Choose New Jersey and the Association of Biotechnology Led Enterprises (ABLE), a not-for-profit organization representing the Indian biotechnology sector, have signed two separate memoranda of understanding (MOUs) that will strengthen New Jersey’s strong ties with cutting-edge biotechnology companies in India. The MOUs are with two organizations: the Institute for Life Science Entrepreneurship (ILSE), a New Jersey-based not-for-profit focused on supporting life science entrepreneurship, and BioNJ, the largest life sciences association in New Jersey.
Both MOUs will increase collaboration and expand ABLE member companies’ presence in New Jersey, encouraging more Indian companies to do business in the State. Launched in 2003, ABLE has over 400 members across India, and represents various sectors across the life sciences industry.
“We are pleased to announce these partnerships with ABLE, BioNJ and the Institute for Life Science Entrepreneurship,” said Catherine Scangarella, chief business development officer. “This collaboration builds upon our robust business attraction efforts in India, and will encourage leading Indian biotechnology companies to expand their operations in our great State.”
ABLE was first introduced to New Jersey leaders during Gov. Phil Murphy’s business attraction trip to India with Choose New Jersey in 2019. The New Jersey India Center (NJIC), founded during that historic trip, helped facilitate ABLE’s relationships with key New Jersey partners and serves as the first point of contact for Indian businesses looking to expand in North America. India is one of New Jersey’s largest trade and investment partners, and Indian Americans represent the largest group of foreign-born residents in New Jersey.
“We are thrilled to collaborate with BioNJ and Institute for Life Science Entrepreneurship, two leading biotechnology organizations in New Jersey,” said Narayanan Suresh, chief operating officer at the Association of Biotechnology Led Enterprises, India. “New Jersey’s location, along with its highly-educated workforce and renowned academic institutions, make it an ideal location for Indian biotechnology companies looking to grow and expand their footprint internationally. New Jersey and India have long-standing cultural and economic ties, and these new agreements will only increase this vital collaboration and advance innovation.”
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