2.2: Cornell-Technion Innovation Institute

Introduce Cornell-Technion Innovation Institute on Roosevelt Island

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APPLIED SCIENCES NYC: CORNELL-TECHNION INNOVATION INSTITUTE -- Perhaps nothing has captured the imagination of the technology community as powerfully as the landmark announcement of the new Cornell-Technion Innovation Institute, CornellNYC Tech, to be constructed on Roosevelt Island. In December 2011, Mayor Bloomberg announced that the City would help develop the first initiative in Applied Sciences NYC, the Cornell-Technion Innovation Institute, an historic partnership of two of the world's top institutions in science, engineering, technology and research to build a two-million-square-foot applied science campus on Roosevelt Island in New York City. Responding to resource needs expressed by the rapidly growing technology industry, the campus is expected to host thousands of faculty and students, and the NYCEDC projects that it will lead to the creation of hundreds of new technology companies, generate billions of dollars in new economic activity, spark expansion in under-developed neighborhoods and employ tens of thousands of New Yorkers in a variety of well-paying jobs. The technology community has rallied around the school, which will be led by Dean Daniel Huttenlocher. Dean Huttenlocher has also begun to identify ways in which Cornell-Technion will connect with the local education and technology community. This includes an initiative that will train 200 public school teachers to teach math and science and a mentoring program that pairs local startup entrepreneurs with budding innovators in the Cornell-Technion campus. In addition, it will include a $150 milllion revolving financing fund for NYC-based startups. While the University completes its campus on Roosevelt Island, Google Inc. announced that it would allocate 22,000 square feet of its New York headquarters to CornellNYC Tech, starting July 1, 2012. This donation marries one of the world's most innovative companies with one of the most innovative economic development strategies any city has undertaken.

Stakeholder(s):

• Cornell-Technion Innovation Institute

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