N.J. Stat. Ann. § 18A:71B-108

5. The New Jersey ACES Program established pursuant to this act shall be funded equally by three sectors: the State of New Jersey; the participating public or independent research universities; and the State's private sector. The State shall fund one-third of the annual total program costs through appropriations, and the participating research universities shall fund one-third of the annual total program costs. The participating research universities shall be responsible for soliciting and securing the remaining one-third of program costs from the New Jersey private sector including corporations and companies representative of the STEM industry.