Audible.com steps up commitment to Newark startups, technology
NEWARK, N.J. — Audible.com is helping New Jersey officials to assist budding companies to succeed with a venture fund and technology.
The city recently launched the Newark Venture Partners, a $50 million early-stage social impact venture fund, the first of its kind in the New York metropolitan area.
“With a strong business base, highly educated residents, and a community that welcomes collaborative innovation, New Jersey truly stands out,” said Acting Gov. Kim Guadagno. “Thanks to Newark Venture Partners and the fastest public Wi-Fi network in the country, we mark another milestone in New Jersey’s technological growth. Newark is a perfect home for the tech companies – like Audible.com – that will shape our future, spur economic development and create new jobs for years to come.”
NVP’s early-stage investment fund will provide capital, company-building services, and mentoring from Audible.com executives, Rutgers Business School faculty, and leading investors, among others. Participating start-ups will also have access to a collaborative, state-of-the-art, 25,000-square-foot accelerator workspace.
“Audible.com moved to Newark in late 2007 to help accelerate the comeback of a great American city,” said Audible.com Founder and CEO Donald Katz, also the founder of Newark Venture Partners. “As the fastest-growing private employer in Newark, we have added hundreds of employees who are thriving in a city at an historic tipping point. Along with the Newark Venture Partners leadership team, we look forward to mentoring fellow entrepreneurs and their employees.”
Source: Gov. Chris Christie