> FUNDING FOR "NJ BUSINESS BEAT" PROVIDED BY NEW JERSEY CHAMBER OF COMMERCE, WORKING TO KEEP NEW JERSEY IN BUSINESS.

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>>> THIS WEEK ON "NJ BUSINESS BEAT," WHERE SHOULD THE MONEY GO?

BUSINESS LEADERS URGE LAWMAKERS TO SEND INCOMING FEDERAL FUNDS TO SMALL BUSINESSES.

>>> PLUS, BETTER THAN EXPECTED, THE MURPHY ADMINISTRATION FACES CRITICISM AS REVENUE PROJECTIONS COME IN HIGHER THAN PREDICTED.

>>> AND INDUSTRY CHANGING IDEAS BORN IN NEW JERSEY.

WE'RE PUTTING INNOVATION IN FOCUS STARTING WITH HOW NEW JERSEY BACKS THE STATES BRIGHTEST ENTREPRENEURS.

THAT'S STRAIGHT AHEAD ON "NJ BUSINESS BEAT."

>> Announcer: THIS IS "NJ BUSINESS BEAT" WITH RICK SANTORUM.

.

>> THANKS FOR JOINING US ON "NJ BUSINESS BEAT."

IF YOU'RE WATCHING ON YOUTUBE, MAKE SURE YOU SUBSCRIBE TO YOUR NJ SPOTLIGHT NEWS CHANNEL TO GET ALERTED WHEN WE POST NEW EPISODES AND CLIPS.

>>> NEW JERSEY'S STATE TREASURE WAS IN THE HOT SEAT THIS WEEK AS THE BUDGET FOCUSED ON WHY NEW JERSEY SPENT BILLIONS WHILE OTHERS MADE THE CASE FOR PAYING DOWN STATE DEBT.

NEW JERSEY WILL SOON RECEIVE ANOTHER $6 BILLION IN FEDERAL COVID-19 RELIEF FUNDS AND THERE ARE LOTS OF VOICES CHIMING INON HOW TO SPEND IT.

REPRESENTATIVES FROM SOME OF THE BIG CHAMBERS OF COMMERCE AND LABOR GROUPS ARE UNITED IN THEIR CALL FOR DEBT REDUCTION.

BEYOND THAT, NJBIA PRESIDENT AND CEO MICHELLE TOLD ME IN AN INTERVIEW FOR NJ SPOTLIGHT NEWS THAT A BIG CHUNK OF FEDERAL FUNDS HAVE GOT TO GO TO LOCAL BUSINESSES.

THE NJBIA HAS PUT TOGETHER A LIST OF SUGGESTIONS ON HOW THE STATE SHOULD SPEND THE FEDERAL MONEY COMING OUR WAY.

QUITE A BIT YOU THINK SHOULD GO TO BUSINESSES, ABOUT 500 MILLION.

TELL ME ABOUT THE NEED WE'RE STILL SEEING.

>> WELL, THE NEED IN THE BUSINESS COMMUNITY CONTINUES TO BE EXTRAORDINARY AND TREMENDOUS.

WHAT WE ARE LOOKING FOR, RHONDA, IS GRANTS THAT WILL PROVIDE AN OPPORTUNITY FOR COMPREHENSIVE PLANNING FOR THE FUTURE BUSINESS MODEL FOR NEW JERSEY BUSINESSES.

SO THE STATE'S BEEN GREAT AT GIVING LIFELINES OVER THE LAST YEAR, GRANTS THAT CAN CARRY OUR PAYROLL, ANOTHER FEW WEEKS, ET CETERA.

THERE'S BEEN MONEY FOR TECHNOLOGY UPGRADES BUT WHAT WE'RE LOOKING FOR HERE IS GRANTS THAT WILL HELP CREATE THE BUSINESS MODEL OF THE FUTURE.

WHAT'S THE DELIVERY MECHANISM SYSTEM.

HOW DO WE INVEST IN OUR COMPANIES SO THEY CAN COME BACK STRONGER AND BETTER AND WITH STAND, GOD FOR BID, SOMETHING LIKE THIS IN THE FUTURE WHEN THEY CAN'T DELIVER BY BRICKS AND MORTAR AND NEED TO DO MORE DELIVERING.

>> IS THAT WHY YOU'RE LOOKING FOR FUNDING FOR THINGS LIKE WORK PLACE TRAINING AND INNOVATION?

>> ABSOLUTELY.

WHAT WE LEARNED OVER THE LAST YEAR, LOOK WE HAD A WORKFORCE CRISIS COMING INTO 2020, BUT WHAT THIS LAST YEAR SHOWED US IS THAT WE NEED TO BE ABLE TO, ON THE DIME, RESKILL AND UP SKILL OUR WORKERS SO THEY CAN PIVOT QUICKLY TO WHAT IS DEMANDED OF THEM, THE REMOTE WORLD ENVIRONMENT, TECHNOLOGY, WE LEARNED THAT WE CAN UPSKILL PEOPLE IN EIGHT WEEKS AND GET THEM TO PIVOT FROM HOW THEY WERE DOING THINGS BEFORE TO WHERE THEY ARE NOW.

THE IDEA OF CERTIFICATIONS, CREDENTIAL PROGRAMS THIS IS WHERE OUR FOCUS NEEDS TO BE SO IN THE SHORT TERM WE CAN UPSKILL QUICKLY WHILE AT THE SAME TIME CREATING THE PLAN WE NEED FOR LONG TERM DEVELOPMENT INITIATIVES.

>> YOU ALSO HAVE IDEAS ABOUT THE BUDGET.

FIRST OF ALL, PAYING DOWN SOME DEBT WAS ONE THOUGHT AND SETTING ASIDE MONEY FOR SURPLUS.

TELL ME MORE ABOUT THOSE IDEAS.

>> ABSOLUTELY.

YOU KNOW DEBT AFFECTS CREDIT RATING AND IMPACTS GENERATIONS TO COME.

I THINK EVERYBODY KNOWS WE WEREN'T PLEASED WITH OUR BORROWING LAST YEAR.

WE UNDERSTAND WHY GOVERNMENT FELT THE NEED TO GO THERE WITH THE CONCERN HOW REVENUES MIGHT PRODUCE IN A YEAR LIKE WE HAD.

WE LEARNED THAT REVENUES WERE PRODUCING AND NOW WE TOOK ON THAT $4 BILLION NEW DEBT LAST YEAR IN A WAY WE CAN'T PAY THAT BACK IMMEDIATELY IN THE SHORT TERM.

BUT WE HAVE OTHER LONG TERM DEBT THAT WE SHOULD START NOW TAKING DOWN WHILE WE HAVE THE OPPORTUNITY TO HAVE THIS EXTRA SURPLUS ON HAND.

THAT'S A RESPONSIBLE WAY TO SPEND OUR MONEY TO CREATE SUSTAINABILITY FOR THE STATE OF NEW JERSEY.

SO WE ARE REQUESTING RESERVING AT LEAST A THIRD OF THE FEDERAL FUNDS TO PUT IN A SPECIAL SHORT TERM SURPLUS IN ORDER TO DRAW DOWN OVER MULTIPLE BUDGET YEARS THE WAY WE CAN TO PAY OFF SOME OF THAT LONG-TERM BORROWING WE HAVE.

>> MICHELLE, GOOD TO TALK TO YOU.

THANK YOU.

>> THANKS SO MUCH, RHONDA.

>> THE NJBIA IS A FUNDER OF "NJ BUSINESS BEAT."

THE IDEA OF PAYING DOWN DEBT CAME UP DURING THE LEGISLATURE'S BUDGET HEARING THIS WEEK, LAWMAKERS GRILLED THE STATE TREASURE ABOUT NEW JERSEY'S DECISION TO BORROW $4 BILLION THIS YEAR, ESPECIALLY NOW THAT THE STATE IS PROJECTING A BUDGET SURPLUS.

ACCORDING TO THE NONPARTISAN OFFICE OF LEGISLATIVE SERVICES, THE STATE WILL SEE MORE THAN $428 MILLION IN ADDITIONAL REVENUE IN THE CURRENT FISCAL YEAR, BRINGING THE TOTAL TO 44.6 BILLION, WHICH INCLUDES THE BORROWED MONEY.

FOR THE NEXT FISCAL YEAR, THEY FORECAST THE STATE WILL COLLECT $125 MILLION MORE THAN WHAT THE MURPHY ADMINISTRATION PROJECTED.

BUT KEEP IN MIND, THE OLS FORECAST USED MORE RECENT DATA AND THE STATE TREASURER DEFENDED THE ADMINISTRATION'S DECISION TO BORROW BASED ON WHAT WAS KNOWN AT THE TIME, ESPECIALLY AS THE MONEY WAS BEING SPENT TO DEAL WITH THE COVID-19 PANDEMIC.

>> WE COULD NOT HAVE WAITED.

WE HAVE A CONSTITUTIONAL OBLIGATION TO PUT FORTH A BALANCED BUDGET.

AND THE APPROPRIATIONS ACT THAT THE LEGISLATURE PASSED AT THE TIME OF THE BUDGET APPROVAL INCLUDED DEPENDENCE UPON BORROWING IN ORDER TO HAVE THE APPROPRIATE RESOURCES TO MEET ALL THE SPENDING NEEDS.

SO WE COULD NOT HAVE WAITED TO SEE.

THE GOVERNOR HAS TO CERTIFY WHAT THE REVENUES ARE GOING TO BE AT THE TIME THE BUDGET IS PASSED.

SO YOU CAN'T SORT OF PUNT ON $4 BILLION IN SPEND AND WAIT A SEE WHAT MIGHT HAPPEN.

>> SINCE THEN REVENUES HAVE BOUNCED BACK, SO SHOULD THE STATE USE THE NEW FEDERAL MONEY COMING IN TO PAY DOWN SOME OF ITS DEBT?

SHE SAYS THAT IS ONE POTENTIAL OPTION UNDER REVIEW.

WHETHER IT'S IN HEALTH CARE, TECHNOLOGY OR OTHER INDUSTRIES, INNOVATION IS A BUZZWORD IN NEW JERSEY AND IT'S IN FOCUS FOR US THIS WEEK.

SO WHO ARE NEW JERSEY'S INNOVATORS?

WHAT IDEAS ARE THEY COMING UP WITH AND WHO'S BACKING THEM?

WE DECIDED TO TAKE A LOOK STARTING FIRST WITH THE NEW JERSEY INNOVATION INSTITUTE.

A NONPROFIT CORPORATION OF NJIT.

WE CAUGHT UP WITH THE INSTITUTE'S CEO AND ONE OF THE INSTITUTE'S SUCCESS STORIES, A COLLEGE STUDENT WHO CAME UP WITH AN INNOVATION THAT HAS FOREVER CHANGED RESTAURANT DINING.

>> SIMON, IT'S NICE TO TALK TO YOU.

I WANT TO START WITH YOU.

HOW WOULD YOU DESCRIBE THE STATE OF INNOVATION RIGHT NOW IN NEW JERSEY, ESPECIALLY AMONG OUR YOUNGER RESIDENTS?

>> SO I WOULD SAY THE STATE OF INNOVATION AT NEW JERSEY IS ALIVE AND WELL.

A LOT OF THE YOUNGER MEMBERS OF THE COMMUNITY HAVE BEEN IMPACTED BY COVID AS WELL BUT THEY'RE COMING BACK STRONGER THAN EVER BEFORE.

>> SAMIR YOU'RE A GREAT EXAMPLE OF ONE OF THOSE PEOPLE WHO'S AN INEVALUATOR, TELL US ABOUT YOUR COMPANY.

>> IT'S A GROUP OF BEST FRIENDS WE MET AT NJIT ITSELF AND WE WANTED TO DO SOMETHING BIGGER THAN OURSELF.

WE RAN ONE PREVIOUS VENTURE PRIOR TO THIS, AND WE ARE COLLECTIVELY SITTING IN A RESTAURANT, I BELIEVE IT WAS A MEXICAN PLACE, WAITING ABOUT 40 MINUTES FOR A CHECK TO COME AND WE WERE WONDERING WHAT'S HAPPENING.

THE WAITRESS HAD TO HANDLE AN 11 WAY SPLIT CHECK ACROSS FROM US.

AND WE WERE THINKING WE'RE TECH MAJORS, THERE HAS TO BE A WAY TO HELP THIS.

THAT WAS THE ORIGINAL GOAL, A USER COULD SIT DOWN, SCAN A CODE, ORDER AND PAY FOR THEIR FOOD.

THAT WAS THE ORIGINAL IDEA BUT WITH COVID, EVERYTHING NEEDED TO BECOME TOUCHLESS, THAT WAS A PIVOT POINT FOR US, SO BEING A BENEFIT IT BECAME A NECESSITY TO THE RESTAURANT SPACE.

WE USED IT IN OUR FAVOR AND WENT FROM THERE.

>> WHAT SORT OF RESOURCES DO YOU PROVIDE SOMEBODY LIKE SAMIR, AND HE JUST SPOKE ABOUT THE NEED TO PIVOT, WHICH HAS BEEN THE WHOLE THEME OF THE PANDEMIC, BUT HOW DO WE SEE IT ON THE INNOVATION SIDE OF THINGS?

>> THERE'S A LOT OF THINGS WE DO TOGETHER.

WHAT WE'RE TRYING TO DO HERE IS BUILD A COMMUNITY.

THE AWESOME THING FOR US IS THAT WE HAVE THE RESOURCES AT NJIT AS WELL AS THE STATE OF NEW JERSEY, THE STATE OF NEW JERSEY AND NJIT ARE FOCUSED ON DRIVING INNOVATION.

WE HAVE 100,000 PLUS SQUARE FOOT AREA HERE CALLED VENTURE LINK.

IF YOU'RE INTERESTED IN BUILDING A COMPANY THAT'S WHAT WE'RE HERE FOR.

WE HAVE GREAT RESOURCES AND THEY'RE AVAILABLE AT BELOW MARKET OR EVEN FREE.

>> HOW DID VENTURE LINK HELP YOU AND YOUR COMPANY, IN PARTICULAR, AND TELL ME WHERE YOU THINK YOU'RE GOING TO GO?

WHAT IS ON YOUR HORIZON NEXT WITH GROWING YOUR BUSINESS?

>> DEFINITELY.

SO IN THE VERY BEGINNING I BELIEVE UNDER SIMON AND BOTH WELLS GUIDANCE -- I BELIEVE WE WERE THE FIRST STUDENT BASED START UP IN VENTURE LINK AND FROM THE BEGINNING WE HAD WILL'S SUPPORT AND MENTORSHIP TO HELP GUIDE US THROUGH DIFFERENT THINGS WHEN IT CAME TO FUNDING, ADOPTING PRODUCT MARKET FIT, DOING THINGS THAT WILL HAD EXPERIENCE UNDER HIS BELT SO IT WAS A HELP TO US AS STUDENTS DOING IT FOR THE FIRST TIME, AT LEAST TO SCALE AND TRYING TO ATTACK IT.

WE HAVE TAKEN AN INVESTMENT WITH VILLAGE MOBILE AND WE HOPE TO INCREASE OUR TEAM.

>> YOU'RE STILL GOING TO SCHOOL?

>> YES.

DOUBLE MAJORING IN COMMUTER SCIENCE AND INFORMATION TECHNOLOGY AND RUNNING THE BUSINESS ALONGSIDE.

>> I'M EXHAUSTED THINKING ABOUT IT.

BUT KUDOS TO YOU IT'S IMPRESSIVE.

>> THANK YOU.

>> HOW MANY PEOPLE DO YOU SEE HELPING EACH YEAR AND IS NEW JERSEY REALLY BECOMING KIND OF AN INNOVATIVE CENTER?

>> I THINK WE'RE REALLY CATCHING UP IN NEW JERSEY.

WE WERE BEHIND AND THE GOVERNOR REALIZED THAT, AS WELL AS THE STATE AND THEY'RE CATCHING UP QUICKLY.

THE KEY IS A LOT OF PEOPLE WILLING.

BUT THERE WAS NOT A DRIVE.

YOU HAVE TO HAVE A COMMUNITY AND THAT'S WHAT WE'RE TRYING TO BUILD HERE.

NEWARK IS COMING BACK STRONG WE'RE PART OF IT, IT'S EXCITING TO BE HERE.

>> GREAT SPEAKING WITH BOTH OF YOU, APPRECIATE YOUR TIME.

>> THANK YOU VERY MUCH.

THANK YOU FOR HAVING US.

>>> NO DOUBT YOU'VE HEARD THE PHRASE INNOVATION ECONOMY.

GOVERNOR PHIL MURPHY LIKES TO TALK ABOUT THAT AS DOES HIS WIFE, FIRST LADY TAMMY MURPHY.

SHE LAUNCHED A CHAPTER OF GOLDEN SEEDS.

I SAT DOWN WITH THE FIRST LADY TO GET AN UPDATE ON HOW THE GROUP IS SUPPORTING NEW JERSEY'S FEMALE ENTREPRENEURS AND WHY INVESTING IN WOMEN HAS A PAYOFF.

WE WANT TO FOCUS ON GOLDEN SEEDS WITH YOU, SOMETHING NEAR AND DEAR TO YOUR HEART.

THERE'S AN IDEA ABOUT GOLDEN SEEDS THAT HAS BEEN PUT OUT THAT THE ORGANIZATION MAKES FOR A MORE EQUITABLE INNOVATION ECONOMY.

WHAT DOES THAT MEAN EXACTLY AND HOW DOES GOLDEN SEEDS DO THAT?

>> SO SPEAKING EXPLICITLY ABOUT BUSINESS.

I WANT TO TELL YOU, IT'S BEEN PROVEN TIME AND AGAIN THAT COMPANIES WITH THE HIGHEST REPRESENTATION OF WOMEN ON THEIR EXECUTIVE COMMITTEES PERFORM BETTER.

I THINK A STUDY SAYS THEY'RE 25% MORE LIKELY TO HAVE ABOVE AVERAGE FINANCIAL PERFORMANCE.

SO WE'LL START WITH THAT ONE, AND THAT, YOU KNOW, IT ALSO -- I'VE ALWAYS -- I ALSO KNOW THAT SHARE PRICES PURPORTEDLY GO UP 20% WHEN YOU HAVE JUST ONE WOMAN ON A BOARD.

AND YET, A BCG STUDY HAS SHOWN THAT WOMEN-LED COMPANIES GET 53% LESS INVESTED CAPITAL BY WAY OF THEIR MALE COMPANIES -- MALE OWNED AND OPERATED COMPANIES.

AND IT'S JUST -- IT MAKES NO SENSE.

I THINK WE ALL KNOW THAT WOMEN ORGANIZATION, WOMEN-LED COMPANIES NOT ONLY PERFORM BET E, THEY'RE MORE CREATIVE.

WE NEED TO THINK OUT OF THE BOX AND DO THE RIGHT THING FOR EVERYONE.

>> SO GOLDEN SEEDS FINANCES COMPANIES.

THERE WAS ONE NEW JERSEY COMPANY AND A CONNECTION MADE BETWEEN ANGEL INVESTORS AND THIS PARTICULAR WOMAN.

WE ACTUALLY SPOKE TO HER.

SO IT WAS VERY EXCITING THAT HER COMPANY GOT SOME MUCH NEEDED FUNDING.

ARE THERE MORE INVESTORS TO CONNECT WITH MORE FEMALE ENTREPRENEURS IN OUR STATE?

>> ABSOLUTELY.

IF YOU GIVE ME A SECOND.

WE COULD NOT LAUNCH THIS AT A WORSE TIME.

WE BROUGHT GOLDEN SEEDS TO NEW JERSEY IN FEBRUARY OF LAST YEAR.

WE WERE THE EIGHTH CHAPTER TO OPEN.

THE ONLY CHAPTER IN THE UNITED STATES THAT HAS A GOVERNMENT ENTITY THAT'S PROMOTING GOLDEN SEEDS.

AND OVER THE COURSE OF THE PANDEMIC, WE NOT ONLY INCREASED OUR MEMBERS TO -- BY 18, SO WE'RE NOW, WE HAVE 27 MEMBERS.

BUT WE HAVE SPOKEN TO 81 COMPANIES IN THE STATE OF NEW JERSEY.

AND OVER THE COURSE OF LAST YEAR, THE NEW JERSEY CHAPTER ALONE REPRESENTED ONE THIRD OF THE TOTAL INVESTMENT OF ALL GOLDEN SEEDS CHAPTERS ACROSS THE UNITED STATES AT NEARLY $3.5 MILLION.

SO THERE IS A LOT OF ACTIVITY IN NEW JERSEY.

AND YES, THERE'S A LOT OF INTEREST.

>> ONE THING ABOUT INVESTING IN AN ENTREPRENEUR OR A GREAT IDEA, AN INNOVATION, SOMETIMES YOU DON'T SEE AN IMMEDIATE RETURN ON INVESTMENT.

SO HOW DO YOU ANSWER QUESTIONS FROM PEOPLE WHO SAY, WHY PUT OUR RESOURCES, WHETHER IT'S PUBLIC OR PRIVATE, BEHIND INNOVATION AND IDEAS THAT MIGHT NOT MATERIALIZE RIGHT AWAY?

>> SO, YOU KNOW, PICKING UP ON WHAT I WAS SAYING JUST A MINUTE AGO ABOUT THE CONSULTING GROUP STUDY WHERE WOMEN-LED COMPANIES GET 53% LESS INVESTED CAPITAL, BUT WITHIN JUST TWO YEARS OF INVESTING IN WOMEN-OWNED COMPANIES, THEY GENERATE HIGHER REVENUES PER DOLLAR INVESTED THAN MALE COMPANIES.

SO THERE'S VERY LITTLE IN THIS WORLD THAT, YOU KNOW, YOU'RE GOING TO INVEST IN FIVE SECONDS FLAT YOU'RE GOING TO HAVE A RETURN.

SO I THINK IT'S ONE OF THESE THINGS WHERE NOT ONLY IS IT BETTER IF -- IT'S SMART FINANCIALLY.

BUT, YOU KNOW, AT THE END OF THE DAY, IT PUTS TOGETHER.

THIS NOTION OF GOLDEN SEEDS IT'S NOT ONLY ABOUT THE EQUITY PIECE BUT IT SPEAKS TO THE BROADER VALUE SET THAT PHIL, MY HUSBAND, THE GOVERNOR, HAS BROUGHT TO THE STATE AND THAT'S BEING MODELLED ACROSS THE ENTIRE ADMINISTRATION.

SO WE HAVE A LOT MORE TO DO AND WE'RE EXCITED, AND THANKS FOR GIVING ME THIS OPPORTUNITY TO HIGHLIGHT GOLDEN SEEDS.

>> ABSOLUTELY.

WE KNOW WE'LL HEAR MORE ABOUT THE ECONOMY.

>> THANKS, RHONDA.

BYE-BYE.

>>> TO BE A SUCCESSFUL ENTREPRENEUR THIS IS HOW IT GOES.

YOU NEED A GREAT IDEA.

YOU NEED TO FIND FUNDING TO GET YOUR IDEA OFF THE GROUND.

AND THEN YOU HAVE TO PUT ALL THE PIECES IN PLACE TO OPEN YOUR BUSINESS.

JESSICA GONZALEZ DID ALL OF THAT WITH HER NEWARK BASED COMPANY CALLED INCHARGE.

AND THEN COVID HIT.

SHE PICKS UP THE STORY FROM HERE.

SPOILER ALERT.

THERE'S A HAPPY ENDING.

JESSICA, YOUR COMPANY IS A GREAT EXAMPLE OF A BUSINESS THAT HAD TO PIVOT DURING COVID.

TELL US YOUR STORY.

>> YES.

ABSOLUTELY.

SO TEN YEARS AGO, SOLD EVERYTHING I HAD AND MOVED BACK HOME AND BUILD IN CHARGE, WHICH WAS A BRANDABLE CELL PHONE CHARGING KIOSK COMPANY.

WE DID GREAT FOR ABOUT TEN YEARS.

PUTTING CELL PHONE CHARGES KIOSKS IN THE LARGEST EVENTS AND THEN CREATED A VENDING MACHINE, WE GOT FUNDING, THINGS WERE ON THE UP AND UP, AND COVID HIT AND BROUGHT OUR EVENTS TECHNOLOGY BUSINESS TO ZERO.

IN THAT TIME WE WERE ABLE TO REFOCUS AND REBUILD A NEW BRAND AND A NEW COMPANY USING OUR BUILDING PRODUCTS, WHICH BECAME A DISINFECTION TECHNOLOGY COMPANY NOW.

>> YOU ARE OUT AND ABOUT PUTTING YOUR PRODUCTS IN AIRPORTS AND OTHER PLACES.

HOW'S THE BUSINESS GOING?

>> SO FORTUNATELY WE WERE ABLE TO GROW ABOUT 200% IN THE SIX MONTHS AFTER COVID STARTED, WHICH WAS GREAT.

AND WE'VE BEEN DOING AMAZING.

THE PIVOT HAS BEEN SUPER SUCCESSFUL AND WE'VE BEEN ABLE TO HELP PEOPLE AT THE SAME TIME AS HELPING OUR EMPLOYEES AND OUR BUSINESSES.

>> HAVE YOU HAD TO GET FUNDING FOR THIS PROCESS, AND WAS THAT DIFFICULT GIVEN WHAT'S HAPPENING WITH THE ECONOMY?

>> I -- SO I DID PARTICIPATE IN TWO ROUNDS OF PPP FUNDING, WHICH WAS TREMENDOUSLY HELPFUL.

I DID GET A GRAND FROM NJEDA, THERE WERE A LOT OF RESOURCES AVAILABLE AT FIRST TO HELP MY BUSINESS STAY AFLOAT AND THEN ALSO HELP ME PROPEL THIS PIVOT.

I EVEN TOOK OUT TWO SBA LOANS.

SO THESE RESOURCES DEFINITELY HELPED ME MOVE MY BUSINESS TO ANOTHER DIMENSION WHEN ALL ELSE FAILED.

SO DEFINITELY HAD RESOURCES AVAILABLE.

>> AND INITIALLY YOU STARTED OUT WITH VENTURE FUNDING.

WHAT TIPS WOULD YOU HAVE FOR OTHER ENTREPRENEURS IF THEY HAVE A GREAT IDEA AND HAVE TO PICK SOMEBODY FOR FUNDING?

>> WHAT I WOULD RECOMMEND FOR OTHER ENTREPRENEURS IS TO REALLY JUST PUT YOURSELF OUT THERE, BE PART OF AS MANY GROUPS AS POSSIBLE TO LEARN ABOUT DIFFERENT OPPORTUNITIES TO BE ABLE TO PITCH YOUR PRODUCT, AND KEEP KNOCKING ON THOSE DOORS.

I -- THE ONLY REASON I FEEL LIKE I GOT FUNDING WAS BECAUSE I -- EVEN THOUGH I WAS SCARED PRESENTING AND SWEATING BULLETS, I STILL GOT IN FRONT OF THEM AND PITCHED THEM ON MY IDEA.

AND KEPT GOING.

SO JUST GET IN FRONT OF AS MANY PEOPLE AS CAN YOU, AND HOPEFULLY SOMEBODY WILL FALL INTO YOUR VISION AND BE ABLE TO HELP FUND YOU.

>> JESSICA, YOU HAVE A LOT OF FUN VIDEOS ON YOUR YOUTUBE PAGE AND YOU GET THAT ENTREPRENEURIAL SPIRIT WHEN YOU LOOK AT SOME OF THEM AND THINK ABOUT YOUR COMPANY.

HOW IMPORTANT IS THAT CULTURE FOR STARTUPS LIKE YOURS?

>> YEAH, SO WE HAVE A -- ANYTHING'S POSSIBLE ATTITUDE AND MORE SO NOW THE FACT THAT OUR BUSINESS WASSO BLIF OBLIVIATED HAD TO BUILD ONE FROM SCRATCH.

SO BE FLUID AND PIVOT IN A DIFFERENT DIRECTION IF SOMETHING IS NOT WORK.

IT GOES FROM ME AND TRICKLES DOWN TO EVERYONE IN THE ORGANIZATION.

>> JESSICA, GREAT TALKING TO YOU, THANK YOU.

>> THANK YOU SO MUCH RHONDA.

>> THE PANDEMIC LED TO INNOVATIONS FROM OUR STATE GOVERNMENT THOSE EFFORTS WERE LED BY NEW JERSEY'S CHIEF INNOVATION OFFICER.

HER TEAM MADE IT EASY FOR US TO GET MUCH NEEDED INFORMATION ABOUT COVID-19.

BETH, THROUGH THE COVID-19 PANDEMIC, YOUR OFFICE REALLY TOOK SOME STEPS TO BRING INNOVATION TO STATE SERVICES FOR BUSINESSES AND OTHERS.

HOW DID YOU IMFLPLEMENT SOME OF THAT?

>> FIRST OF ALL, THANKS FOR HAVING ME.

I'M DELIGHTED TO BE HERE.

OBVIOUSLY DURING THE COVID-19 PANDEMIC WE HAD A TREMENDOUS URGENCY TO BE ABLE TO GET RELIABLE INFORMATION TO PEOPLE AT THEIR FINGER TIPS.

FOR EXAMPLE, WORKING WITH OUR COLLEAGUES AROUND THE STATE WE BUILT THE COVID-19 INFORMATION HUB, MANY OF YOU MAY HAVE BEEN THERE.

SO FIRST AND FOREMOST BOTH FOR BUSINESSES BUT ALSO FOR ALL CITIZENS, THE IDEA OF HAVING A CENTRAL, ONE STOP PLACE IN WHICH PEOPLE CAN GET THE INFORMATION THAT THEY NEED, WHETHER IT'S RULES AND REGULATIONS, WHETHER IT'S PUBLIC HEALTH INFORMATION OR GUIDANCE, WHETHER IT'S JUST ANSWERS TO THEIR QUESTIONS ABOUT HOW TO ACCESS STATE SERVICES, THAT WEBSITE HAS, SINCE THE PANDEMIC STARTED, BEEN ACCESSED OVER 66 MILLION TIMES.

WE'RE GETTING MORE THAN 2.5 MILLION SITE VISITS PER WEEK.

IF YOU THINK ABOUT THE SITE THE SIZE OF NEW JERSEY THAT SITE HAS SEEN CONSIDERABLE TRAFFIC NOT JUST FOR OUR OWN STATE BUT ALSO THE REGION BEYOND.

>> FOR ALL THE STEPS YOU'VE TAKEN DURGTD PANDEMIC AND THE WEBSITES YOU'VE CREATED.

WHAT DO WE TAKE FROM THIS PERIOD WHEN WE SEE THE ECONOMY GROWING AGAIN?

HOW DO THE INNOVATIONS TRANSFER INTO SOMETHING THAT'S LASTING AND SUSTAINING FOR NEW JERSEY?

>> THERE ARE A NUMBER OF RULES.

FIRST OF ALL WE ACCELERATED WHAT WE ALREADY STARTED AND HAD BEEN PLANNING TO DO, WHICH WAS TO MAKE THE DELIVERY OF STATE SERVICES EASIER, SIMPLER, MORE EFFICIENT FOR PEOPLE.

THAT INCLUDED ACCELERATING THE ROLLOUT OF THINGS LIKE LIVE CHAT TECH TECH NICK CAL ASSISTANCE.

I'M SURE DURING THE PANDEMIC SOMEONE TRIED TO CALL A GOVERNMENT OFFICE, WHETHER IT WAS THE 211 HOT LINE, UNEMPLOYMENT, TRYING TO FIGURE OUT HOW TO RENEW YOUR DRIVER'S LICENSE DURING THE PANDEMIC, PEOPLE NEEDED ANSWERS, THEY HAD QUESTIONS.

SO TO ALLEVIATE THAT LOAD OF JUST GIVING A PHONE LINE, WE ROLLED OUT LIVE CHAT.

FOR EXAMPLE FOR THE BUSINESS.NJ.GOV SITE WHEN THE PANDEMIC HIT WE ALLOWED YOU TO CONNECT WITH A LIVE REPRESENTATIVE BY TYPING INSTEAD OF JUST BY CALLING.

THAT PROVIDED AN EFFICIENT AND MORE EFFECTIVE WAY TO RAPIDLY ANSWER PEOPLE'S QUESTIONS.

THERE ARE THINGS LIKE ELIGIBILITY WIZARDS.

WE CREATED ONE FOR BUSINESS BUT THERE'S ALSO AN ELIGIBLE WIZARD THAT WAS CREATED, SOME MAY HAVE USED THE ONE THAT LABOR CREATED THAT YOU COULD USE TO DETERMINE YOUR ELIGIBILITY FOR UNEMPLOYMENT BENEFITS.

I THINK THE PANDEMIC HAS SHOWN US WE HAVE ONLY TO GO FORWARD IN TERMS OF OF ADOPTION OF NEW TECHNOLOGY, BETTER USES OF DATA AND THE CONVERSATIONS WE'VE BEEN HAVING WITH BUSINESSES AND INDIVIDUALS AROUND THE STATE TO DESIGN THE SERVICES.

WE'RE NOT MAKING UP WHAT WE THINK PEOPLE NEED AND WANT.

INSTEAD WE'RE TALKING TO PEOPLE AND ASKING THEM AND HEARING FROM BUSINESSES WHO STARTED THAT PROCESS SOME TIME AGO, HEARING FROM PEOPLE WHAT IT IS THEY NEED AND WANT FROM US AND WHAT WE CAN DO.

>> BETH, THANK YOU.

GREAT TO CATCH UP WITH YOU, APPRECIATE YOUR TIME.

>> RHONDA, THANK YOU FOR HAVING ME.

>> AND THAT WRAPS UP OUR SHOW FOR THIS WEEK.

THANK YOU FOR WATCHING.

AND ARE YOU A BUSINESS INTERESTED IN SPONSORING "NJ BUSINESS BEAT"?

CONTACT STEVE PRIOLO AT THE EMAIL OR PHONE NUMBER YOU SEE AT THE BOTTOM OF YOUR SCREEN.

I'M RHONDA SCHAFFLER WE'LL SEE YOU NEXT WEEK.

>> Announcer: FUNDING FOR "NJ BUSINESS BEAT" PROVIDED BY NEW JERSEY CHAMBER OF COMMERCE, WORKING TO KEEP NEW JERSEY IN BUSINESS.

ONLINE AT NJCHAMBER.COM.

CGI, A GLOBAL I.T.

AND BUSINESS CONSULTING SERVICES FIRM.

WE HAVE BEEN HELPING GOVERNMENTS AND PRIVATE SECTOR CLIENTS IN NEW JERSEY WITH THEIR EVOLVING TECHNOLOGY NEEDS FOR 30 YEARS.

LEARN MORE ABOUT OUR SERVICES AT CGI.COM.

NJBIA HAS BEEN THE VOICE OF BUSINESS FOR MORE THAN 110 YEARS AND IS BUILT TO SERVE OUR MEMBERS IN TODAY'S NEW NORMAL.

NJCU SCHOOL OF BUSINESS, OFFERING GAME CHANGING FORCES, WE'RE STEPS AWAY FROM THE EXCHANGE PLACE PATH TRAIN IN JERSEY CITY AND WALL STREET.

AND IBEW LOCAL 102, PROUDLY SERVING NEW JERSEY'S BUSINESS COMMUNITY SINCE 1900.

LOCAL 102, LIGHTING THE PATH, LEADING THE WAY.

VISIT IBEW102.ORG.

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