Gerald Adams was born and raised in North Jersey and left college after one semester at Caldwell University. In 2012 he cofounded Elite Daily which he later sold for $50 million to the Daily Mail. Inspired by Tony Robbins' quote “success without fulfillment is the ultimate failure,” he started Fownders and modeled it after Silicon Valley incubators.
Fownders aims to help nurture entrepreneurs and ideas cultivate through his network and resources while cementing Newark as an innovation hub in the process. Using a 12-week-program called seed to scale that that puts emphasis on personal development, proper business practices, and civic improvement initiatives. The Fownders network of industry partners, mentors, global brand leaders, and investors gives entrepreneurs who are a part of their program the opportunities to transform their ideas into viable businesses. So far, eight startups have been through the accelerator including a VR company.
Fownders puts focus on the social impacts startups have on the local community. Adams sees entrepreneurship and developing close relationships as a way to help uplift the Newark community out of poverty.