HAX, One of NJEDA’s Strategic Innovation Centers, Ignites Tech-Based Economic Development

Back in 2018, Governor Phil Murphy set out to strengthen New Jersey as a home for breakthrough innovation by building new Strategic Innovation Centers (SIC), led by the New Jersey Economic Development Authority (NJEDA). Three years later, the NJEDA spotted an opportunity: an RFP from SOSV to select the global headquarters for its hard-tech program, HAX.

The NJEDA, in partnership with Choose New Jersey, responded with a $25 million equity investment, bringing HAX to Newark in 2024. In case you're unfamiliar, HAX backs founders tackling hard-tech, including industrial decarbonization, electrification, critical minerals, energy storage, manufacturing, robotics, advanced compute, plasma, and future fuels. They help founders rapidly prototype, de-risk technology, and achieve traction. In addition to up to $550,000 in pre-seed funding, the program provides founders with a six-month residency that includes on-site access to multiple labs, an extensive machine shop, and in-house technical experts. Read more about How HAX Helps Hard Tech Founders Rapidly Prototype, De-Risk Technology & Achieve Traction.

As of the end of Q3 2025, 58 companies have been through the program. Two examples:

• Princeton Critical Minerals is a spinout from Princeton University focused on revolutionizing lithium production. They joined HAX due to the team's experience with prototyping and manufacturing, including in-house engineers who accelerated the build out of the company's first lithium-extraction prototype. Since HAX invested in this company in 2023 as they were spinning out of Princeton, they have piloted their technology with customers in South America and raised a $3 million seed round.
• Still Bright, spinout from Columbia University, is using electrochemistry to purify copper in the U.S., replacing the smelting process, a toxic process common in China. They joined HAX in search of lab space equipped with enough fume hoods, bench space, and advanced analytics to enable scaling their copper production from grams to kilograms. HAX invested in Still Bright in 2022, and in 2025, the company raised an $18.5 million seed round.

There are now 12 SICs in their inaugural phase. According to the NJEDA, once fully operational they are expected to support 150-200 companies annually, generating an estimated 28,000 direct jobs, $17B in annual economic output, and $427M in annual tax revenue for New Jersey.

We're proud to say HAX has exemplified that growth and has had a profound impact on New Jersey's economy.