More than a dozen startup companies have moved to Business Energy since the coworking space opened its doors in October 2018. Now, thanks to the New Jersey Economic Development Authority’s (NJEDA’s) NJ Ignite program, the collaborative workspace in downtown Westfield has an added tool to attract even more companies.
NJ Ignite helps technology and life sciences startup companies realize the benefits of collaborative workspaces – incubators, accelerators, and coworking spaces – by providing up to nine months of rent support for startup technology and life sciences businesses that are moving to an approved collaborative workspace.
Business Energy is one of 16 collaborative workspaces currently approved to offer rent support through NJ Ignite. The program is made possible through a combination of support from the NJEDA and the collaborative workspace, with the NJEDA covering up to six months’ rent and the workspace covering rent for half the length of NJEDA’s commitment.
“Entrepreneurial talent is one of New Jersey’s most precious commodities and collaborative workspaces like Business Energy offer environments where this talent can thrive,” said NJEDA Chief Executive Officer Tim Sullivan. “Through NJ Ignite, we are investing in founders, their startups, and the future of New Jersey’s innovation ecosystem.”
Launched by partners Matt and Beth Jarecki, and Steve Silverman, Business Energy is a coworking and networking community for business professionals. Located on Lennox Avenue, Business Energy is steps away from Westfield’s train station, post office, and numerous shops and restaurants. The modern, bright, and newly-renovated space includes individual work stations, private offices, a professional conference room available with daily or monthly rates, and a venue for networking events and educational gatherings.
Current tenants include a startup that helps people get organized, as well as a technology company, a media services consulting firm, attorneys-at-law, and several other businesses. The team at Business Energy believes that participation in NJ Ignite will encourage technology and life sciences companies to consider moving to the coworking space.
“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 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.”
“Business Energy is a motivating place for local entrepreneurs to grow their businesses, right here in downtown Westfield,” said Matt Jarecki. “We’re so excited to support growing leaders to give them a place to focus, connect and thrive.”
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