Rutgers, the State University of New Jersey
The Center for Urban Entrepreneurship and Economic Development at Rutgers University (Rutgers CUEED) is a world-class research-driven, teaching and practitioner-oriented entrepreneurship and economic development institute, committed to: 1) catalyzing the economy of the City of Newark (NJ), and other urban centers; 2) creating wealth and jobs; and 3) being a model for all urban universities. Since 2009, Rutgers CUEED has worked across constituencies to create new knowledge, tools and vehicles that build diverse entrepreneurs and thriving urban communities. Rutgers CUEED formed the Black and Latino Angel Investment Fund of New Jersey (the “Angel Fund”) in 2019 and secured $500,000 in commitments from local private investors committed to working with Rutgers University to invest in tech startups and growth companies that are owned by people of color.
The Angel Fund exists to empower entrepreneurs, strengthen communities, invest in inclusive innovation and catalyze next economy growth. Rutgers CUEED will use the grant to scale and support critical functions of the Angel Fund. The B2S Capital Challenge will enable Rutgers CUEED to: 1) recruit additional private sector investors to expand access to early stage risk capital; 2) identify qualified deals and prepare entrepreneurs for investor presentations, 3) enhance investor knowledge, due diligence and legal counsel review, 4) facilitate co-investment and syndication opportunities with other angel investor funds; and 5) assist diverse entrepreneurs to get accepted into accelerator programs to attract additional private capital.