SOSA and New Jersey launch first state-backed innovation hub for global startups
NJ BASE aims to attract foreign companies and accelerate investment across AI, cyber, fintech, and life sciences.
SOSA and the New Jersey Economic Development Authority (NJEDA) are establishing NJ BASE, New Jersey Business Acceleration and Soft-Landing Ecosystem, the first innovation center of its kind in the state, aimed at attracting global companies and accelerating foreign direct investment in New Jersey.
SOSA specializes in the design, construction, and operation of innovation centers around the world. The new center in New Jersey will serve as a launchpad for startups and international businesses in sectors including artificial intelligence, cybersecurity, fintech, life sciences, and advanced manufacturing.
In its first phase, the center is expected to host an inaugural cohort of approximately 20 international companies, each participating in a six-month business integration program. The initiative will provide fully funded workspace and connect participating companies directly with corporations operating in New Jersey, with the goal of creating commercial opportunities and helping companies establish a foothold in the local market.
"This new center represents a commitment to entrepreneurs coming here- that they are entering a system that has already done the groundwork and identified where the real opportunities lie," said Scheffer. "The center will connect global startups with validated needs from New Jersey’s corporate ecosystem, with the goal of generating real business outcomes and establishing a lasting presence in the state. I would like to thank NJEDA for their trust and close partnership."
