July 8, 2020
The Launchpad has been facilitated through VentureLink@NJIT, a startup hub based in New Jersey.
Eminenture, Batoi Systems, Mucheo, ITSYS Solutions, and NeenOpal are some of the participating companies.
The CII recently reported that nearly 125,000 jobs were created by Indian companies in the US.
Close to 155 of the Indian firms who have a presence in America plan to continue hiring in the US.
The Nasscom Launchpad has been launched in New Jersey by the National Association of Software and Services Companies (Nasscom) to amplify trade and promote FDI between the Indian and New Jersey technology ecosystems. Facilitated through VentureLink@NJIT, a startup hub, the launchpad has seen participation from companies like Eminenture, Batoi Systems, Mucheo, ITSYS Solutions, and NeenOpal. Media reports citing an official statement mentioned that with the help of the platform, member organizations could gain access to intelligence about the IT infrastructure in New Jersey and the Greater New York area ranging from the selection of appropriate sites for projects to receiving guidance on governmental procedures and tax planning while being based out of their India offices.
The Nasscom Launchpad will also be instrumental in helping close to 20 companies identify and work with potential clients. Shivendra Singh, Vice President, NASSCOM said, “This is yet another milestone programme for Nasscom that will act as a prominent catalyst for the global expansion of Indian IT companies. In the wake of the current pandemic, it is challenging to engage potential partners. While things normalise, business interactions must continue in the new normal. I am confident that this programme will boost opportunities available for Indian companies and we can play a role in their growth plans globally.”
Recently, ‘Indian Roots, American Soil 2020’ a study conducted by the Confederation of Indian Industry (CII) documented that nearly 125,000 jobs were created by Indian companies in the US. The report found that the states that received the highest Indian investment were Texas (US$9.5 billion), New Jersey (US$2.4 billion), New York (US$1.8 billion), Florida (US$915 million), and Massachusetts (US$873 million). Close to 155 of the Indian firms that are operating in the US plan to continue hiring in the market. With robust policy-based support from the Ministry of Electronics and Information Technology (MeitY) and initiatives by organisations like Nasscom, the Indian IT/ITeS space can expect to see robust international partnerships with tech ecosystems.