If New York City hopes to maintain its international reputation as a technological powerhouse, then it must recognize and accelerate the vital role international collaboration plays in its progress. Cornell Tech and the Joan and Irwin Jacobs Technion–Cornell Institute on Roosevelt Island make clear the undeniable local and global benefit of academic collaboration across borders and how its impact extends far beyond the sum of its parts.
In 2010, when the city requested proposals from leading universities to create an academic hub focused on applied sciences, entrepreneurship and job creation, Cornell University and the Technion–Israel Institute of Technology answered the call. In 2011, the world-class partnership won the project with the intention to inject the city with a ripple effect of economic benefits for years to come.
Since Cornell Tech opened in 2012, the economic contribution of the Cornell-Technion partnership has been undeniable: Its incubator programs have produced 130 high-tech startup companies, 94% of which still operate in New York. At the start of 2026, Cornell Tech startups have a combined enterprise value of $1.3 billion, have raised more than $500 million in venture capital, and have created more than 1,000 New York City jobs.
Considering that most companies require four to five years of momentum before finding long-term success, Cornell Tech startups are exceeding industry standards, and we expect several years of growth from our alumni ventures as we fund more each year. In 2025 alone, we doubled the number of applications for the Jacobs Institute Runway Postdoc Startup Program, a one-of-a-kind startup incubator focused on turning academics into entrepreneurs.
Cornell Tech’s economic impact on New York City in 2024 was $768 million. By 2030, Cornell Tech is projected to have 2,300 alumni, a $1.5 billion impact on the city economy and create 7,000 jobs annually. Those alumni alone are expected to generate $956 million in economic output.
While the data speak for themselves, the overarching impact of Cornell Tech reaches far beyond valuations, patents and revenue. Between research projects dedicated to improving the lives of New Yorkers specifically—and community partnerships aimed at cultivating citywide interest in science and technology—few academic institutions are like Cornell Tech, built on the expectation to positively shape the city in which it is based.
The Technion’s participation in this partnership is particularly valuable when considering the role of artificial intelligence across all sectors of society. Technion faculty at the Jacobs Institute bring professional experience in the private sector, transforming their research into real-world impact. Israel is the hardware capital of AI, where chips are designed in Haifa by Technion alumni at Intel. Cornell Tech students have access to global leaders like Uri Weiser, an early AI visionary in Israel who now teaches in New York City on the Roosevelt Island campus. Our Israeli colleagues and students also bring a dedication to entrepreneurship informed by their foundation in Startup Nation.
International voices are the lifeblood of this partnership and the very foundation on which it was built. While we have seen a steady increase in American applicants, most of our community joins us from around the world—from the Technion and beyond. Our diversity strengthens us, and without each of our unique perspectives, we likely would not see the same level of impact that Cornell Tech has already had on the city.
When every New Yorker feels empowered to harness their curiosity and turn it into impact, our community grows stronger. New startups unlock jobs that allow individuals to support their families; young people feel empowered to explore a new path for their future, and research findings can be turned into strategies that have material benefits for the community.
New York is a global city, and Cornell Tech is an intentionally multicultural campus. To maintain the city’s reputation as a center of high-tech innovation with a wealth of economic opportunities geared towards the 21st century, we must lean on its strengths and recognize where we can close gaps in our knowledge. For Cornell Tech, an international partner like the Technion brings world-class expertise in rapid innovation and growth.
Together, we will shape the next generation of visionaries and entrepreneurs who will carry New York City forward.
