As he continues his four-day trip through Ireland, Gov. Phil Murphy announced the signing of three Memorandums of Understanding (MOU) between New Jersey academic and real estate entities with top Irish tech universities and a startup accelerator.
The goal of the MOU’s is to create mutually beneficial opportunities and forge collaboration in innovative projects that foster entrepreneurship, business development, career development and international education.
“A consistent effort of my administration has been helping New Jerseys institutions in identifying and partnership with entities that can help grow New Jersey’s economy and create good-paying jobs,” said Murphy. “The partnerships solidified today are an example of the fruits of those efforts. The MOU’s signed today will further propel New Jersey’s path toward economic progress as we welcome new partnerships, opportunities, and perspectives to our state. Today’s announcement will facilitate international collaborations that will spur economic growth and build a vibrant technology ecosystem rooted in New Jersey’s legacy of innovation.”
The first MOU was signed between New Jersey City University (NJCU) and Atlantic Technological University (ATU). It calls for connecting the companies participating in the ATU incubator programs and companies aligned with NJCU’s School of Business and the Guarini Institute for International Education and Economic Mobility. Additionally, the schools will facilitate student trips to the other’s campuses to complement career development opportunities and engage in faculty exchanges and connections. The NJCU School of Business innovation center will provide access to working space for ATU entrepreneurs to explore expansion into the U.S. market.
“This agreement with Atlantic Technological University will benefit our respective communities by leveraging the considerable talent and abilities of our faculty, staff, and students,” said Bernard McSherry, founding dean of the NJCU School of Business. “Working together, we will foster economic development, and the good jobs that accompany it, in both New Jersey and Ireland.”
“I can’t wait to see the results of this partnership,” said Orla Flynn, president ATU. “The arrangement signed today with NJCU will open doors of collaboration and opportunity for both partners and we look forward to a long and mutually beneficial relationship with NJCU.”
The second MOU was signed between NJCU and Guinness Enterprise Centre (GEC). As part of the agreement, both signees agreed to connect companies associated with each other’s ecosystem for the purpose of business development and knowledge-sharing. Additionally, NJCU will provide access to workspace for startups associated with GEC as a soft-landing to test the U.S. market. GEC will invite NJCU faculty and students to visit the GEC, offering a chance to learn more about the Irish tech ecosystem.
“NJCU is committed to increasing the economic mobility of our students by championing initiatives that foster innovative career opportunities with international entities,” said Adrian Franco, executive director of the Guarini Institute for International Education and Economic Mobility. “We look forward to connecting our students and faculty with the GEC and facilitating interactions between this world-renowned incubator and the business ecosystem in New Jersey.”
“This partnership will be a huge asset to our member companies and the wider Irish startup ecosystem who now will have access to the major tech hub on the East Coast of the United States,” said Eamonn Sayers, centre manager of GEC. “The relationship with NJCU will mean access to workspace as well as key introductions to capital firms and business development opportunities.”
The third MOU agreement was signed between New Brunswick Development Corp. (DEVCO), Atlantic Technological University and Choose New Jersey. The collaboration is intended to promote foreign direct investment, enhance the global competitiveness of New Jersey and Irish companies, and support collaborative research and development in areas of common interest. Choose New Jersey will provide support to ATU startups, while ATU will actively educate its community on the advantages of a New Jersey location.
DEVCO will offer ATU companies six months of free office, lab, or coworking space at the New Jersey Innovation & Technology Hub in New Brunswick.
“I am looking forward to a long and productive relationship with ATU,” said Christopher Paladino, president of DEVCO. “Our state-of-the-art facilities can assist ATU companies as they look for a full-time home in New Jersey.”
“New Jersey is a global technology hub,” said Wesley Matthews, president and CEO of Choose New Jersey, who joined Murphy at the signing in Dublin. “The MOU’s signed today demonstrate that international institutions recognize what we already know – that the state’s unique combination of top-tier universities, talent, infrastructure, and ideal location make us extremely appealing to global institutions.”
The MOU signings follow the announcement of a $126 million investment by Applegreen in New Jersey over the coming years.