A23 Hardware Launchpad Initiative
Coming Soon... New Jersey's only hardware and semiconductor-focused lab & incubator.
Area23Labs Hardware Launchpad Initiative will be New Jersey’s only lab and incubator for founders building hardware and semiconductor-focused products, enabling the creation of transformative technologies that will power our products of tomorrow — including healthcare technology, consumer electronics, telecommunications, smart energy, connected transportation, and more. Funded in part by the State of New Jersey through their current grant programs, the A23 Hardware Launchpad will helps tech companies accelerate their time to market in a sector that normally incurs lengthy entry and scale times, enabling New Jersey hardware and semiconductor companies to grow and scale locally, and compete globally.
Highlights
Explore the Program
We understand that hardware founders experience unique challenges and have a finite amount of capital and time to bring their vision to reality. AREA 23 LABS Hardware Launchpad Initiative is a competitive program that is offered at no cost and with no equity requirement to eligible companies. Dedicated to supporting both silicon and hardware companies for up to 24 months, the Hardware Launchpad Initiative is enabling United States companies to grow and scale locally to compete globally.
The Hardware Launchpad Initiative provides direct resources to accelerate commercialization at scale through our initiatives focused on four pillars: raising capital, retaining talent, commercializing technology and IP, and customer acquisition. Our team of talented advisors and expert partner ecosystem will grow your business development and the Hardware Lab will incubate your hardware technology solutions.
What companies can expect:
- 24/7 access to the in-house prototyping & testing Hardware Lab with state-of-the-art specialized equipment
- Dedicated, in-house advisory team and mentors to work with the company to define tailored business milestones, and product development roadmap, and in supporting them with resource navigation and introductions
- Access to a world-class ecosystem of partners and highly experienced hardware and semiconductor development experts
- Specialized support for IP protection, market development, purchase and supply contracts
- Access to resources through the Capital Investment Program to identify potential public and private funding opportunities
- Access to Market Intelligence and premium reports from top-tier research firms
- Premium access to industry specific programming and exclusive partner 1-on-1s
- Free workspace (up to 2 badges per team) at AREA 23 LABS Innovation Space
- Access to AREA 23 LABS Innovation Alumni Network, which connects graduated AREA 23 LABS founders from across the tech ecosystem to resources, networks, and opportunities
- Present to industry audiences through AREA 23 LABS opportunities: showcases, Investment Cafés, and Demo Days.
Application Process:
- Step 1: Submit your application by March 6, 2024
- Step 2: A team of advisors and experts will review your application and reach out for further details, or conversations
- Step 3: After initial evaluation, AREA 23 LABS will invite founders to present to panel for further consideration
- Step 4: Panels will take place after the submission closure
- Step 5: All candidates will be notified of their status within 6 weeks of the submission closure date
- Step 6: Successful candidates will participate in a 2-month Hardware Launchpad Initiative Bootcamp where they will establish meaningful relationships with the AREA 23 LABS team and partners, as well as build the foundation for the program
- Step 7: AREA 23 LABS will endeavour to provide all applications recommendations for our portfolio of programs and services
APPLY HERE!
IMPORTANT DATES*
Applications are OPEN: 1 Feb, 2023
Applications CLOSED: 6 Mar, 2023
Review Period Starts: 7 Mar, 2023
Review Period Ends: 11 Apr, 2023
Bootcamp Starts: 27 Apr, 2023
Bootcamp Ends: 9 Jun, 2023
Upon the successful completion of Bootcamp, ventures will be assigned a dedicated lead advisor and invited to engage in the Hardware Launchpad Initiative, starting immediately after its conclusion.
*dates subject to change
If invited for Bootcamp participation, companies can expect:
The Hardware Launchpad Initiative begins with a Bootcamp, which will take place before formal program acceptance. The Bootcamp is intended to offer immediate value to a larger group of eligible companies, and allow for mutual assessment of fit before committing to the full program.
The objective of the Bootcamp is to engage participants in mapping out their expected client journey over the course of their participation with the Initiative to ensure alignment between the founders, AREA 23 LABS team, and partners. Expected outcomes include:
- Create early and meaningful connections with Hardware Launchpad Initiative Partners
- Comprehensive Project Plan Review
- 360 Deep Dives, i.e IP strategy, product development, go-to-market strategy, and financial considerations
- Relevant 1-on-1s with AREA 23 LABS team, mentors and/or partners
- Give founders a comprehensive understanding of the full breadth of resources and support available through the Hardware Launchpad Initiative, and how to access it
- Confirm founder commitment by involving them in self-assessment and planning workshops with deliverables specific for their ventures
The Bootcamp consists of five main modules which are hosted weekly for 1.5-3 hours. It concludes with an introduction presentation in a Partner Showcase (an opportunity to pitch to our partner network, make connections and receive helpful feedback)
Founder Expectations
As the Hardware Launchpad Initiative is a two-year intensive program all founders accepted into the program should expect to work with dedicated advisors and mentors to develop, review, and track:
- A detailed product design and development plan, including design and supply chain partners, and Prototyping & Testing Lab utilization
- A detailed IP identification and strategic protection plan
- A detailed customer engagement program with early adopters
- A detailed financial plan of revenue, expenditures and investment through the HCI program
- If applicable, a detailed talent acquisition plan, revenue growth plan, and ongoing development of your pitch and investor engagement
Apply to the Hardware Launchpad Initiative here.
Are you developing a hardware prototype and looking for convenient ways to test? AREA 23 LABS is now accepting subscriptions to its world class Prototype & Testing Lab! Run as many tests as you want any day of the week or year, our lab is open 24 hours a day, 365 days a year! Save money and time by subscribing to a fully-functioning lab environment right in Markham! If interested, please contact Benjamin Turofsky directly to learn more at Info@area23Labs.com
Eligibility
- Company was founded within 5 years immediately preceding the application
- Company earned less than $5M in revenue in last 12 months
- Directly involved in the development of a novel electronic product involving advanced elements such as a custom semiconductor, sensor, silicon-based IP or embedded system hardware
- Has customer engagement that validates the need and demonstrates that the team can attract and work with customers
- Company is incorporated in New Jersey
- Has a CRA business number
- Has 99 or fewer employees
- Has a co-founding team (of at least 2 or more) capable of product development, customer acquisition, and investment acquisition
- If located in New Jersey, but not in Somerset County, company has plans to establish a long-term presence in Somerset County
- If a United States Corporation, all IP developed through the program will be assigned to the Company.
- If a foreign-controlled company, a United States entity in the Tri State Area must be established prior to commencing the program, and all IP developed through the program must be assigned to the United State entity
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Companies in the Program
Partners
FAQ
We work with innovative growth and scale-stage companies, hardware/robotics, and lifescience companies with some market traction. Your company needs to be incorporated in New Jersey. Most importantly, you must be coachable!
Apply to work with AREA 23 LABS by filling in the form on our Apply page. Each year, we select over 100 ventures to join our diverse hub of founders. By working with AREA 23 LABS, you’ll gain access to our initiatives focused on four pillars critical for any scaling company: raising capital, talent retention, commercializing technology and IP, and customer acquisition.
We take no equity in your company. Founders join small cohort sizes — meaning you get tailored, dedicated guidance to navigate your unique business challenges. You’ll develop relationships in a growing global community of mentors, investors, partners, manufacturers, supply chains, and fellow entrepreneurs, critical to the growth and scaling of your business.