Audible recently added four new companies to its Newark, NJ-based Business Attraction Program. Launched in August 2023, the program is part of the company’s commitment to sustain business, attract foot traffic, and create jobs in the city.
The company wants to provide opportunities to business owners who are less likely to gain access to financial support and mentorship. With Black-owned companies receiving one percent of venture funding nationally, Audible encourages Black women business founders to apply for the program.
“Our Business Attraction Program is a scalable model to drive economic growth and can be adopted by other companies seeking to make a tangible impact in the cities they call home. Our startup support efforts are leading the way in the city’s revitalization by thoughtfully and equitably growing the tech ecosystem, elevating diverse founders, and supporting the local economy,”
said Aisha Glover, global head of urban innovation at Audible, in a press release.The Amazon subsidiary will provide $250,000 in non-dilutive grants per company, which will go toward office space, relocation assistance, as well as stipends for employees to live and shop locally. Business owners will also receive mentorship from Audible experts. Additionally, Audible is facilitating leasing opportunities in buildings around Newark’s Harriet Tubman Square, which include 33 Washington Street, 550 Broad Street, 494 Broad Street, 540 Broad Street, and 536 Broad Street.
Equal Space, one of the program’s newest participants, is a 50,000-square-foot shared office and event space that provides flexible workspaces, including daily passes, dedicated desks, and other amenities.
“After over 10 years building momentum and a powerful entrepreneur community in Newark, we recognize the opportune moment we’re in and the need for entrepreneurs to have a nurturing place to flourish and connect with other like-minded, emerging business leaders,”
Equal Space founder Citi Medina said.Other members of the program include tech-based companies pockstock, ABF Creative, Gymble, and Fitnescity. Food and entertainment companies include BLVD Bistro, an offspring of the famous Harlem-based soul food restaurant, and Newark Culture Club, a cocktail bar and entertainment venue.