Cornell is joining with The Technion, the Israel Institute of Technology, in its bid to create a NYC Tech Campus on Roosevelt Island, the city just announced.
Cornell and The Technion are competing with Stanford to win rights to the space.
The plan: “to create a world-class applied science and engineering campus in New York City.”
The purpose of the campus will be to “spur innovation and commercialization” – much the same way Stanford does in Silicon Valley and San Francisco.
Cornell are alumni fighting hard for the win. Four of them – Danny Stein, Gus Warren, Jeremy Snepar and Keith Grossman – launched an online petition that rounded up 7,500+ signatures.
Never heard of the Technion? Here’s how it describes itself in a press release:
Technion is a global leader in applied research, technology transfer and commercialization and a major force behind Israel’s emergence as the home of one of the greatest concentrations of high-tech start-up companies anywhere in the world. In partnership with a strong community of incubators, private investors, venture capitalists, angel groups and entrepreneurs, the Technion’s tech transfer arm, Technion Technology Transfer (T3), has filed 300 average annual patents and nurtured scores of innovative startups in sectors such as clean-tech, cell therapy, drug delivery, nanotechnology and others. Companies including Intel, Google, Microsoft, IBM, Qualcomm, Broadcom, Yahoo! and Hewlett-Packard have established their operations near or on the Technion campus, where they can take advantage of the Technion’s research power and outstanding students and graduates.
Technion graduates head 59 of 121 Israeli companies on the NASDAQ, and these companies have a combined market value of over $28 billion. More than 70 per cent of Technion graduates are employed in the high technology sectors that drive Israel’s economic growth. Today, Israeli companies headed by Technion graduates employ 85 per cent of Israel’s technical workforce. And the Technion also has an established presence in New York City with the American Technion Society (ATS) , which maintains a national network of thousands of alumni and supporters and has raised more than $1.65 billion since its founding in 1940, the majority raised in the last decade.
CORRECTION: An earlier version of this post said that Cornell had won the competition and that Stanford was out. We reported this because BerlinRosen Public Affairs’s press release read that way. We apologise for the confusion. It says, for example, “The partners will be joining in a full-scale campus – not a satellite of either school – to open in 2012, initially in either leased space or existing Cornell facilities in New York City.” Not true.