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SME Times News Bureau | 08 Jul, 2020
IT industry's apex body Nasscom on Wednesday announced the virtual launch of its Launchpad in New Jersey in the US that will provide a platform for member companies to explore opportunities to do business in New Jersey and the greater New York area.

Launched in the partnership with the startup hub and coworking space VentureLink@NJIT and non-profit Choose New Jersey, the Nasscom LaunchPad will promote technology-based foreign direct investment (FDI), along with amplifying global competitiveness between the companies operating in both geographies.

"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 US-based companies," said Shivendra Singh, Vice President, Nasscom.

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.

The partnership will also facilitate business partner matchmaking and assistance with introductions with prospective clients.

"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," said Simon Nynens, CEO of the New Jersey Innovation Institute (NJII) which oversees VentureLink@NJIT.

The initial companies participating in the Launchpad are Batoi Systems Pvt Ltd, Eminenture Pvt Ltd, Mucheo, NeenOpal Inc and ITSYS Solutions.

It is expected that during the course of a year, around 20 companies will utilise the Launchpad, said Nasscom.

Jose Lozano, President and CEO, Choose New Jersey said the collaboration will continue to strengthen New Jersey's relationship with India and further cultivate the innovation economy.