The two stars posed for pictures backstage and now insiders claim Jay Z has high expectations for his new protege.

A source tells, ''Jay Z is a forward thinking businessman and always wants to be on the cutting edge of music, business and anything else that will make him the entrepreneur that he is - and his next project is Nick Jonas.

"He wants to record with him and he wants (his wife) Beyonce to record with him. He sees Nick as the next Justin Timberlake."

Beyonce headlined her husband's annual Made in America event on Saturday night (05Sep15).

Meanwhile, Jonas is playing down reports suggesting he is dating ex-girlfriend Selena Gomez after they were spotted together at an after-party for the MTV Video Music Awards.

Nick, who dated the Come & Get It star, before she fell for Justin Bieber, admits Gomez recently came to his house for a dinner party, but he insists it was nothing romantic: "I put a dinner together with a bunch of really great people, like the Haim girls, who I love. They're awesome. They're the best. It was a big group of people and we all had a great time. We connect in that sense. It was nice to connect and just catch up. I'll leave it there!"'