indica News Bureau-
NASSCOM, or the National Association of Software and Services Companies, signed a memorandum of understanding (MoU) Monday with VentureLink@NJIT and Choose New Jersey to promote trade through innovation, investments and technology partnerships.
NASSCOM is India’s premier trade body and the chamber of commerce for the information technology industry and comprises over 2,800 member companies, including multinational corporations.
The MoU aims to facilitate partnerships between New Jersey and India, promote technology-based foreign direct investment between the regions, and amplify the competitiveness of companies operating in both geographies.
The MoU was signed by Shivendra Singh for NASSCOM, Jose Lozano for Choose New Jersey and Simon Nynens for NJIT in New Delhi.
VentureLink is a community hub for tech companies at the New Jersey Institute of Technology for Northern New Jersey and operates within the NJIT campus, providing in-residence startup and established tech companies with weekly programming, workspace and mentorship.
Choose New Jersey, founded in 2010, is an economic development organization set up to nurture economic growth throughout New Jersey, with a focus on urban centers.
The partnership with NASSCOM, labeled ‘NASSCOM Launchpad’, will create a 90-day complimentary ‘soft-landing space’ to use as a base in New Jersey to promote business opportunities for NASSCOM member companies. This will include a supporting ecosystem for enhancing flow of insights and developments on technology, innovation, investments, regulations and information from their
The partnership will also facilitate business partner matchmaking and assistance with introductions to prospective clients and collaborative opportunities for member companies of all parties.
NASSCOM members will be made aware of strategic advantages, government policies and initiatives in New Jersey for collaborative opportunities. The association will offer reciprocal services about the Indian IT industry scenario to VentureLink@NJIT members.
Debjani Ghosh, NASSCOM president, said, “This is yet another milestone partnership for NASSCOM that will act as a prominent catalyst for the global expansion of Indian IT companies.
“India can strengthen its potential as an innovation hub through more investments in research and strategic collaborations.
“Our global initiatives and partnerships will pave the road ahead and create an ecosystem that nurtures co-creation and innovative partnerships.”
New Jersey’s Governor Phil Murphy said, “There is no better place for businesses looking to grow than New Jersey, and this partnership will give NASSCOM member companies direct access to NJIT’s impressive VentureLink Incubator.
“We are thrilled that as many as 10 companies are already waiting to take immediate occupancy and we can’t wait to welcome them as partners in New Jersey’s innovation economy.”