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Mount Sinai Receives $5 Million in Funding from the NYC Economic Development Corporation to Establish New Institute of Technology
Date:12/4/2013

New York, NY (PRWEB) December 04, 2013

The leadership of the Mount Sinai Health System joined city officials to announce $5 million in funding from the New York City Economic Development Corporation (NYCEDC) toward the establishment of the Mount Sinai Institute of Technology, or MSIT. The funding will be used to transform existing space on the campus of the Icahn School of Medicine at Mount Sinai – the academic medical institution of the Mount Sinai Health System – into several facilities for MSIT, with the overarching goal of radically transforming biomedicine through the discovery, design, development and delivery of entrepreneurially-driven, technology-based solutions to critical unmet medical needs, particularly in the current era of healthcare reform. The new facility’s anticipated completion date will be in the latter part of 2014.

New degree offerings related to MSIT commenced during the 2013-14 academic year.

Dennis S. Charney, MD, Anne and Joel Ehrenkranz Dean, Icahn School of Medicine at Mount Sinai and President for Academic Affairs for the Mount Sinai Health System was joined by Geoffrey Smith, JD, the founding Director of the Mount Sinai Institute of Technology and a Professor in the Department of Health Evidence and Policy at the Icahn School of Medicine at Mount Sinai, and Robert K. Steel, Deputy Mayor for Economic Development of the City of New York, along with Kyle Kimball, President of the New York City Economic Development Corporation.

The joint announcement was made during an event hosted by NYCEDC on the grounds of Rockefeller University on Manhattan’s Upper East Side.

“This is another milestone in Mount Sinai’s evolution from a stand-alone hospital founded more than 160 years ago to the world-class academic medical center it is today,” said Kenneth L. Davis, CEO and President of the Mount Sinai Health System. “To our physicians, researchers and students, the word ‘innovat
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