IIT-Mumbai, Amity submit bids for engg campuses in New York

The city received seven proposals from a total of 17 institutions.
Name of the institute selected to set up the engineering and applied sciences campus would be announced in January after an extensive selection process that will choose a project which generates the greatest benefit to the city and its taxpayers, Bloomberg said in a news conference here.

The winner of the 'Applied Sciences NYC' initiative will get incentives like free city land and as much as USD 100 million in capital for the project.

IIT Mumbai is part of a consortium that includes New York University, University of Toronto, UK's University of Warwick, City University of New York and Carnegie Mellon.
The consortium is proposing to set up a centre for urban science and research in downtown Brooklyn for more than 500 graduate students.

Amity University has submitted a proposal to set up a campus in Governor's Island near here.

The other institutes that responded to the Applied Sciences 'Request for Proposals' include Steiner Studios, Columbia University, Cornell University, Technion-Israel Institute of Technology, New York Genome Center, Mount Sinai School of Medicine, Rockefeller University, SUNY Stony Brook and Stanford University.

"Universities are always a major magnet for talent – and the world's most dynamic companies always gravitate to places where they can find the best and the brightest," Bloomberg said.

"Along with everything we are doing to diversify and strengthen our economy, a new applied sciences campus has the potential to be a real economic game changer that will create jobs immediately, and for generations," he added.

Bloomberg had in July this year invited proposals from universities, institutions and consortiums to develop and operate a "new or expanded state-of-the-art" campus in the city dedicated to engineering and the applied sciences.

The proposals submitted contain plans for new facilities ranging from 400,000 square feet to over two million square feet.

The institutions propose private investments of more than USD 800 million in the first phases of their projects and this could be increased to USD 2.5 billion over the long-term.

Proposals feature plans for new labs, classroom and research space, new public open space and space for companies that will spin out from these institutions.

The new campus would focus on areas of information technology, digital media, sustainable urban growth, electrical engineering, public health, genome sequencing and computer science.

An economic analysis by the New York City Economic Development Corporation (NYCEDC) earlier this year had projected that the engineering and applied sciences campus will help generate an estimated USD six billion in overall economic activity across the city over the next 35 years, with hundreds of new companies spinning out of the school directly.

In addition, it will help create more than 30,000 permanent and construction jobs for New Yorkers at a variety of skill levels, and roughly USD 1.2 billion in direct and indirect taxes for the city.

The proposals will be evaluated by the city as well as an advisory committee over the next several weeks.

The committee comprises experts from the academic, civic and business sectors, including Princeton University's Executive Vice President Mark Burstein, NYSE Euronext CEO and Director Duncan Niederauer, CEO of Vedanta Capital and New Silk Route Partners Parag Saxena and National Academy of Engineering President and President Emeritus of Massachusetts Institute of Technology Charles Vest.

After the selection and other negotiations, the project could break ground as early as next year.

"Innovation is critical to the city's economic future, and with these strong proposals, we are now well-positioned for a quantum leap in our competitiveness," NYCEDC President Seth Pinsky said.

"We are one step closer to making New York city the indisputable leader of innovation for the 21st century".

The university or a consortium will be selected on factors like ability of the facility to create jobs, develop a financially self-sustaining campus and increase global competitiveness of New York city.

The committee will also take into account the institute's proposed community relations and  partnerships, including programmes that they intend to undertake to connect with residents locally and citywide.

Once selected, the institution will be expected to comply with deadlines and other requirements related to construction timelines, number of enrolled students and dedicated faculty members as well as establishment of applicable academic and research programmes.