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Chicago-based Venture Firm Gains Approval to Co-Invest in New Jersey’s High-Growth Startups through the NJIEF Program

CHICAGO, IL, UNITED STATES, September 20, 2023/EINPresswire.com/ — EMERGING Fund Management LLC today announced its approval as a Qualified Venture Firm (QVF) by the New Jersey Economic Development Authority (NJEDA) for participation in the New Jersey Innovation Evergreen Fund (NJIEF). This recognition allows EMERGING Fund to leverage up to $12.5 million annually to co-invest in innovative, high-growth businesses based in New Jersey.

EMERGING Fund’s investment are focused on disruptive ventures employing technology to heighten guest experiences, streamline operations, and promote sustainable growth within the restaurant industry. With its strategic engagement, EMERGING Fund offers capital, industry expertise, and a resource network to support their portfolio companies in realizing their ambitious growth objectives.

“Working with NJEDA in this initiative gives us an opportunity to help some of the state’s most promising restaurant and restaurant technology entrepreneurs take their businesses to the next level and simultaneously contribute to building New Jersey’s economy,” said Mathew Focht, General Partner and Founder of EMERGING Fund. “With our capital investment as well as access to a Who’s Who of restaurant industry veterans for strategic advice and mentorship, we can provide critical strategic growth resources for the next generation of businesses in this space.”

The NJIEF, established under the New Jersey Economic Recovery Act (ERA) of 2020 and signed into law by Governor Phil Murphy in 2021, is a groundbreaking initiative enabling the State of New Jersey to become an equity investor in early-stage businesses. With a commitment of up to $300 million, the state collaborates with approved qualified venture firms like EMERGING Fund to co-invest, bringing the total investment potential to $600 million.

The NJIEF’s unique approach to funding, which includes capital raised from the sale of tax credits auctioned in December 2022, aims to bolster the growth of New Jersey’s high-growth businesses. The program has garnered attention from venture firms nationwide, all recognizing New Jersey’s leadership in innovation.

NJEDA Chief Executive Officer Tim Sullivan recently emphasized the state’s dedication to innovation, stating, “The NJIEF offers a unique and responsive solution for getting capital into the hands of the state’s youngest companies while also building on New Jersey’s role as a leader in innovation.”

EMERGING Fund Management LLC joins two other venture capital firms approved in this recent round, bringing the total number of qualified venture firms to ten. Each firm can access the designated funds to co-invest in New Jersey’s most promising startups.

About EMERGING Fund
EMERGING Fund is among the first growth capital funds to pinpoint the explosive convergence of technology, “ResTech,” and restaurant & entertainment concepts. EMERGING Fund provides capital, strategic assistance, and industry knowledge to forward-thinking companies within the sector. With an emphasis on using technology to effect positive change, EMERGING Fund aims to transform the restaurant industry by investing in ventures that re-imagine the guest experience, enhance operational efficiency, and promote sustainability. For more information, visit https://EMERGING.com/fund/

David Bagley
Chief Investment Officer, EMERGING Fund
630-248-4145
email us here

By K Raveendran The pace at which the India-Canada diplomatic row is deteriorating, manifesting in tit for tat diplomatic expulsions, suggests that Khalistan activist Hardeep Singh Nijjar’s killing may be an action replay of the murder of Washington Post journalist Jamal Khashoggi, a Saudi-born critic of the Saudi royal family, particularly crown prince Mohammed bin […]

The post Nijjar Murder Has Similarities With Assassination Of Saudi Journo Khashoggi first appeared on Latest India news, analysis and reports on IPA Newspack.

Improving Consumer Experiences with Real-time Analytics and IoT Technology

FREMONT, CA, USA, September 18, 2023/EINPresswire.com/ — NEXCOM, a leading global supplier of intelligent retail appliances, announced today launch of the Neu-X303mini, powering the future of retail with smarter, faster, and more efficient operations. Developed by leading technology experts, the Neu-X303mini delivers the latest in edge AI computing power to optimize inventory management, improve customer experiences, and enhance operational efficiencies.

Designed to revolutionize the retail landscape with unparalleled performance in a compact design, the Neu-X303mini is powered by the 12th Gen Intel^® Core™ processor, enabling retailers to process and analyze vast amounts of data at the source with cutting-edge Edge AI computing power. Real-time data processing with the Neu-X303mini gives retailers the actionable insights needed to deliver more immersive customer experiences.

“We are unleashing the power of data intelligence and edge AI computing on behalf of the retail industry,” said Peter Yang, President of NEXCOM. “Businesses that leverage IoT technology and real-time data analytics are already optimizing inventory management and providing lightning-fast checkout experiences to improve customer engagement, including removing the need for barcode scanning.”

The Neu-X303mini is designed for space optimization with a sleek and compact design measuring just 183mm (W) x 137.9mm (D) x 47.9mm (H). The mini powerhouse does not compromise on performance while integrating seamlessly into the retail environment. It delivers uninterrupted operations with Intel^® Iris^® Xe graphics, a powerful platform that offers stunning visuals and compelling 4K content creation and media playback features.

The Neu-X303mini is equipped with 2 LAN ports, 4 USB ports, and 2 USB Type-C ports to support enhanced customer engagement at digital kiosks, box office displays, information stands, bus stop signage, and other mobile transit displays. The comprehensive connectivity options ensure simple integration and use with existing systems and peripherals.

“The NEXCOM Neu-X303min is a game-changer for the retail industry that combines powerful edge AI computing capabilities and a top-of-the-line Intel^® processor to harness the power of real-time data analytics,” said Yang. “Creating enhanced shopping experiences is essential to compete in today’s retail marketplace, and with visual edge computing power, connecting shoppers with immersive advertising, hospitality, and brand engagement experiences is now possible – even within tight retail space limitations.”

Features
● 12th Gen Intel^® Core™ (Alder Lake PS) processor SoC
● Four 4K@60Hz display output, DP, HDMI 2.1 and 2 x USB 3.2 Type-C
● Dual 2.5G LAN ports, 4 x USB 3.2 and 2 x USB 3.2 Type-C ports for easy connection
● Onboard M.2 2280 Key M with PCIe signal for storage modules
● Onboard M.2 2230 Key E for optional Wi-Fi modules
● Compact design (L: 183mm, W: 137.9mm, H: 47.9mm)
● 12V DC in

To learn more, please visit the NEXCOM website.

About NEXCOM
Founded in 1992, NEXCOM integrates its capabilities and operates eight global businesses, which are Industrial Mesh, Intelligent Platform @ Smart City, Intelligent Video Security, Mobile Computing Solutions, Medical and Healthcare Informatics, Network and Communication Solutions, Smart Manufacturing, and Open Robotics and Machinery. This strategic deployment enables NEXCOM to offer time-to-market, time-to-solution products and services without compromising cost.

Peter Yang
NEXCOM
+1 510-386-2266
[email protected]
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By Nantoo Banerjee The United States Trade Representative, Ms. Katherine Chi Tai, may not be fully aware that most of the high-tech mass market electronics gadgets such as laptops, tablets and personal computers under global US brands exported to India are not manufactured in the US. They are built in China by US multinational corporations […]

The post Foreign Tech Firms Find India An Attractive Manufacturing Destination first appeared on Latest India news, analysis and reports on IPA Newspack.

Element Orlando Universal Blvd., a 165-key Marriott International hotel, provides guests immediate access to 20-acre Icon Park and is adjacent to Universal Studio’s 750-acre Epic Universe opening in 2025.

Element Orlando Universal Blvd. a modern, environmentally conscious hotel appeals to active travelers with a comfortable lobby and rooms featuring fully equipped kitchens in spacious studios and suites.

Crescent Real Estate’s acquisition of the Element Orlando Universal Blvd. marks latest addition to Crescent’s expanding premium select-service hotel portfolio.

FORT WORTH, TEXAS, UNITED STATES, September 14, 2023/EINPresswire.com/ — Through its investment vehicle – GP Invitation Fund III, LP – Crescent Real Estate LLC (Crescent) acquired the Element Orlando Universal Blvd., a 165-key hotel operated under a franchise agreement with Marriott International. Located just outside the confines of the mixed-use development known as Icon Park, Element Orlando hotel guests have immediate access to 20 acres of entertainment opportunities.

Comprised of more than 40 restaurants and retail outlets, Icon Park is an open-air complex that is strategically located along Orlando’s International Drive. The 11-mile thoroughfare plays host to Orlando’s primary attractions and is home to some of the world’s top theme parks, the nation’s leading convention center, and the 270-acre Lockheed Martin regional headquarters.

Additionally, on a site adjacent to the Element Orlando hotel, Universal Studio’s 750-acre development known as “Epic Universe” will have a resounding impact on the local economy upon its completion in 2025. While the new theme park will include three separate hotel offerings, the Element Orlando hotel will hold a prominent value proposition in comparison to the room rates commanded inside Epic Universe.

Perfectly suited for this location, Element by Westin, is a modern and environmentally conscious hotel brand designed for today’s healthy, active traveler, catering to both short and longer stays. Rooms feature fully equipped kitchens in spacious studios and suites, spa-inspired bathrooms, and signature Heavenly Beds which provide all guests with serene and comfortable stays. Given its recent delivery to the market, the Element Orlando hotel is one of the newest select service hotels in the surrounding submarket.

As the market fundamentals of Orlando continue to strengthen, the second-largest hospitality market in the country looks to enjoy the tailwinds of the strong tourism industry alongside the reemergence of international travel. The city has been the number one travel destination for close to a decade and has made a quick recovery from the COVID era that hindered the tourism sector. Orlando’s economy extends beyond the tourism industry, with the professional and business services sector employing approximately 251,000 jobs. The area is home to headquarters of more than 60 major domestic companies and hosts operations for over 150 international companies. The Element Orlando Universal Blvd’s superior quality and location is poised to benefit from the continued strong demographic trends in Orlando.

Jason Anderson, Co-CEO of Crescent stated, “Crescent is extremely pleased to announce the addition of the Element Orlando to our growing upscale select-service hotel portfolio. Building a portfolio of exceptional select-service hotels is one of Crescent’s core hospitality strategies and we can think of no better way than to expand our Element ownership following our recent acquisition of the Element Basalt-Aspen.”

“Element Hotels stand out in the select-service space in terms of its high-quality, contemporary design, and we look forward to capitalizing on an asset with minimal capital requirements in such a flourishing area,” Anderson said. “Our prime location along International Drive provides our guests with unparalleled access to the world’s top theme parks, leading convention center, and is directly adjacent to the renowned mixed-use retail and entertainment district known as Icon Park.”

Crescent has engaged HEI Hotels & Resorts, a nationally recognized hotel management firm with extensive experience managing hotels of all categories throughout the United States.

 
ABOUT CRESCENT
Crescent Real Estate LLC (Crescent) is a real estate operating company and investment advisor, founded by Chairman John C. Goff, with assets under management, development, and investment capacity of more than $10 billion. Through the GP Invitation Funds, Crescent acquires, develops, and operates all real estate asset classes alongside institutional investors and high net worth clients. Crescent’s premier real estate portfolio consists of Class A and creative office, multifamily, hospitality, and senior living assets located throughout the U.S., including The Ritz-Carlton, Dallas, and the wellness lifestyle leader, Canyon Ranch^®. For more information, visit www.crescent.com.

ABOUT HEI
HEI Hotels & Resorts, headquartered in Norwalk, Conn., is a leading hospitality investment and management company that owns or operates 100+ luxury, upper-upscale and upscale independent and branded hotels, and resorts throughout the United States. HEI’s branding partners include Marriott, Hilton, Hyatt, IHG, Choice and Wyndham. The company is renowned for its commitment to its associates under the culture of HEI Loves, its revenue management, profit contribution and empirically based real estate value creation, driven by a full complement of proprietary software tools to set and exceed targets on a fully integrated basis. HEI works hand-in-hand with institutional capital partners on existing assets under management as well as sponsored acquisition opportunities. The company has ample equity capital and strategically co-invests with its partners on many transactions. To learn more about HEI, please visit www.heihotels.com.

Dennis Winkler
Crescent Real Estate LLC
email us here

The encounter with terrorists in Jammu and Kashmir’s Anantnag has stretched to the fifth day, with thousands of troops including para commandos locked in an endless gunfight deep inside the dense forests of Gadol. Trained in jungle warfare, the terrorists are making use of the treacherous terrain and forest cover to keep the forces at […]

The post Forces still locked In jungle warfare with terrorists in J&K first appeared on Latest India news, analysis and reports on IPA Newspack.

By K Raveendran Drone cameras at weddings and social events no longer make eyes pop up. But the day may not be far off when your favourite pizza will be delivered to you by a drone rather than the Swiggy rider, adding to the chaotic scenes on the roads as he has to negotiate all […]

The post Delivery Of Packets By Drones May Become Mainstream Sooner Than Expected first appeared on Latest India news, analysis and reports on IPA Newspack.