This bill mandates the New Jersey Economic Development Authority (EDA) to establish a needs-matching website aimed at connecting eligible entities with suppliers who can fulfill their requirements related to physical locations, equipment, labor, and other supplies pertinent to innovation projects. The website will serve various eligible entities, including businesses, medical institutions, research facilities, and higher education institutions, allowing them to create, post, and search for advertisements related to their needs. The EDA is tasked with collaborating with relevant stakeholders to develop this platform.

Additionally, the bill requires the EDA to maintain a list of public and private funding sources, including State and federal grant programs, that may be suitable for eligible entities. The EDA will also adopt necessary rules and regulations to implement the website effectively, taking into account the specific needs of the eligible entities it serves. The act is set to take effect immediately upon passage.