Technion-Cornell Innovation Institute Receives $133m. Gift

Dr. Irwin Mark Jacobs, Founding Chairman and CEO Emeritus of Qualcomm, and his wife Joan Klein Jacobs have announced a $133-million gift to Cornell University and the Technion-Israel Institute of Technology to create the Joan and Irwin Jacobs Technion-Cornell Innovation Institute (JTCII). The JTCII is a key component of Cornell Tech, whose permanent campus will be located on Roosevelt Island (New York City). The funds will help support curriculum initiatives, faculty and graduate students, and industry interactions in a two-year graduate program.

The JTCII plans to offer a two-year interdisciplinary program where students earn dual master degrees concurrently – one from Cornell and one from the Technion. This degree program will allow students to specialize in applied information-based sciences in one of three hubs focused around leading New York City industries – Connective Media, Healthier Living and The Built Environment – while honing their entrepreneurial skills. The first area of specialization will be in Connective Media and is slated to begin in the fall of 2014. Research will also be focused on the hub areas.

The Cornell and Technion partnership was selected in December 2011 by New York City as the first winner of the Applied Sciences competition. When completed, the Roosevelt Island campus will house approximately 2,000 full-time graduate students.