Princeton University and the New Jersey Economic Development Authority (NJEDA) have joined forces to establish an Artificial Intelligence (AI) hub in New Jersey. This collaboration aims to accelerate the growth of the AI industry in the state. The establishment of the hub builds upon New Jersey’s history of innovation and positions it as a leader in the rapidly expanding field of AI.
The NJEDA will provide $250,000 in planning funds from its Strategic Innovation Center initiative to support the initial development of the AI hub at Princeton University. This hub will bring together researchers, industry leaders, startups, and other collaborators to drive research and development in AI, provide dedicated accelerator space, promote the use of ethical AI for societal impact, and foster workforce development.
In addition to this partnership, the NJEDA offers various programs to attract and retain AI companies in the state. One such program is the Angel Match Program, which offers funding to startups, including those focused on AI, to stimulate growth, job creation, and economic activity. The NJEDA also supports entrepreneurs through the New Jersey Innovation Fellows Program (NJIF), providing income replacement grants to diverse entrepreneurs pursuing AI-focused startups.
New Jersey has seen a surge in AI-driven companies choosing to call the state home. Companies like AlphaRoc, which offers AI-driven investment insights, have found success in New Jersey. The state also boasts a thriving research ecosystem with over 50,000 research outputs in AI, advanced computing, digital communication, quantum computing, and machine learning. These research outputs are accessible through the Research with NJ online platform, which provides valuable resources for commercial enterprises looking to fuel their growth.
By fostering partnerships, offering financial support, and promoting research collaborations, the NJEDA is committed to nurturing the development of AI technologies in New Jersey. With over 10,000 technology companies already based in the state, New Jersey is well-positioned to become a powerhouse in the AI industry.
For more information on NJEDA resources, please visit the official website or follow @NewJerseyEDA on social media platforms.
The source of the article is from the blog radiohotmusic.it