Hoboken, New Jersey, marked another milestone for innovation as the third cohort of NJ FAST—the New Jersey Fintech Accelerator at Stevens Institute of Technology—celebrated graduation on December 3, 2025. The event, held at Stevens’ campus, showcased thirteen startups delivering cutting-edge solutions in fintech, insurtech, and artificial intelligence, collectively raising $80 million during the program. Six of the graduating companies are based in New Jersey, demonstrating the state’s growing role as a hub for enterprise-ready technological innovation.

NJ FAST, a collaboration between the New Jersey Economic Development Authority (NJEDA), Plug and Play, and Stevens Institute of Technology, is designed to foster startup growth and accelerate commercialization of enterprise solutions. Prudential Financial serves as a founding corporate partner, providing mentorship, resources, and guidance to emerging companies, while Stevens offers academic and research support through its Strategic Innovation Center. The accelerator program aims to equip founders with the tools, networks, and strategic insight needed to scale their innovations efficiently.

The 2025 Batch 3 Expo offered attendees a chance to interact with the graduating teams and explore their enterprise-ready solutions. The cohort featured a diverse array of startups addressing challenges in finance, insurance, cybersecurity, and AI workflows. Notable companies included:

• Lazarus AI, developing advanced foundation models to integrate and analyze complex datasets.
• Spendly, a platform that helps businesses reduce operating costs without changing vendors, tripling its revenue during the 12-week program.
• Counter, a community-powered fintech platform providing early disability and wellness benefit payouts, led by Forbes 30 Under 30 founders.
• TodayPay, offering instant refund and insurance payout solutions.
• Thread AI, enabling companies to build and manage AI-powered workflows and agents.
• Picept AI, protecting businesses from costly AI-related vulnerabilities, and the first NJ FAST company founded by a Stevens PhD.
• Solvrays, streamlining insurance operations with AI workflows that reduce manual processes by up to 70%.
• FutureMoney, a fintech tool for goal-based investing for families and individuals.
• Manifest, simplifying and accelerating retirement account transfers.
• Structify, converting unstructured data into actionable datasets.
• Centraleyes, a cloud-based cybersecurity risk management platform automating collection, analysis, and remediation.
• Lyzr AI, a platform for reliable AI agent infrastructure backed by Plug and Play Series A funding.
• TruAgents, automating and personalizing customer communications across email, SMS, and calls.

Justin Murray from Plug and Play NJ highlighted the cohort’s exceptional performance: “The caliber of founders in NJ FAST’s third cohort was outstanding, particularly in fundraising and business development traction. These are high-quality, enterprise-ready solutions with deep expertise in fintech, insurtech, and AI.”

NJEDA Chief Executive Officer Tim Sullivan emphasized the state’s strategic investments in fostering innovation: “NJ FAST continues to solidify New Jersey’s position as a national leader in fintech and insurtech. By supporting cutting-edge startups, we are driving technological growth, creating jobs, and expanding the state’s innovation economy.”

With applications for NJ FAST Batch 4 closing at the end of 2025, the program continues to attract startups ready to scale their solutions. Beyond fintech and AI, Plug and Play is partnering with NJEDA and Rowan University to launch New Jersey’s 12th Strategic Innovation Center in Camden and Mullica Hill, focusing on medical technology innovations.

For those interested in tracking emerging trends, entrepreneurial success stories, and innovation-driven lifestyle opportunities across the state, our New Jersey Tech coverage provides in-depth reporting on startups, community initiatives, and programs shaping the Garden State’s future.