The basics:
- NJEDA approves SOSA to manage NJ BASE, a new business landing pad in Jersey City
- NJ BASE aims to attract global tech firms in AI, fintech and cybersecurity
- Facility will offer workspace, marketing and business support services
- Program strengthens New Jersey’s position as a global innovation hub
The New Jersey Economic Development Authority board approved an operator to manage and oversee its new landing pad for international companies.
As NJBIZ reported in June, the agency announced the creation of the New Jersey Business Acceleration and Softlanding Ecosystem (NJ BASE) in Jersey City.
Located at 3 Second St., the landing pad will establish a first-of-its-kind facility in New Jersey. It aims to attract foreign companies in key industries critical to the state’s economy, such as:
It will also offer coworking space, marketing services and more.
SOSA, a leading global technology and innovation consulting firm, will operate NJ BASE. The selection followed a competitive review process, according to the NJEDA.
SOSA has more than a decade of experience. It has run over 40 international accelerator and landing programs in partnership with government and corporations worldwide.
“The NJEDA is excited to partner with SOSA on launching NJ BASE and welcoming foreign companies to the Garden State,” said NJEDA Chief Executive Officer Tim Sullivan. “Under Gov. [Phil] Murphy’s leadership, New Jersey has made impactful investments to diversify our economy and create new jobs.
“NJ BASE will strengthen our state’s position on the global stage by helping entrepreneurs scale their businesses, foster innovation, and build lasting international partnerships.”
‘Landing pad for innovation’
“SOSA is proud to partner with the NJEDA to launch and operate NJ BASE, New Jersey’s first landing pad for innovative, technology-driven international companies,” said Uzi Scheffer, CEO of SOSA. “Building on over a decade of experience running landing pad programs around the world, we’ll help international companies land, forge commercial relationships, and scale in New Jersey.
“NJ BASE will collaborate with leading international companies and key players across the state’s economy to create lasting commercial success, strengthening New Jersey’s position as a global hub for innovation.”
Key things to know:
- NJEDA board awarded SOSA a three-year contract, with two optional one-year extensions
- SOSA will manage the NJEDA’s leased office space and oversee the day-to-day operations. The Class A space is more than 7,200 square feet and includes amenities such as conference facilities and event space
- Located near public transit
NJ BASE is located at 3 Second St. in Jersey City:
Officials say NJ BASE will allow a business to establish itself here in the Garden State, with access to the larger U.S. market. Enterprises can then expand, attract investment and create high-quality, long-term jobs, they said.
The place to be
“New Jersey continues to strengthen its reputation as a premier destination for international companies seeking to enter the U.S. market,” said Wesley Mathews, Choose New Jersey president and CEO. “NJ BASE will provide foreign businesses with the tools, connections, and resources they need to thrive here, while further deepening New Jersey’s global partnerships and driving long-term economic growth across our state.”
The announcement comes on the heels of the NJEDA signing an MOU with Abu Dhabi’s Hub 71. That move aims to support technology startups seeking to expand internationally. The agreement will also complement the efforts of NJ BASE.
NJEDA Director of International Innovation Andrew Gross noted that international companies have their eye on the Garden State. He referenced a commitment to spurring innovation, world-class educational institutions, talent pool and proximity to major cities.
“With support from SOSA, NJ BASE will keep our state competitive and bolster our economic relationships with governments around the world,” said Gross.
NJ BASE is slated to open in the coming months.
