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Under the proposed changes, venture capital firms and government-recognized startup accelerators will play a key role in assessing applicants’ business plans and issuing preliminary documents.
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Grants will be based off the closing documentation, such as HUD-1 statements, closing disclosures, or settlement statements (may be in the name of the applicant or real estate holding company associated with the applicant). This new program extends the power of the NJEDA to help small businesses grow and thrive in their communities.”
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While many organized interests contributed to this change in policy, in the book, Nicholas documents the venture capital industry’s central role among them. Innovation and entrepreneurship policy experts view the expansion of this program as a key lever for improving economicgrowth.
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