December 15, 2011

Cornell Reveals $350 Million Donation for NYC Tech Campus

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Cornell revealed a $350 million anonymous donation, the largest in University history, in support of its bid for a tech campus in New York City on Friday hours after Stanford, widely perceived as the University’s main competition for the campus, unexpectedly withdrew its proposal.

“I am thankful and proud that this extraordinary individual gift will support Cornell’s goal to realize Mayor Bloomberg’s vision for New York City,” President David Skorton said in a press release.

Cornell’s fundraising edge was a factor in Stanford’s decision to withdraw its bid, The New York Times reported, citing anonymous sources.

“At Cornell, our entire community has come together, in a way that happens only so often in an institution’s history, with winning ideas, energy and the creativity that the Mayor’s challenge deserves,” Skorton said. “Our proposal for a multidisciplinary institution combining world class applied science research, entrepreneurship and commercialization will accelerate New York City¹s transformation into a world leader in technology innovation.”

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Original Author: Jeff Stein