NYC lures top-tier universities in bid to surpass Silicon Valley

New York City is vying to attract top-tier universities and surpass California’s Silicon Valley in terms of technology start-ups.

In a 19 July speech at the Crain’s New York Business conference, NYC Mayor Michael Bloomberg announced that the city was offering universities elsewhere the opportunity to obtain prime New York City real estate at virtually no cost, plus up to $100 million in infrastructure upgrades, in exchange for their commitment to build or expand a world-class science and engineering campus in the city.