The National Association of Software and Services Companies (NASSCOM) has established a presence in New Jersey. It announced the Virtual Launch of NASSCOM Launchpad in New Jersey, with VentureLink@NJIT and Choose New Jersey. This partnership aims to facilitate partnerships between New Jersey and India and will promote technology-based Foreign Direct Investment between the two regions as well as amplify global competitiveness between the companies operating in both geographies.
VentureLink is a community hub for technology companies at the New Jersey Institute of Technology in Newark, NJ. They operate within the New Jersey Innovation Institute (NJII) campus, providing in-residence start-up and established technology companies with weekly programming, workspace, and expert mentorship.
Choose New Jersey is a privately funded 501(c)(3) nonprofit economic development organization. Its mission is to stimulate job creation and attract capital investment to New Jersey. It markets New Jersey both domestically and internationally as the best place to grow your business in the United States. Its knowledgeable, experienced staff, supported by a network of State agencies and private partners, provide free, confidential assistance to guide companies in establishing operations here. By harnessing the power of business, labor, academic and government leaders, it enables growth across all sectors of our State’s economy.
The prime focus of the NASSCOM Launchpad will be to provide a platform for member companies to use as a home base while exploring opportunities to do business in New Jersey and the greater New York area. Member companies will gain a hands-on understanding of market opportunities within the New Jersey tech ecosystem, assistance with site selection, government regulations, incentives, and tax planning to establish permanent operations in the region while operating out of their home location in India. This initiative would also support collaborative research and development in areas of common interest between the organizations of these regions.
“VentureLInk@NJIT provides a unique opportunity for member companies of NASSCOM to be part of New Jersey’s largest startup incubator and co-working space. These companies gain access to expert guidance and mentoring, unique networking opportunities and the vast resources of a top polytechnic university.” stated Simon Nynens, CEO of the New Jersey Innovation Institute (NJII) which oversees VentureLink@NJIT. “And we in turn, are introduced to some of India’s leading software and services companies.”
The partnership will also facilitate business partner matchmaking and assistance with introductions with prospective clients.
The initial companies participating in the Launchpad are Batoi Systems Pvt Ltd, Eminenture Pvt Ltd, Mucheo, NeenOpal Inc, ITSYS Solutions. It is expected that during the course of a year around 20 companies will utilize the platform.
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“This collaboration will continue to strengthen New Jersey’s relationship with India and further cultivate the innovation economy. We look forward to working together to support a pipeline of businesses that will call New Jersey home,” said Jose Lozano, President & CEO, Choose New Jersey.
Speaking about the partnership, Shivendra Singh, Vice President, NASSCOM, said, “This is yet another milestone program for NASSCOM that will act as a prominent catalyst for the global expansion of Indian IT companies. In the wake of the current pandemic, it is challenging to engage potential partners. While things normalise, it is imperative that business interactions continue in the new normal. Through this virtual platform, NASSCOM is enabling member companies to develop partnerships with U.S. based companies. I am confident that this program will boost opportunities available for Indian companies and we can play a role in their growth plans globally.”