NASSCOM Announces the Virtual Launch of NASSCOM Launchpad in New Jersey, in Colloboration With VentureLink@Njit and Choose New Jersey, to Enhance Business Opportunities in the US

USA - English

• India - English

NEW DELHI, July 9, 2020 /PRNewswire/ -- As part of its ongoing efforts to promote cross border trade through innovation, investments and technology partnerships, the National Association of Software and Services Companies (NASSCOM) today 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.

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.

The partnership will also facilitate business partner match making 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.

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." 

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."

"Choose New Jersey is excited to mark the virtual launch of NASSCOM Launchpad in partnership with VentureLink@NJIT," said Jose Lozano, President & CEO, Choose New Jersey. "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."

About NASSCOM

The National Association of Software and Services Companies (NASSCOM®) is the premier trade body and chamber of commerce of the Tech industry in India and comprises over 2800-member companies including both Indian and multinational organisations that have a presence in India. Our membership spans across the entire spectrum of the industry from start-ups to multinationals and from products to services, Global Service Centers to Engineering firms. Guided by India's vision to become a leading digital economy globally, NASSCOM focuses on accelerating the pace of transformation of the industry to emerge as the preferred enablers for global digital transformation.  Our strategic imperatives are to reskill and upskill India's IT workforce to ensure that talent is future-ready in terms of new-age skills, strengthen the innovation quotient across industry verticals, create new market opportunities - both international and domestic, drive policy advocacy to advance innovation and ease of doing business, and build the Industry narrative with focus on Talent, Trust and Innovation. And, in everything we do, we will continue to champion the need for diversity and equal opportunity.

NASSCOM has played a key role in not just the growth of the Industry to become a $190+Billion industry today, but we have helped establish the Tech industry in India as one of the most trusted partners, globally. NASSCOM continues to make significant efforts in contributing towards India's GDP, exports, employment, infrastructure development and global visibility. Our membership base constitutes over 95% of the industry revenues in India and employs over 4 million professionals, and as technology blends into every aspect of the economy, we expect the industry to become key driver of growth, development and inclusion for the country. Our mission is to make India a global hub for Innovation and Talent so when the world thinks Digital, the world will think India.

About VentureLink@NJIT

VentureLink is a community hub for technology companies at the New Jersey Institute of Technology in Newark, NJ. They operate within the NJIT campus, providing in-residence start-up and established technology companies with weekly programming, workspace, and expert mentorship. To learn more visit www.venturelink.org.

About Choose New Jersey

Choose New Jersey is a privately funded 501(c)(3) nonprofit economic development organization. Our mission is to stimulate job creation and attract capital investment to New Jersey. We market New Jersey both domestically and internationally as the best place to grow your business in the United States. Our 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, we enable growth across all sectors of our State's economy. We aspire to build a stronger and more prosperous New Jersey for all. For more information, visit www.choosenj.com.

SOURCE NASSCOM