Description

Job Summary

EDA Overview

Join the NJEDA and help lead New Jersey to sustainable economic growth, fostering equitable opportunities and vibrant communities. We offer hybrid work, a supportive culture, and robust benefits, including health insurance, retirement plans, and extensive wellness programs. Make a tangible impact and shape New Jersey's future with innovative economic development at NJEDA.

Job Overview

• Manage a suite of active venture capital programs. Programs include but are not limited to NJ Innovation Evergreen Fund (direct co-investment platform), New Jersey Founders and Funders (a periodic innovation ecosystem building event). This responsibility also includes making changes to programs or designing new programs from time to time. This includes active interaction with both VC fund managers and portfolio companies.
• Manage the Venture department's active external outreach and relationship building. This includes attending external events and webinars and presenting the NJEDA's programmatic offerings, also building closer relationships with the states Strategic Innovation Centers as these centers become more active and start to generate an increasing number of startups.
• Manage and provide guidance, mentorship, and developmental opportunities to the Venture department staff. Ensure continuity / backup in program staffing.

$126,400 - $134,300

Note: The NJEDA currently offers a hybrid work schedule for up to 2 days of telecommute work from home. To participate, you will be required to have high speed home internet access and a managers approval. This program does not supersede the "New Jersey First Act", which requires newly hired NJEDA employees to establish and then maintain, principal residence in the State of New Jersey.

Duties

Daily Tasks and Responsibilities:

• As the driving force behind NJEDA's capital investment programs, the Director Venture Products plays a pivotal role in spearheading efforts to bolster the innovation economy. Responsibilities include (but are not limited to):
  • Leading a dynamic team in executing initiatives that advance New Jersey's economic growth agenda.
  • Providing expert guidance on venture capital and angel investor programs, offering strategic counsel to executive leadership and stakeholders on capital market dynamics.
  • Acting as a liaison with investment panels, maintaining up-to-date knowledge of industry trends and competitor strategies.
  • Shaping and leading the Authority's policy, advocacy and program management efforts related to all capital investment programs including venture capital and angel investing.

Projects:

• Execute and expand the existing portfolio of capital investment products to increase funding available to New Jersey businesses.
• Oversee the administration of angel and VC capital programs, ensuring they align with state goals.
• Lead the creation and implementation of innovative programs to enhance New Jersey's economic growth through strategic capital investment.
• Conduct research and analysis to inform and refine program strategies and decision-making processes.

Goals and Objectives:

• Effectively lead and manage a team to implement initiatives that drive New Jersey's economic growth.
• Enhance the capital investment portfolio to increase funding for New Jersey businesses.
  • Key Performance Metrics (KPIs):

1. 1. 1. Grow available capital for businesses year-over-year
      2. Return on investment (ROI) and success rate of funded ventures.

• Ensure angel and VC capital programs are effectively administered and aligned with state goals.
  • KPIs:

1. 1. 1. Administration Timeliness
      2. Program Satisfaction, including feedback from participants and beneficiaries of the capital programs.

• Develop and implement innovative programs to propel New Jersey's innovation landscape and economic development.
  • KPIs:

1. 1. 1. Program Development, including number of new programs developed and launched annually.
      2. Program Effectiveness: Evaluation scores of new programs based on pre-defined criteria (e.g., impact on innovation, business growth).
      3. Industry Engagement: Level of engagement with industry trends and competitor strategies, as demonstrated by participation in relevant forums and panels.

Collaboration and Cross-Divisional Interaction:

• Regularly communicate industry insights to internal and external stakeholders:
  • Foster robust relationships with private sector entities, government agencies, and academia.
  • Collaborate cross-organizational to ensure effective communication of initiatives and messaging.
• Work closely with legal and strategic affairs teams to evaluate program performance and compliance.
• Represent the organization at relevant industry forums and boards.

Reporting Structure:

• Reports to the Managing Director Strategic Initiatives & Venture Products
• This role will oversee the Venture Products team and will provide direction, mentorship, and performance oversight to ensure team effectiveness.
• Ability to prioritize workload, must be highly organized, detail-oriented, handle various tasks simultaneously and work independently within limited time constraints with little or no supervision.
• Performs other duties and special projects, as assigned.

Skills and Qualifications

Technical Skills:

• Thorough knowledge of venture capital/alternatives fund investment and management.
• Deep experience in fund governance and advisory board level oversight to monitor investments.
• Exceptional analytical skills with a keen focus on details; ability to create presentations to depict data in a clean, intelligible way for executive leadership.

Soft Skills:

• Exceptional interpersonal and presentation skills and the ability to effectively interface with a broad range of audiences including senior management, business and industry partners, as well as individual customers and prospects. strong preference for individuals who have an existing network within the industry both in New Jersey and nationally.
• Demonstrated ability to lead and motivate a team of senior professionals through complex challenges, ensuring effective planning, execution, and a strong focus on results.
• Ability to communicate effectively both verbally and in writing; proficient in grammar, spelling, and editing and foster communications with business professionals and EDA staff.
• EDA Leadership Profile
  • Talent Management: Acquires, develops, and manages high-performing teams.
  • Cross-Functional Collaboration: Partners effectively across boundaries and functions.
  • Vision-Driven Results: Drives a clear vision and strategic thinking for achieving results.
  • Innovation and Change: Encourages new ideas, opportunities for change, and motivates team members.

Experience:

• 10+ years of practical business experience in a capital-intensive industry or similar role, with significant exposure and credibility, and a minimum of seven years in a client-oriented environment requiring the development and engagement of a broad professional network.
• Minimum of five years management/supervisory experience.
• Extensive experience in program and public policy development, along with a strong understanding of basic financial principles and the investment and capital markets industry. Proven expertise in advising new and emerging businesses on capital raising, including angel and VC investments, with a demonstrated ability to analyze and understand emerging business models.
• Advanced degree or industry specific certification may be substituted for 1 year of experience

Education:

• Bachelor's Degree, preferably in a relevant field such as business, investment or finance

Software/Tools Proficiency:

• Proficiency in Microsoft Office Suite, particularly MS Excel, and the ability to learn new software packages.
• NJEDA utilizes Microsoft as the core application platform and proficiency in the Microsoft Office Suite is preferred.

Additional Information

• Minimal physical demands and ability to work out normal business hours
• Travel expected when necessary for business operations

Certificates and Licenses Required

• Staff are required to possess a driver's license valid in New Jersey only if the operation of a vehicle, rather than employee mobility, is necessary to perform the essentials duties of the position.

Note

The examples of work for this title are for illustrative purposes only. A particular position using this title may not perform all duties listed in this job description. Conversely, all duties performed on the job may not be listed. This job description is intended to convey information essential to understanding the scope, general nature and level of work performed by job holders within this job. This job description is not intended to be an exhaustive list of qualifications, skills, efforts, duties, responsibilities or working conditions associated with the position.

Your employment at NJEDA is voluntary and subject to termination by you or NJEDA at will, with or without cause, or with or without notice, at any time. Nothing in this job description shall be interpreted to conflict, eliminate or modify the employment-at-will status of NJEDA employees.

This position is considered exempt and is excluded from minimum wage, overtime regulations, and other rights and protections afforded nonexempt workers under the FLSA.

NJEDA reserves the right to amend/revise this job description as necessary to meet current and changing business needs.

NJ SAME Program

In accordance with P.L. 2021, c. 465 and P.L. 2021, 466, the SAME program was established to enable New Jersey State agencies to hire, promote, retain, and advance qualified individuals whose physical or mental impairments impact their abilities to participate in the hiring and promotion process for non-competitive and unclassified titles within the State workforce.

The SAME program allows candidates, who identify as having a significant disability, to apply for non-competitive and unclassified positions through a fast track hiring process. This program uses a fast-track process that permits people who are eligible for the program to request that the State appointing authority schedule with them a good faith interview. For more information about the SAME program and the Fast Track Hiring program, please Click Here. If you have any questions, please email, or call the contact as indicated on the job vacancy announcement.

This posting open to eligible applicants regardless of SAME eligibility.

Equal Opportunity Employer

Position Requirements

• Foreign degrees/transcripts must be evaluated by a reputable evaluation service at your own expense and must be submitted prior to a start date. If this cannot be provided within 21 days of an offer the offer will be rescinded.
• Must comply with the "New Jersey First Act" which requires employees hired after September 1, 2011, to reside in New Jersey. Non-New Jersey resident employees must relocate to New Jersey within one year of their date of hire and provide proof of residency to Human Resources.
• Must complete an Outside Activity Questionnaire (disclosure of outside office or employment) on an annual basis.
• Must review the required NJ State Ethics Guidelines found on the state website.
• Selected candidates must be authorized to work in the United States per the Department of Homeland Security, United States Citizenship and Immigration Services regulations. Note: The State of New Jersey does not provide sponsorship for citizenship to the United States.

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