The New Jersey-India Commission in conjunction with Choose New Jersey, facilitated the signing of an MOU between Choose, the Institute for Life Science Entrepreneurship, a New Jersey-based not-for-profit focused on supporting life science entrepreneurship, and the Association of Biotechnology Lead Enterprises, an Indian biotechnology organization.
As part of the commission’s inaugural economic mission to India, Lt. Gov. Tahesha Way signed the MOU established to create a strong connection between biotechnology companies in New Jersey and India.
“Through this exciting partnership with Institute for Life Science Entrepreneurship and Association of Biotechnology Lead Enterprises, we will continue to strengthen the deep economic and cultural ties between New Jersey and India,” Way said.
“We are eager to bolster opportunities in the biotechnology sector for both regions, and this latest agreement reaffirms our dedication to nurturing economic ties with one of the world’s fastest-growing economies.”
The MOU aims to promote life sciences and technology-based foreign direct investment between New Jersey and India, enhance the global competitiveness of New Jersey and Indian companies, and support collaborative research and development in areas of common interest.
The trip supports the state’s new economic slogan: New Jersey is The World’s State — a reference to how N.J. is a global hub that draws immigrants and international businesses from around the world. ABLE began its partnership with Choose New Jersey in 2021 when it signed an MOU with ILSE and BioNJ, beginning a robust collaboration between New Jersey and India.
“This agreement exemplifies New Jersey’s global leadership in life sciences and technology,” Choose CEO and Chair of NJ-India Commission Wes Mathews said. “This latest collaboration will address gaps and opportunities in the current ecosystem and connect stakeholders in industry and academia.”
The Institute for Life Science Entrepreneurship is a nonprofit research institute, incubator, and accelerator established in 2014 focused on improving life science innovation globally. ILSE was founded at Kean University to bring world-class research to Kean and to support the university’s research enterprise. With seed investment from Kean, ILSE established research activities, resources, and programs to support faculty and student training.
“ILSE is thrilled to strengthen our ties with ABLE and expand opportunities for collaboration between biotechnology companies in New Jersey and India,” ISLE President Thomas Richardson said. “Through this partnership, we aim to foster groundbreaking research and accelerate innovation in life sciences, benefiting the global community.”
The Association of Biotechnology Led Enterprises is a not-for-profit organization representing over 400 members, focusing on accelerating the pace of growth of the biotechnology sector in India.
ABLE was first introduced to New Jersey leaders during Gov. Murphy’s economic mission to India with Choose New Jersey in 2019. The New Jersey India Center, founded during that historic trip, helped facilitate ABLE’s relationships with key New Jersey partners and continues to serve as the first point of contact for Indian businesses looking to expand in North America.
“ABLE is proud to partner with Choose New Jersey and ILSE to drive innovation and collaboration between our vibrant biotechnology sectors,” COO Narayanan Suresh said. “This agreement represents a significant milestone in our mission to advance the biotechnology ecosystem in India while building strong, mutually beneficial relationships with global leaders like New Jersey.”
