NY State Provides $2 Million Grant
to Polytechnic Institute of NYU to Serve as Hub for New York City’s First Center of Innovation for Technology and Entertainment (CITE)
Incubator for Students, Faculty, Researchers from the Private Sector Will Generate New Products and Companies for New York City.
NEW YORK – October 28, 2008 – Polytechnic Institute of NYU and President Jerry M. Hultin welcomed New York State Senator Martin Golden for a ribbon cutting ceremony on October 27, where the Senator announced a $2 million state grant to fund New York City’s first Center of Innovation for Technology and Entertainment (CITE).
The Center will serve as an intersection between entertainment, media, and technology for students, faculty, and researchers in the private sector, creating new products, patents, and businesses.
According to Senator Golden, the Center will "produce new technologies" and create "businesses and jobs which will enrich Brooklyn and New York City," while spurring further innovations at a critical economic time.
"This investment in funding will give New York City exactly what it needs to maintain it’s leading role as an innovative source of the new media and technology that is rapidly changing how the world communicates," stated Senator Golden.
Polytechnic President Jerry M. Hultin stated, "It is with much pride that we at NYU-Poly carry on the historic tradition of great universities playing a major role in innovative and entrepreneurial activities that will keep society flourishing and growing." He added that the Center "will contribute to the economic growth and intellectual vibrancy of New York City."
Hultin explained that CITE is the first step towards the broader objective of the creation of the Brooklyn Media Research and Development Center, which will be one of the nation’s premier media and entertainment centers based in New York City.