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New Jersey Governor Phil Murphy's administration has awarded the New Jersey Institute of Technology (NJIT) and William Paterson University with the Global Entrepreneurs-in-Residence (Global EIR) program. This initiative focuses on fostering innovation and entrepreneurship in artificial intelligence (AI) by providing international entrepreneurs with pathways to grow their startups in New Jersey.
The program allows entrepreneurs to obtain H-1B visas through part-time academic roles, enabling them to work alongside university stakeholders, advance research, and mentor students. Governor Murphy emphasized the importance of this initiative, stating that it combines global entrepreneurial talent with the strengths of NJIT and William Paterson University to drive economic growth and establish New Jersey as a hub for AI and technological advancement.
According to the New Jersey Office of the Secretary of Higher Education, the program is part of the state's AI Moonshot effort, which aims to create a cutting-edge innovation ecosystem. The initiative is expected to enrich student learning experiences and enhance institutional capacity for innovation.
NJIT President Teik C. Lim expressed excitement about the program, highlighting its potential to bolster NJIT’s entrepreneurial ecosystem. William Paterson University's Provost Joshua B. Powers also praised the program as a significant step forward in cultivating global talent and fostering impactful collaborations.
The program is funded with $400,000 allocated in the Fiscal Year 2025 Appropriations Act, and it aligns with New Jersey's broader economic initiatives to capitalize on AI trends and foster economic growth.