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Israeli company invests in hub to make New Jersey 'new Silicon Valley' for foreign start ups

From Jerusalem Post · () English

Summarized and contextualized by DistantNews.

At a glance

News Named sources Context piece
  • An Israeli company, SOSA, is partnering with New Jersey to establish a technology hub called NJ BASE near Manhattan.
  • The hub aims to attract foreign AI, cyber, fintech, life sciences, and advanced manufacturing companies to the US, offering them a "soft landing."
  • The initiative, supported by the New Jersey Economic Development Authority, seeks to bolster the state's position as a global center for technological innovation.

New Jersey is set to become a burgeoning center for global innovation with the announcement of NJ BASE, a new technology hub spearheaded by the Israeli company SOSA. This ambitious project, strategically located near Manhattan, signals a significant step in New Jersey's drive to position itself as a premier destination for foreign high-tech enterprises, particularly in burgeoning fields like artificial intelligence and cybersecurity.

connect global startups with the verified needs of the New Jersey corporate system.

— Uzi ShefferDescribing the venture's aim to link international companies with local business requirements.

The core mission of NJ BASE is to provide a supportive "soft landing" for international companies seeking to expand their operations into the United States. In its initial phase, the hub will welcome approximately 20 foreign firms, offering them fully funded workspaces and six months of dedicated business support. This comprehensive package is designed to facilitate seamless integration into the American market, fostering real business growth and success for the participating companies.

This collaboration highlights New Jersey's proactive approach to economic development and technological advancement. By actively seeking out and nurturing international talent and investment, the state is not only strengthening its own innovation ecosystem but also contributing to the broader landscape of global technological progress. The partnership with SOSA, a company with a proven track record in connecting global startups with corporate needs, underscores the strategic vision behind NJ BASE. It's a clear signal that New Jersey is serious about competing on the global stage and attracting the next wave of disruptive technologies.

The main goal is to produce real business results for the participating companies.

— Uzi ShefferEmphasizing the focus on tangible outcomes for the companies involved.

From our perspective in Israel, this initiative represents a valuable opportunity to deepen ties with the US and provide a crucial gateway for Israeli tech companies looking to expand westward. The focus on providing tangible business results and connecting startups with the verified needs of the New Jersey corporate system is particularly appealing. This isn't just about creating another tech hub; it's about building bridges for innovation and fostering tangible economic outcomes for both sides.

working to strengthen its position as a global destination for technological innovation, through investments in entrepreneurship, collaborations, and professional workforce development.

— Evan WeissExplaining New Jersey's strategy to attract and foster technological innovation.
DistantNews Editorial

Originally published by Jerusalem Post. Summarized and contextualized by our editorial team with added local perspective. Read our editorial standards.

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