Two New Jersey nonprofits and an Indian tech firm are aiming to boost research collaboration under a pair of agreements stemming from Gov. Phil Murphy’s trade mission to India in 2019.
The first is between the Association of Biotechnology Led Enterprises, which represents the Indian biotechnology sector, and BioNJ, the trade group for New Jersey’s pharmaceutical industry.
Under the memorandum of understanding between BioNJ and ABLE, the two will work to build the biotechnology research collaboration in New Jersey and India, respectively, according to an Oct. 6 announcement from Choose New Jersey, which markets the state’s nationwide and global businesses.
The nonprofit financed Murphy’s trade mission to India, and a similar trip to Germany and Israel in 2018.
“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,” reads a statement from Narayanan Suresh, ABLE’s chief operating officer.
ABLE was born out of the 2019 India trade mission as a means to coordinate research and business between New Jersey and the world’s second-most populous nation, Choose NJ said.
The second MOU is between ABLE and the Institute for Life Science Entrepreneurship, a life sciences incubator based out of Kean University in Union County.
“The Indian biotechnology sector is thriving,” said ILSE President Thomas Richardson, and the institute would be the perfect entryway by which ABLE and other Indian companies can “expand their footprint to New Jersey and beyond.”
“The New Jersey region – a leading global life sciences cluster – is the perfect place for ABLE members to thrive, and ILSE stands ready to provide the resources and expertise they need to achieve success in New Jersey’s innovation ecosystem,” Richardson continued.
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