HAX cuts ribbon on US headquarters in Newark (photos)

Officials recently gathered in Newark for a pivotal day in the state’s efforts to continue building its innovation economy. On Tuesday, HAX cut the ribbon on its United States flagship headquarters in Newark.

Princeton-based venture capital firm SOSV operates HAX. The startup development program targets pre-seed hard tech companies.

NJBIZ has extensively reported on the exciting project. Progress dates back over the last few years, since SOSV selected Newark for its base following a nationwide search. Ultimately, it signed a 10-year lease for the 35,000-square-foot space at 707 Broad St. An April 30 ribbon cutting unveiled the new office.

Over the next five years, SOSV has committed to invest $25 million a figure the New Jersey Economic Development Authority (NJEDA) has matched. During that time, HAX will take 100 companies through the program.

In addition to a $250,000 initial investment, HAX also provides other support for startups and entrepreneurs. That includes mentorship, 180 days of hands-on collaboration, and a global community for early-stage founders building hard tech startups with offices across the world.

The new facility features a slew of tools, workspaces and equipment, such as:

• chemical, mechanical and electrical engineering labs;



• 3D printing;



• manual metal fabrication;



• Computer Numerical Control machining;



• laser cutting; and more.

Newark has it all

HAX Managing Director and SOSV General Partner Duncan Turner spoke about the decision to come to Newark. He highlighted all of the city's assets.

“When we set out to find a new headquarters for HAX in the U.S., we were looking for an ecosystem that could be the birthplace of the re-industrialization of the U.S.,” said Turner. “We wanted world-class talent close to some of the largest industries in the world where we would have an industrial heritage and infrastructure ready to support our companies’ expansions.”

Turner stressed that Newark has it all.

“N.J. is committed to renewable power generation that will feed the grid for decades,” Turner continued. “We have some truly exceptional universities in the surrounding areas with academic departments that are developing IP and talent that will shape the world for generations to come. And we are a train ride away from two of the best sources of venture capital in the world. This really is a truly unique place.”

SOSV Managing General Partner Sean O’Sullivan credited the state for showing tremendous foresight when it decided to support HAX's Newark HQ.

“It is the perfect location not the least because SOSV with NJEDA’s backing, has been able to build an incredibly well-equipped and staffed facility that is attracting exactly the type of founder we want to back,” said O’Sullivan. “They hail from all over the country and the world, and from their perch here in Newark they have a great opportunity to take in all the immense possibilities and resources New Jersey has to offer.”

'A huge, huge deal'

Since May 2022, 32 HAX-supported startups have been operating out of a temporary Newark space.

Gov. Phil Murphy participated in the ribbon cutting. He delivered remarks expressing the importance of the project. Murphy notedthe SOSV/HAX folks could have chosen anywhere for this headquarters.

“The most important thing I want to say Sean and Duncan and colleagues could have planted the HAX flag literally anywhere in the world and they chose Newark, New Jersey,” said Murphy. “I think it is, among if not, the most significant win that we have had in my time in office. And Mayor [Ras Baraka, also on hand], I suspect yours as well. This is a huge, huge deal.”

Murphy stressed that one of the key priorities of his administration is expanding the state’s innovation economy by providing critical resources to entrepreneurs who want to bring their world-class ideas to New Jersey.

“HAX’s investment in Newark and New Jersey is a testament to the diverse talent pool the Garden State has to offer,” said Murphy. “From HAX to the Princeton AI Hub, to the HELIX and Edge Works , New Jersey’s innovation story is evolving and our investment in the field will lead to long-term, sustainable economic growth.”

Building momentum

“I’ve long disputed the idea that cities lack an appropriate workforce. What we lack is appropriate investment,” said Baraka. “HAX’s investment in Newark goes beyond being appropriate because it recognizes that innovation, creativity, collaboration and diligence are inscribed in our history and embedded in our DNA. With the opening of HAX, Newark accelerates its momentum as an emergent global hub for manufacturing and technological breakthroughs.”

NJEDA Chief Executive Officer Tim Sullivan reflected on getting to this point. He said HAX picks up all of the themes the Murphy administration has focused on.

“Innovation, clean energy, reshoring manufacturing. I think it also represents a real strategy not to just compete but win,” said Sullivan, recounting the process of competing to land this exciting project in Newark. “We knew this was the big one. This was a huge opportunity for New Jersey and for Newark.”

Sullivan said that Newark is an ideal location for entrepreneurs looking to collaborate, create and hone their skills in the climate tech, industrial automation and health care fields.

A SIC flagship

HAX will serve as New Jersey’s flagship Strategic Innovation Center. SIC facilities support research and development, innovation and entrepreneurship. That's achieved through mentorship, networking opportunities, hands-on training, business support services and education opportunities.

“Powered by NJEDA-initiatives such as the Strategic Innovation Centers program, accelerators such as HAX are helping empower New Jersey startups and revolutionize the global marketplace leading to diversity in the workplace and increased educational opportunities for the surrounding community,” said Sullivan. “When we invest in New Jersey’s innovation economy, we invest in entire communities, small businesses, and cutting-edge technologies.”

“This is a game-changer,” Murphy told reporters after the ribbon cutting. “This entity will birth a whole generation of companies that will employ folks from Jersey; folks who are residents who will live here; raise their families here; have their professional careers here.”

“This is a huge deal a huge day today for Newark and New Jersey,” Murphy added.

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