IIT-B to bid for New York applied science campus

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The Indian Institute of Technology, Bombay (IIT-B) is planning to participate in initiative to set up a new applied science campus in New York City. The institute is one of the several top institutions around the world that has received an invitation from the New York City Economic Development Corporation (NYCEDC) to set up a campus in next month.

The institute selected to set up the engineering and applied sciences campus will get incentives like free city land and as much as USD 100 million in capital for the project.

IIT-B has formed a working group for submitting the proposal and will send it NYCEDC next month.

New York with more than 626,000 students and 39 percent of global market capitalisation is a global business and academic capital.

NYCEDC has stated that with the new educational institution, it seeks to strengthen its applied sciences capabilities, particularly in fields which lend themselves to commercial opportunitie.