[Jacob Jonas is the director of IDT Ventures, a strategic incubator program launched by IDT.This contribution was written as part of our Story of the Year 2016: Newark’s Tech Renaissance.]
The Newark tech scene is on the rise and Broad Street is popping. Across the street from IDT, Audible is in a rapid growth phase, and just turned a church into an office! Newark Venture Partners, located in the Rutgers/Audible building, has a truly amazing office space. They are the epitome of a cutting-edge, tech accelerator. I expect that many of the companies coming out of their program will fall in love with Newark and will want to stay here for many years to come.
Meanwhile, IDT Corporation (Newark) is in middle of a major transformation phase. This past year, IDT renovated its Newark headquarters, converting it into a state-of-the-art facility that complements IDT’s commitment to remaining an important technological disruptor for years to come.
We recently launched two high-upside, technology-oriented businesses: PicuP and National Retail Solutions. Our incubator program, IDT Ventures, also launched this year, and currently hosts two companies: PeduL and ImaliMobile. PeduL is a higher-education crowdfunding platform, and Mayor Ras J. Baraka’s office has shown a great willingness to collaborate with them.
Finally, IDT is helping New Jersey remain the pharmaceutical capital of the world. We recently announced our investment in and collaboration with Cornerstone Pharmaceuticals (Cranbury), the developer of a breakthrough approach to treating some of the toughest forms of cancer.