Hoboken Looks for a Silicon Alley Breakaway

By HEATHER HADDON/ Wall Street Journal

Mission 50’s co-founder and president, Gregory Dell’Aquila

Hoboken wants to extend Silicon Alley across the Hudson River and grab a piece of the New York City technology boom.

The Mile Square City now claims a tech meetup with 2,160 members—one of the largest communities in the Greater New York area. The Hoboken City Council is set to vote next month on a plan to lease out a publicly-owned waterfront building as a community tech space.

And the Stevens Institute of Technology, a private college in Hoboken, is opening an innovation and entrepreneurship office this fall for students interesting in start-ups. The institute is also in talks with venture capitalists to start by next year a “tech accelerator” that provides seed money and mentorship for tech start-ups, said Nariman Farvardin, the institute’s president.

“I would like to see in Hoboken a version of what is happening in Silicon Valley,” said Mr. Farvardin, an engineer who started two technology companies and holds seven patents.

Hoboken is leading a quiet effort in New Jersey to harness some of the tech sector excitement being generated in New York City, where information-technology jobs have increased 29% in the past five years.

Continue reading at the WSJ >>>


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