The campus is expected to generate nearly 600 spin-off companies over the 99-year projection period, which are expected to create up to an additional 30,000 permanent jobs.

New York City’s Roosevelt Island will be home to a $2bn university built by Technion, the Israel Institute of Technology, and US-based Cornell University with a $150m revolving credit line to help incubate high-tech start-ups. The partnership won the Applied Sciences NYC initiative against competition from Stanford University, which dropped out at the last minute,…

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