About UsNewark Business Hub

Expand & Fortify

Newark Business Hub, a Rutger Business School CUEED program, is a networked accelerator dedicated to empowering media and arts entrepreneurs that are focused on growing their business faster, better and stronger. Nestled in the historic progressive downtown area of Newark, our facility is an inspired innovation space for knowledge sharing, innovative thinking, strategic growth and collaborative learning. Our shared values, purpose and function will shape a media and arts business community of vibrant connections.

Our work expands the creative community’s contribution in Newark’s economy. Hub businesses are building new products and services and pursuing national and international partnerships. Rutgers Business School CUEED strives for real-life experiential learning for its students by coupling them with real professional media and arts entrepreneurs to establish sustainable solutions for success and longevity.

THE MOMENT
Newark is currently witnessing an extraordinary moment of organic entrepreneurial energy and ferment. The city boasts an ecosystem of scrappy and creative entrepreneurs manifesting their visions across a wide array of creative fields, and they’re doing so just as Newark has hit a critical inflection point in its growth. The goal of the hub program is to provide resources and coaching to those creative individuals at the tipping-point of their business success and, in so doing, marshal and multiply the economic reach of their contributions. These creatives are diverse individuals from both the city and the larger metro area who run innovative early-stage companies. But while they offer subject-area expertise, creative skill, and resourcefulness, the growth and viability of many of these startups is threatened by an uncoordinated business support ecosystem, and by a largely competitive ethos that stands in the way of potentially fruitful collaboration.
Compounding those threats, many of these same entrepreneurs are first-generation sole proprietors who have unique technical expertise, but lack formal education about how to rapidly grow a profitable business. And while a number of these startups have the potential to compete in national – and even international – markets, these fledgling firms instead survive job to job as freelancers, due in large part to a lack of access those markets, and to a dearth of state-of-the-art insight and resources. These deficits often render them unable to hire full-time staff; leave them struggling to sustain operations and meet customers’ needs; and consign them to marginal profitability – if they’re profitable at all.
But with access to the aforementioned resources, and with a formal support network to help them think critically how to become profitable, these businesses can achieve viability, get to sustainability, and become positioned for greater citywide and regional impact. To position these startups thusly, the hub program will offer access to business mentors; sponsors in media and arts professions; strategic professional services (i.e. accountants and lawyers); high-quality business planning services; consultation on marketing strategies; and expert advice on operating strategies that will help them achieve market differentiation, market awareness and penetration, operational efficiency and greater profitability.

Entrepreneur Education

  • Financing / Loans

  • Marketing: Bootstrap Marketing and Social Media

  • Pricing Strategy

  • Negotiation Skills

  • Strategic Planning for Growth

  • Collaboration in Business

  • Capital Sources

  • Working With a Virtual Team / Freelancers + Work for hires

  • Legal Issues – Intellectual Property, Licensing Agreements, Copyright, Publishing Rights

  • Global Markets

  • Technology Management

  • Operations Management

  • Procurement and Contracting

  • Credit Counseling

  • Forecasting / Projections

  • Business Taxes

  • Time Management

F.A.Q’s

1. What is the Newark Business Hub program?

The Newark Business Hub Program seeks to serve creative individuals at the tipping-point of their success (from both the city of Newark and the larger metro area) who run innovative early-stage companies. The Newark Business Hub offers executive education, support: mentorship, access to state of the art facilities, equipment and resources, signature entertainment events, social and networking opportunities, global contacts and networks, business planning, professional services, and access to student talent. The Hub Program will be led by Rutgers Center for Urban Entrepreneurship and Economic Development (“Rutgers CUEED”) and a highly engaged “brain trust” of local entrepreneurs.

2. Who should apply to be a Fellow in the Newark Business Hub?
  • Formally registered business

  • Operational for at least one year

  • Located and conducting business in New Jersey

  • Have key members of your team available to participate in person with program events, meetings and activities

  • Be seeking active collaboration with other entrepreneurs

3. What benefits will participating entrepreneurs receive?
  • Provide educational resources, inspiration and collaboration opportunities that will help creative individuals expand profitable businesses, create wealth and jobs.

  • Host signature entertainment events and social and business networking opportunities with noteworthy speakers and celebrities.

  • Facilitate access to: incubation, exhibition and performance space, innovative 3D printing, digital design and video recording equipment, and a first class portrait studio that will be located in the Rutgers University “Express Newark” space, at the newly redeveloped building that was the former Hahne’s department store.

  • Work with a team of entrepreneurs helping to write a business plan and ultimately own and operate a business incubator, social ventures and other revenue generating activities that will be located in Newark and connected internationally.

4. Is the Newark Business Hub an accelerator / incubator?

Not yet. The plan is to draft a plan, secure capital, identify real estate and open an accelerator focused on media, arts and other creative entrepreneurs.

Initially, the Newark Business Hub will focus on developing strategic relationships between with Newark Business Hub Fellows and Hub Program Participants, Rutgers University, Rutgers Business School, Corporate and Foundation Supporters, Private Investors, Banks and Celebrities. In addition the Newark Business Hub will provide business education and support services to creative entrepreneurs and facilitate professional networking and access to equipment and performance, exhibition and meeting space to help entrepreneurs grow profitable and sustainable business enterprises. Program participants will benefit by having links with Rutgers students who will learn about entrepreneurship and economic development – hands on through engaging in collaborative research projects.

5. How does the selection process work?
  • November 16: Applications available

  • December 18: Application deadline

  • December 21-23: Interviews of possible participants

  • January 5: Final selection of candidates made

  • January 6 -11: Send out notifications to participants

  • January 27: Program Start/Orientation

6. Where is the Newark Business Hub located?

Entrepreneurs can apply to become a Newark Business Hub Fellow by emailing an application to:

Center for Urban Entrepreneurship and Economic Development
Rutgers Business School
Attn: Jasmine Cordero
One Washington Park, Newark, NJ 07107.
jcordero@business.rutgers.edu

7. How does the Newark Business Hub fit into Rutgers Newark overall economic development strategy?

Rutgers has made a 15-year commitment to lease space in an iconic building – the former Hahne & Company department store, to create Express Newark. Express Newark will include a Community Media Center, Design Consortium, 3D printing studio, Community Portrait Studio, signature space for exhibitions and performances associated with Newark’s grand legacy in Jazz, and print and digital news outlet dedicated to all things Newark. Express Newark will also become the venue for Newark writing series and spoken-word events. Rutgers CUEED is the first center of its kind in the nation to integrate scholarly works with private industry, government and non-profit sectors to stimulate entrepreneurial and economic growth and vitality in urban environments. Rutgers CUEED promotes and fosters a new generation of entrepreneurs who actively seek to start and grow socially conscious ventures affecting urban renaissance. The Rutgers-Newark Chancellor’s Office has provided $100,000 of grant funding to seed the initial core programs of the Newark Business Hub.

Interested in Joining the hub?

Phone:
Fax:

Rutgers Business School, CUEED One Washington Park Newark, NJ 07102