The New Jersey Economic Development Authority (NJEDA) and Hub71, Abu Dhabi’s global tech ecosystem, have partnered for the first time in the United States, creating a new avenue for high-growth firms to expand across the Atlantic.
While attending the Abu Dhabi Investment Forum (ADIF) in New York, the Memorandum of Understanding (MoU) was signed. The deal lays the groundwork for founders to expand globally by granting reciprocal access to Abu Dhabi and New Jersey’s startup ecosystems. The partnership enhances strategic collaboration between the United States and the United Arab Emirates in high-impact areas including artificial intelligence and clean energy.
New Jersey is developing significant international connections worldwide under Governor Murphy’s direction, which will increase investments in new sectors and diversify the state’s economy, according to Tim Sullivan, Chief Executive Officer of the NJEDA. “The NJEDA has developed a strong toolkit to assist creative startups, and we are thrilled to collaborate with Hub71 to highlight the fascinating prospects in the Garden State and Abu Dhabi.”
In order to promote cross-border cooperation between the UAE and Japan, Hub71 recently formed a strategic alliance with the Japan External Trade Organization (JETRO), which is a complement to the deal with NJEDA. Collectively, these collaborations demonstrate Hub71’s commitment to creating an internationally interconnected ecosystem that facilitates the exchange of innovations in key markets.
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