neighborhood anchored by thriving local businesses, innovation, art, and cultural diversity.
We’ve launched several key initiatives to drive economic development, such as Newark Working Kitchens , which infused over $16 million into the local restaurant economy while fighting food insecurity, and our Business Attraction Program , which works to attract innovative and diverse companies to the city. Our investments create jobs, sustain businesses, and attract foot traffic, generating almost two billion dollars annually in economic activity." And then there’s Newark Venture Partners (NVP), a venture capital fund that Audible helped launch.
NVP supports early-stage startups with funding, mentorship, and office space, tapping into Newark’s growing infrastructure. They’re helping position the city as a strong player in the venture ecosystem. But it’s not just corporate giants driving Newark’s tech renaissance.
The New Jersey Innovation Institute (NJII) is also playing a key role. Founded in 2014 and fully owned by the New Jersey Institute of Technology (NJIT), NJII serves as a bridge between startups, academia, and industry, focusing on sectors like healthtech, cybersecurity, and fintech. According to NJII President Michael Johnson , the opportunities are only expanding: "From a sector standpoint, we see the most opportunity and traction in combining AI tools with industries that were historically tech laggards, like real estate and construction, as well as back-office functions [e.
g., accounting, legal, bookkeeping]. In particular, the healthcare industry is gaining significant traction.
" And this is true — when it comes to healthcare, AI-powered tools are transforming everything from diagnostics to operations. Johnson elaborates: "We lead initiatives that facilitate collaboration among health systems, researchers, and clinicians to promote the responsible adoption of AI solutions, ensuring that healthcare organizations can effectively leverage these innovations to improve patient outcomes and drive overall efficiency." In recent years, Newark Tech Week has emerged as a major contender to New York Tech Week, becoming a must-attend event that attracts founders and investors from New York, D.
C., Philly, and beyond. Venture firms like Vamos Ventures and BEA Fund have already established a presence, hosting office hours and engaging with the growing community.
With New York’s rent skyrocketing and VC funding becoming scarcer, more companies are exploring cities like Newark for space that’s close to the action without the astronomical costs. "With less VC and PE funding available, companies are seeking space in cities like Newark that offer proximity to New York without the sky-high costs," says Johnson. Audible’s Head of Economic Impact Ari Fox welcoming the crowd at Newark Demo Day.
Audible has played a major role in encouraging more founders to relocate and build in Newark through its Business Attraction Program, which Glover mentioned. The program provides up to $250,000 in non-dilutive grants, relocation assistance, and mentorship to startups and retail businesses. While this prestigious program is only offered to those that meet specific criteria, it prioritizes historically underrepresented founders, recognizing the persistent gap in venture funding for Black founders and women founders.
Glover shares how the program is already making a difference: "So far, over 20 companies have joined the program across the innovation, retail and entertainment sectors. We aim to leverage Newark’s unmatched data infrastructure, boost local spending to preserve and create jobs, increase commercial occupancy rates, and equitably grow the city’s tech ecosystem—while leading the way in Newark’s revitalization." New Jersey’s government is also backing innovation in a big way.
In 2021, Governor Phil Murphy launched the New Jersey Innovation Fellows Program (NJIF) through the New Jersey Economic Development Authority (NJEDA). Complementary to Audible’s Business Attraction Program , NJIF provides income replacement grants of up to $200,000 over two years for entrepreneurs starting businesses. There are even additional bonuses for founders from underrepresented backgrounds or those operating in New Jersey’s opportunity zones.
The goal? Reduce the financial risk of entrepreneurship and open up opportunities to a broader range of innovators. So, what’s on the horizon for Newark’s tech scene? NJII has big plans, starting with the launch of a new Venture Studio. Backed by an $11.
6 million investment from NJII and NJEDA, the studio is set to create up to ten companies over the next few years. "This initiative should create up to ten companies over 4–5 years and will help support an ecosystem of entrepreneurs," Johnson shares. Audible's vision for Newark’s future remains strong, as Glover emphasizes the company’s ongoing commitment: "We’ll continue investing in cutting-edge startups and small businesses, with an emphasis on women founders and founders of color who have historically faced barriers to growth.
Our vision is to establish Newark as a globally recognized destination for inclusive innovation, creativity, and entrepreneurship that is accessible and true to the rich heritage and legacy of the city. We’re not just helping to shape the story of one neighborhood—we’re redefining the role that corporations can play when they take an active role in their communities." For founders and investors willing to look beyond old stereotypes, Newark’s emerging tech scene offers some serious opportunities.
It's not hard to imagine that the next unicorn may not come from Silicon Valley or Manhattan — it could emerge right here in Newark. The question is: who will be the first to say, "I saw this coming"?.
