OceanFirst Bank Grant Expands Kean’s Summer Innovation Accelerator for Student Entrepreneurs

July 9, 2026

Kean University is expanding opportunities for student entrepreneurs thanks to a $25,000 grant from OceanFirst Bank supporting the University’s Summer Innovation Accelerator, a six-week program that helps students turn promising ideas into viable businesses.

“OceanFirst has a longstanding commitment to strengthening the communities we serve by investing in education and economic opportunity,” said Steve Adamo, president, consumer banking at OceanFirst Bank. “Partnering with Kean University allows us to support the next generation of talent in New Jersey by connecting students with real-world experiences, mentorship and pathways into innovation-driven careers.”

Now entering its third year, the Summer Innovation Accelerator builds on the success of Kean’s annual Business Plan Competition, a signature entrepreneurship initiative that has empowered aspiring student innovators for more than 14 years. The competition features two tracks, Innovation & Technology and Community Impact, encouraging students to develop ventures that address technological challenges and community needs.

Students present their business idea at the April 15, 2026 Student Business Plan Competition.

The accelerator provides continued support after the competition concludes, helping students move from concept to implementation through mentorship, training and financial support. Participants meet weekly with faculty mentors throughout the summer as they refine their business models, identify growth opportunities and develop strategies for long-term success.

“The accelerator grew out of our desire to see actual business formation and long-term success from the ideas students were developing through the Business Plan Competition,” said Alex Rivera, director of Kean’s Center for Economic and Workforce Development, Social Entrepreneurship and Innovation. “We wanted to create a structure that would help students take the next step, whether that meant launching a business, reopening a family enterprise or bringing a new product or service to market.”

Rivera helped launch the Accelerator alongside Assistant Professor Saran Nurse, Ph.D., and Associate Professor Ipek Kocoglu, Ph.D. Since its launch, the program has helped several student teams launch or grow businesses, including Taste of the Caribbean in Newark and the relaunch of Der Wunder Weiner along the Jersey Shore.

“We’ve broadened entrepreneurship opportunities for students by supporting ventures that address real community needs,” Rivera said. “Many of our students want to create businesses that make a direct impact where they live and work. The Accelerator gives them the mentorship, resources and confidence to make those ideas a reality.”

This summer’s participants will each receive a $2,000 stipend to support the development of their ventures during the six-week program. An additional $1,000 award will be presented to the student team demonstrating the greatest progress during that time.

OceanFirst Bank’s investment will enable Kean to support more student venture teams, strengthen mentorship opportunities and provide aspiring entrepreneurs across New Jersey with additional resources to launch and grow their businesses.

“The experience is extremely valuable because it exposes students to the full lifecycle of innovation, from ideation to execution,” Adamo said. “Programs like the Summer Innovation Accelerator give students hands-on experience solving real-world problems, developing business plans, and working collaboratively in a dynamic, entrepreneurial environment.”

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May 2021

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OceanFirst Bank Grant Expands Kean’s Summer Innovation Accelerator for Student Entrepreneurs

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