In the midst of a seven-day economic trade mission to India, Gov. Phil Murphy and the New Jersey delegation have announced more Memorandums of Understanding (MOU) between the South Asian country and Garden State institutions of higher education.
Today in Hyderabad, a city in south central India, the governor headlined the Indian Chamber of Commerce’s first Sustainability Innovation Summit, where he announced a trilateral partnership between Choose New Jersey, the New Jersey Institute of Technology’s VentureLink incubator, and T-Hub, Hyderabad’s premier incubator for startups.
The MOU is designed to promote technology and investment exchange between New Jersey and India and support Indian companies looking to expand into the US by providing soft landing facilities at NJIT’s VentureLink. As part of the MOU, NJIT is offering 60 days of free rent to T-Hub companies taking space in the NJIT VentureLink incubator. T-Hub also announced that three Indian startups will soon have a presence at VentureLink.
Meanwhile, First Lady Tammy Murphy witnessed an MOU signing between the University of Hyderabad and Princeton University. This is the first step in a dialogue between the two institutions to develop new research collaborations in the life, natural, computer and information sciences.
Yesterday, Governor Murphy announced a historic partnership with the National Research Development Corporation and Rowan University. The purpose of this MOU is to collaborate on R&D and to promote, develop, and commercialize inventions, patents, and processes emanating from various national R&D institutions and universities. “Rowan and the NRDC will help usher in the next generation of discovery and invention,” Governor Murphy said.
In other related news, Choose New Jersey, the NJ Motion Picture and Television Commission, and the Active Telegu Film Producers Guild signed an MOU to facilitate and promote the shooting of Indian films in New Jersey. The new beneficial tax credit available to film and television productions based in New Jersey provides general credits for expenses of pre-production, filming, and post-production.
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