The Rising Tech Scene in NYC: Applied Sciences

by / ⠀Startup Advice / March 7, 2012


“The Rising Tech Scene in NYC” is a 10 part series looking at how New York is stepping up its game in the tech scene. We will look at a variety of ways the city is embracing technology and encouraging companies to setup shop here.

Applied Sciences

Last year Mayor Michael Bloomberg, Cornell University President David Skorton, and Technion-Israel Institute of Technology President Peretz Lavie announced an historic partnership to build a two-million-square-foot applied science and engineering campus on Roosevelt Island in New York City.

The project will be funded with money form the institutions and the private sector along with $100 million from the city. This is just the first announced project as the city says “productive discussions are ongoing with other respondents—Carnegie Mellon, Columbia and a New York University-led consortium—and the possibility of additional science and engineering partnerships in the City is still open.”

Why applied sciences?

This is all you need to know – If companies founded by graduates of the Massachusetts Institute of Technology formed an independent nation, their revenues would make it the 17th largest economy in the world, according to the Kauffman Foundation.

These are the types of companies that New York is hoping to attract and build to support the local economy for decades to come. Think about the next Amazon, Facebook or Google calling New York home rather than Silicon Valley.

The project aims to create over 600+ companies that will generate over 30,000 jobs in the area over the next 30 years.

These are the kind of steps New York needs to take in order to keep the momentum in attracting tech startups and bringing tech jobs to the area.

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