Governor Phil Murphy

First Lady Tammy Murphy, NJEDA, and Golden Seeds Host Information Session Highlighting New Resources for Women-Led Businesses

10/2/2019

PRINCETON – First Lady Tammy Murphy today joined representatives from the New Jersey Economic Development Authority and Golden Seeds to host an information session at Drumthwacket highlighting the resources Golden Seeds offers both women-led businesses and the broader investment and entrepreneurial community in New Jersey. The event is part of the NJEDA’s collaboration with Golden Seeds that launched in July to support Governor Murphy’s goal of making New Jersey’s innovation ecosystem the most diverse in the nation.

“Establishing a Golden Seeds chapter in New Jersey is a critical step forward, both for supporting women in business and for driving economic growth,” said First Lady Tammy Snyder Murphy. “Studies show that companies with women in high-level management positions increase their margins and produce more patents than teams with solely male leaders, yet these women-led companies still struggle to find funding. Our collaboration with Golden Seeds to provide mentorship opportunities for women in business and connect angel investors with women-led companies will address this disparity, strengthen New Jersey’s innovation ecosystem, and drive long-term, sustainable economic growth.”

Founded in 2005, Golden Seeds is a nation-wide angel investor network dedicated to investing in women-led startup companies. The organization has more than 300 members that include accredited investors from a diverse range of locations, sectors, and backgrounds. The New Jersey chapter of the organization will be the seventh, joining established Golden Seeds chapters in Atlanta, Boston, Dallas, Houston, New York City, and Silicon Valley. 

“New Jersey’s highly-skilled workforce and impressive network of investors and entrepreneurs make it an ideal place for a new Golden Seeds chapter,” said Loretta McCarthy, Managing Partner at Golden Seeds. “We look forward to partnering with Governor Murphy, the First Lady, and the NJEDA to provide capital and mentoring that will allow women-led businesses in the Garden State to thrive.” 

The NJEDA’s partnership with Golden Seeds supports Governor Murphy’s efforts to create a diverse innovation ecosystem in New Jersey by increasing the availability of angel capital for women-led businesses and providing mentoring opportunities for women businesses leaders. It will also foster a strong, cohesive angel investing community in New Jersey by bringing members together to identify investment opportunities, conduct due diligence, and support companies in which they choose to invest. Today’s information session was the first step in spreading awareness about the resources and opportunities Golden Seeds offers.

Throughout the process of forming the New Jersey chapter of Golden Seeds,  the NJEDA will coordinate Golden Seeds’ leadership to reach out to potential members, host training sessions on a series of angel investing topics, and organize monthly office hours at sites around the state where female entrepreneurs will be able to get advice from investors. Once the chapter is established, the NJEDA will transition leadership to group members. Investors interested in getting more information about the NJ Chapter of Golden Seeds should contact GoldenSeeds@njeda.com.

“Expanding New Jersey’s home-grown innovation economy by connecting early-stage companies to resources and investors is the most effective path to long-term growth,” said NJEDA Chief Executive Officer Tim Sullivan. “Golden Seeds has a strong track record of success supporting women-led businesses, and the NJEDA is proud to work with them and the First Lady to fostering a more diverse, successful innovation ecosystem in the Garden State.” 

To read Governor Murphy's full economic plan, please visit: https://nj.gov/economicplan