This week, Cornell University upped the bracket on its bid to build a new applied science campus in New York by joining forces with the Technion-Israel Institute of Technology. If chosen by the Bloomberg administration, the schools would create the Technion-Cornell Innovation Institute in which Cornell would own the campus and it cost more than $1 billion. According to Crain’s New York Business, the 50-50 collaboration proposes a graduate program that will be “focused on commercialization in areas where the city has a competitive advantage, such as mobile and social technology, health care, the built environment and finance.”
Beginning in 2012 with a full-scale campus in the city, the institute would then spread to a Roosevelt Island campus that would accommodate 2,000 gradate students. The courses required would prepare students for entrepreneurship, to be early-stage investors and provide expertise in the tech industries.