The New Jersey Office of the Secretary of Higher Education announced Wednesday the selection of the New Jersey Institute of Technology (NJIT) and William Paterson University as host institutions for foreign entrepreneurs who will serve in part-time academic roles under the state’s Global Entrepreneurs-in-Residence (EIR) pilot program. The program provides a pathway for entrepreneurs around the world to obtain H-1B visas, or temporary permits for educated workers in specialty occupations. Participants in the Global EIR program would work with university faculty and staff on research and teaching and mentoring students, as well as using institutional resources to build and scale their tech startups.
“Our higher education institutions are critical drivers of economic and technological progress,” New Jersey Secretary of Higher Education Brian Bridges said in a public statement. “This program not only provides international entrepreneurs with a pathway to establish roots in New Jersey but will also enrich the learning experiences of students and enhance institutional capacity for innovation.”
The news release said the program reflects the growth of the AI industry, as well as the important role international students and businesspeople have played in it. By 2030, this industry is projected to contribute almost $20 trillion to the global economy, according to the market intelligence firm IDC.
In 2023, the National Foundation for American Policy found that 65 percent of America’s top AI companies were founded or co-founded by immigrants, and 70 percent of full-time graduate students in AI-related fields were international students.
“This program underscores our commitment to cultivating global talent and fostering impactful collaborations that benefit both our students and the region,” Joshua Powers, William Paterson University provost, said in the news release.
The chosen universities have supported entrepreneurship in the past. Among a number of efforts, NJIT, for example, hosts a Center for Student Entrepreneurship with courses, events and help for students interested in launching their own startups or landing internships.
“By combining the strengths of William Paterson University and the Small Business Development Center, we are creating opportunities to empower, attract, and retain international founders,” Melissa Rosario, regional director of William Paterson University's Small Business Development Center, said in a public statement. “Their contributions will drive economic growth and foster innovation, positioning our university and the New Jersey community as hubs for global entrepreneurial success.”
