Cornell Tech today announced a $50-million gift from Business Council member Verizon for the development of one of the innovative aspects of its Roosevelt Island campus, the Verizon Executive Education Center.
The center will be part of the first phase of the campus, which began construction last month and is due to open in the summer of 2017. When fully completed, the campus will include two million square feet of state-of-the-art buildings, more than two acres of open space, and will be home to more than 2,000 graduate students and nearly 280 faculty and staff.
“This is a transformative gift that will help enormously to advance our mission of bringing academia and industry together,” said Cornell University President David J. Skorton. “The campus will welcome everyone interested in using technology to advance the economy and to make the world a better place, and the Verizon Executive Education Center will be at the center of it.”
Cornell Tech is a revolutionary model for graduate education that fuses technology with business and creative thinking. Cornell Tech brings together like-minded faculty, business leaders, tech entrepreneurs and students in a catalytic environment to produce visionary ideas grounded in significant needs that will reinvent the way we live.
Cornell Tech’s temporary campus has been up and running at Google’s Chelsea building in New York City since 2012, with a growing world-class faculty, master’s and PhD students, and postdocs who work with tech-oriented organizations and companies and on their own startups.
“Our donation to Cornell Tech is an investment in the future and fits perfectly with our mission to use communications technologies to solve big challenges and make people’s lives better,” said Verizon Chairman and CEO Lowell McAdam. “The Verizon Executive Education Center will be a magnet for developers, entrepreneurs, educators and innovators across all industries, building on the great talent and creativity we already have in the tech sector in New York City.”
In addition to the Verizon Executive Education Center, the first phase will include the First Academic Building with an open plan and collaborative work spaces, taking its cue from the tech world. It is designed to be among the largest net-zero energy buildings in the United States, with all of its power generated on campus. A corporate co-location building will also be located on campus. The co-location building will fuse academia and industry by providing space for established tech companies and startups to locate on campus. A residential building will be constructed for faculty, staff and students to ensure the campus is active 24/7.
To read the complete announcement from Cornell Tech, please click here.