September 20, 2019
Over the years, TiE Mumbai plays a significant role in promoting, mentoring, helping, and funding startups in this region. TiE Mumbai, New Jersey City University (NJCU), and Choose New Jersey, have entered into a Memorandum of Understanding (MoU) for the purpose of promoting technology and technology-based investment exchange between New Jersey and India. To advance these strategies, the organizations will collaborate to support research and in the areas of common interest.
L-R: Ms. Margie, Atul Nishar, Tamara Cunningham and Governor Murphy signing the MoU with TiE Mumbai
Atul Nishar, President of TiE Mumbai, Tamara Cunningham, Assistant Vice President for Global Initiatives, New Jersey City University, and Margie Piliere, Chief Economic Development Officer at Choose New Jersey, signed the MoU in the presence of Governor Murphy.
“I am thrilled to welcome TiE Mumbai to New Jersey,” said New Jersey Governor, Phil Murphy. “As our state continues to build a world-class innovation ecosystem, we remain rooted in making the right investments for New Jersey’s economy. These investments emphasize our state’s history as the place where the modern world was invented and building upon that to be the place where tomorrow’s world will come to life. New Jersey is ready to have TiE Mumbai join us so we can lead the innovation economy together.”
“We are pleased to announce New Jersey City University’s partnership with TiE Mumbai,” said Jose Lozano, President & CEO of Choose New Jersey. “We are excited by the way our Indian community is joining us in helping to grow and reinvent New Jersey’s economy. There is no better environment for businesses looking to grow than New Jersey, and we are confident that TiE Mumbai will be a key partner to help support and attract the next generation of entrepreneurs.”
“It is an absolute honour to have Governor Philip Murphy with us today. This MoU presents excellent growth opportunities for our member startups and will enable us to offer them an access to knowledge, markets, funds and talent in the state of New Jersey,” said Atul Nishar, President, TiE Mumbai.
“New Jersey City University (NJCU) is honored to be part of Governor Murphy’s Delegation Trip to India,” said Dr. Sue Henderson, President, NJCU. “The Governor’s vision to strengthen ties between India and New Jersey affords NJCU the opportunity to enter into a timely partnership with TiEMumbai and Choose New Jersey to promote cross-border innovation and technological exchange. This international collaboration with NJCU’s School of Business will support startup companies and enterprises as they extend their footprints into North America. It will also give our faculty and students a chance to work closely with these startups as they integrate into the ecosystem of the United States. NJCU looks forward to being the conduit of access to opportunities and investments, specifically in the financial technology sector, for our new partner and its members.”
NJCU will offer the following services to the TiE Mumbai members (both pre-revenue and post-revenue stage technology startups) who are interested in exploring business and investment opportunities in New Jersey:
Soft-landing platform, co-working space, and private office space within the NJCU campus will be available for TiE Mumbai members to use as an initial base or launchpad to explore and develop business opportunities in New Jersey;
Guidance and mentorship will be offered to learn about the market, regulatory, commercial, and technological aspects of conducting business in New Jersey;
Introductions to potential business partners, clients, and investors; and
Joint workshops and projects for collaboration between TiE Mumbai members and NJCU members to collaborate on developing new technologies, products and solutions.
TiE Mumbai will actively seek to educate and inform its members on New Jersey’s economy and its business eco-system, as well as the government policies and initiatives of the state with respect to various sectors of common interest and the different opportunities for business and investment available in the various technology-driven sectors of the state. Additionally, TiE Mumbai will organize webinars, discussions, and talks to enable interactions between NJCU and TiE Mumbai members.
Choose New Jersey will act as an interface between TiE Mumbai and NJCU, facilitating interactions and engagements between the two organizations. Furthermore, Choose New Jersey shall provide guidance and assistance, either in partnership with NJCU or separately, to TiE Mumbai members planning to set up business activities in India, in the matters of business incorporation, choice or legal form, office location, government regulations and initiatives/incentives, tax planning, investment and fund-raising opportunities, among others. New Jersey is a preferred location because of its proximity to New York and offers attractive tax regime.
About TiE Mumbai
The Indus Entrepreneurs (TiE), was founded in 1992 in Silicon Valley by a group of successful entrepreneurs, corporate executives, and senior professionals with roots in the Indus region. Since 1992. TiE has been supporting entrepreneurs by offering education, mentorship, networking and funding opportunities. The mission of TiE is to foster entrepreneurship globally through the 5 pillars of TiE: mentoring, networking and education, funding and incubation. Dedicated to the virtuous cycle of wealth creation and giving back to the community. TiE’s focus area is to generate enable the next generation of entrepreneurs. There are currently 11,000 members, including over 2,500 charter members in 60 chapters across 17 countries. TiE’s mission is to foster entrepreneurship globally through mentoring, networking, and education.
About New Jersey City University (NJCU)
It was established in 1927 and is an accredited institution located in Jersey City, New Jersey. NJCU's College of Arts and Sciences, Education, Professional Studies, and School of Business offer 52 undergraduate degree programs and 28 master’s programs and 3 doctoral programs, including emerging and interdisciplinary fields.
About Choose New Jersey
It was founded in 2010 and is an economic development organization with a mission to encourage and nurture economic growth throughout New Jersey, with a focus on our urban centers. Through their integrated marketing and business attraction and retention efforts, they stimulate job creation and capital investment. They also collaborate with the state’s universities to encourage research, discovery, and innovation. Choose New Jersey’s economic development activities are supported by a prominent group of leaders from many of the state’s Fortune 500 and other top companies, labour organizations, associations, and higher education institutions. These organizations represent 1.25 million people, or nearly one-quarter of the state’s private-sector workforce.