Stanford University now knows it has formidable competition for establishing a New York City-supported science and technology innovation hub, with the revelation that Cornell University and Technion-Israel Institute of Technology have joined forces in their bid for the high-profile project. Cornell already has deep connections to New York, with a network of 50,000 alumni and a New York City-based medical school. Technion-Israel, a major force behind Israel’s technology economy, is a world leader in computer science, engineering, and tech transfer. “By joining forces in this groundbreaking venture, our two great universities will employ our demonstrated expertise, experience, and track record of transforming new ideas into solutions to create the global avenues of economic opportunity and tech leadership that Mayor Bloomberg envisions,” according to David Skorton, Cornell’s president.

For its part, Stanford plans for a 10-acre site in New York City, committing $1 billion to $2 billion for graduate-level applied math, science and engineering. The proposed campus is designed to allow Stanford greater access to an urban world rich in art, finance, drama, music, high-end media, deep-pocketed philanthropy, East Coast faculty, and diverse students, according to university president John Hennessy. Already, Stanford faculty have submitted ideas for programs ranging from sustainable urban planning to financial math and engineering.

New York City Mayor Michael Bloomberg prompted the competition by seeking to diversify the city’s economic base and make technology a broader part of New York’s economy. For the new Roosevelt Island campus, leased for $1 a year, Bloomberg is seeking a university that has a track record of creating new companies and jobs. About two dozen other universities have expressed interest in establishing campuses, but none has the firepower of Cornell, Technion, or Stanford. Final bids are due October 28, and a decision is expected by the end of the year.

Source:  San Jose Mercury News

Posted October 26th, 2011 under Tech Transfer

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