This bill establishes the New Jersey Emerging Business Advertising Grant Program, which is designed to support emerging businesses in the science and technology sectors by providing funds for advertising and marketing expenses. The bill defines an "emerging business in science and technology" as a company with fewer than 225 employees, with at least 75 percent of those employees working in New Jersey, and engaged in technology commercialization in specific industries such as advanced computing, biotechnology, and renewable energy technology. The New Jersey Economic Development Authority (EDA) is tasked with developing and administering this grant program, including determining eligibility criteria and grant amounts.

To qualify for the grant, applicants must be recognized as emerging businesses in science and technology and comply with any additional criteria set by the EDA. Grant recipients are required to submit an audited financial statement annually to ensure proper use of the funds and continued eligibility. If the EDA finds that a recipient has misused the grant, it has the authority to convert the grant into a loan. The bill mandates that the EDA adopt necessary rules and regulations to implement the program effectively.