For part of New Jersey-India Commission’s’ inaugural mission, in collaboration with Choose New Jersey, the Commission facilitated the signing of a Memorandum of Understanding (MOU). The MOU is between New Jersey Innovation Institute (NJII), which is a subsidiary of the New Jersey Institute of Technology (NJIT) and T-Hub Foundation, India’s leading startup incubator.
The new MOU builds upon the long-lasting relationship between Choose New Jersey, NJIT and T-Hub. New Jersey draws attention from international businesses across the world and this latest move will only help continue to support the economic growth of the State of New Jersey and the State of Telangana in India, which is where T-Hub is based out of.
“This collaboration is a testament to the strength of our global partnerships,” said Lieutenant Governor Tahesha Way. “These two institutions, the New Jersey Innovation Institute, and the T-Hub Foundation work to uplift innovators. By working together, we are not only advancing innovation but also deepening the cultural and economic bonds between New Jersey and India.”
In 2019, Choose New Jersey and T-Hub signed a tripartite agreement with VentureLink, the hub for technology companies at NJIT, to improve startup innovation and funding among other things. This collaboration laid the groundwork for the continued exchange of resources between the parties involved.
“New Jersey is a remarkable example of how diversity drives innovation, with a thriving Indian-American community and one of the world’s highest concentrations of Indian-origin professionals. This collaboration between NJII and T-Hub underscores the potential of bringing together the best of both worlds—Telangana’s proven expertise in driving transformative advancements in artificial intelligence, life sciences, and technology, and New Jersey’s robust academic and industrial ecosystems,” said, Shri Duddilla Sridhar Babu, Hon’ble Minister for Information Technology, Electronics & Communication, Industry & Commerce, Government of Telangana. “Telangana has consistently demonstrated leadership in building cutting-edge solutions and fostering global partnerships. Today’s collaboration is not just about innovation but about creating an enduring bridge of knowledge, technology, and opportunity between two regions committed to shaping the future of the global economy.”
The deal will look to continue the growth of the relationship between New Jersey and India and benefit both parties, as they continue to support one another. The MOU hopes to not only foster economic growth, but also see significant advancements in technology.