New Jersey universities launch program to host international AI entrepreneurs

New Jersey universities will host international entrepreneurs with AI expertise in a novel program combining academic roles with startup development opportunities.

Program Overview: The New Jersey Office of the Secretary of Higher Education has selected the New Jersey Institute of Technology (NJIT) and William Paterson University to host foreign entrepreneurs under the Global Entrepreneurs-in-Residence (EIR) pilot program.

• The program provides H-1B visa pathways for international entrepreneurs who will serve in part-time academic positions
• Participants will engage in research, teaching, and student mentoring while developing their tech startups
• The initiative specifically focuses on generative artificial intelligence development and innovation

Key Institutional Roles: Both selected universities have demonstrated track records in supporting entrepreneurship and innovation in technology.

• NJIT operates a Center for Student Entrepreneurship offering courses, events, and startup support
• William Paterson University’s Small Business Development Center will provide resources and support for international founders
• Both institutions will provide facilities and resources for entrepreneurs to scale their tech ventures

Economic Impact and Industry Context: The program aims to capitalize on the significant growth projected in the AI sector while addressing the important role of international talent.

• The AI industry is forecast to contribute approximately $20 trillion to the global economy by 2030, according to IDC
• Research shows that 65% of leading U.S. AI companies were founded or co-founded by immigrants
• International students comprise 70% of full-time graduate students in AI-related fields in America

Leadership Perspectives: Key stakeholders have emphasized the program’s strategic importance for economic development and educational enhancement.

• Brian Bridges, New Jersey Secretary of Higher Education, highlights the program’s dual benefit of attracting international talent while enriching student learning experiences
• Joshua Powers, William Paterson University provost, emphasizes the program’s role in fostering global collaborations
• Melissa Rosario from William Paterson’s Small Business Development Center focuses on the program’s potential to drive economic growth and innovation

Looking Forward: The initiative represents a strategic approach to addressing both educational and economic development needs in New Jersey’s tech sector, though its success will likely depend on the ability to attract high-caliber entrepreneurs and effectively integrate them into both academic and business environments.