Build Your Business in Newark
Audible moved its headquarters to Newark in 2007 to be part of the comeback of a great American city. Recognizing that Newark is uniquely positioned to support business development, we’ve been investing heavily in growing the city’s innovation economy. Through our Business Attraction Program, we support select small businesses and startups looking to expand or relocate to Newark, by providing relocation assistance, capital toward office space, and stipends for employees to live and shop locally.
Support for Businesses
Small businesses and startups looking to relocate or expand in the City of Newark can apply for Audible’s Business Attraction Program to receive some or all of the following incentives. Companies with female founders or founders of color are particularly encouraged to apply.
Email NewarkSquared@audible.com to apply or learn more.
Work Local
Up to $250,000 in non-dilutive grants over two years for fit-out costs or rent/mortgage payments for businesses looking to expand or relocate to Newark. Additional funding may be provided to cover the cost of cloud computing for the first year.
Live Local
Live Local grant of $500/month (for up to 12 months) per full-time employee that relocates to the City of Newark as their primary residence (payable monthly via electronic transfers to individualized employee debit card).
Shop Local
Businesses can apply for Audible Bucks of up to $200 per month per full-time employee (payable monthly via electronic transfers to individualized employee debit card) for a period of three months. Cards can be used at designated local establishments.
Business Mentorship
Access to Audible employee expertise to assist with operations, finance, marketing or technology.
FAQs
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Newark is a growing tech capital, which Business Insider named among the top 10 best cities for computer programmers in the United States, based on cost of living and job opportunities. Companies locating themselves in Newark can plug into the city’s entrepreneurial community catalyzed by Newark Venture Partners (NVP), an early-stage venture capital fund founded by Audible founder Don Katz, that invests in B2B technology companies and enables startups to scale successfully. NVP has attracted companies from all over the world to Newark, including Aerofarms, 1Huddle, and MindRight Health. Global venture capital firm SOSV recently chose Newark for its new HAX hard tech accelerator and global headquarters because of its impressive innovation ecosystem. Newark is also one of America’s smart cities, with 26 miles of underground municipal dark fiber that delivers 10-gigabits-per-second speeds at prices far below those of other cities. The outdoor Wi-Fi network is one of the largest and fastest in the country, delivering 1 gigabit per second.
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It’s simple: we want you to join us in Newark’s growing innovation hub. We are looking for like-minded companies and startups to plant roots in Newark, and we’re offering incentives and support to help eligible companies make the city their home. Our goal is to help accelerate Newark’s revitalization by thoughtfully and equitably growing the tech and innovation ecosystem, creating new jobs and supporting the local economy.
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Companies that meet our eligibility criteria may apply for the Business Attraction Program. Companies must:
• Have at least 10 employees
• Be at the seed or Series A stage
Companies with female founders and founders of color are particularly encouraged to apply.
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Businesses selected by Audible to participate in the Business Attraction Program could be eligible to receive the Work Local, Live Local and Shop Local incentives described above under Supports for Businesses.
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Mentorship is a key component of the Business Attraction program and we’ll be offering support to help selected participants succeed and grow. You’ll be connected into an active and growing startup ecosystem that houses HAX Capital, Newark Venture Partners, NJII Venture Link, and the Black and Latino Angel Investment Fund. We’ll also be hosting tech events, investor meetups, recruiting drives and more to support your growth.
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Did you know that New Jersey has the highest concentration of scientists and engineers per square mile in the United States and ranks #1 for educating students at every level, according to U.S. News & World Report? The New York/New Jersey region is also the #2-ranked region for software and web developers and cybersecurity analysts. Rutgers University-Newark and New Jersey Institute of Technology (NJIT) produce a pipeline of specialized talent and offer significant industry partnership opportunities.
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Companies can email NewarkSquared@audible.com to apply for the Business Attraction Program or learn more.