The City Innovations Collaborative will be housed in the Taystee Lab Building in West Harlem. Image Credit: Google Maps.
The City College of New York and the Mount Sinai Health System will build new spaces dedicated to startups. Last month, Mayor Eric Adams and the New York City Economic Development Corporation (NYCEDC) directed $15 million to the City College of New York (CCNY) and $11.6 million to the Mount Sinai Health System (Mount Sinai), of a total $1 billion committed to NYCEDC’s LifeSci NYC initiative. Both awards will go towards construction of new spaces geared towards providing startups with resources. Adams and NYCEDC are confident that such startups will benefit the city in turn.
According to NYCEDC, the investment will indirectly create jobs, advance the life sciences, and benefit students, who will have access to cutting-edge research technology if they are involved in a startup. Advances in medical science will also theoretically improve the health of city residents, and incubation of startups is expected to grow the city’s economy.
City College of New York
CCNY’s new incubator, its “City Innovations Collaborative,” will be based in the Taystee Lab Building in West Harlem. It will offer state-of-the-art lab space to commercial and academic life science startups. CCNY hopes that the location will bring new development and medical technology to underserved communities nearby.
“The City Innovations Collaborative is being created as part of City College’s vision to harness its research and innovation capabilities to generate greater positive impact for the communities we serve,” said Andrew Wooten, senior director, innovation management and business development, CCNY. “It will be a physical and virtual workshop where aligned stakeholders can come together to co-create a better future for New York City.”
Mount Sinai Health System
Mount Sinai’s “Comprehensive Center for Surgical Innovation” will be a novel facility on their West hospital campus, located to provide ready access to doctors, surgeons, and patients who can serve as advisors and test subjects. Focusing on medical device prototyping and commercialization, Mount Sinai hopes to bring 10-12 new products to market each year.
“It has been a lifelong dream of mine to build a surgical innovation lab at Mount Sinai to bring surgical discoveries and innovative methods into commercial health solutions that benefit patients. This dream is now a reality thanks to the support of the mayor and NYCEDC,” said Evan Flatow, MD, Bernard J. Lasker professor of orthopedic surgery; president, Mount Sinai West; and director, Comprehensive Center for Surgical Innovation. “The investment in the Comprehensive Center for Surgical Innovation will enable rapid development of new breakthroughs and products, along with new commercial enterprises that result in sustainable job creation and economic growth.”
Continuing Impact
This investment continues Mayor Adams’ work to support the life sciences industry, following partnerships with Taconic, DivcoWest, and New York University announced in his State of the City address this past April.
“When we make strategic investments in our leading institutions, we can drive groundbreaking research, create jobs, and advance treatments, cures, and health care technologies in New York City,” said NYCEDC President and CEO Andrew Kimball. “Under Mayor Adams, we will solidify our city’s place at the forefront of the life sciences sector and lead in making new medical devices to help improve patient care.”
“Life sciences are central to our city’s public health and economic recovery, and we will continue to marshal the resources necessary to grow this industry,” said Mayor Adams.
By: Kyle Hunt (Kyle is a CityLaw intern and a New York Law School student, Class of 2024.)
https://edc.nyc/press-release/mayor-adams-invests-27-million-accelerate-growth-life-sciences-nyc