$50 Million Investment from Tata Consultancy Services will Enhance Applied Research at University Campus
NEW YORK | MUMBAI, Dec 4, 2017 —: Tata Consultancy Services (TCS),(BSE: 532540, NSE: TCS) a leading global IT services, consulting and business solutions organization, announced Dec. 4 a $50 million investment in Cornell Tech. The investment includes a significant gift for the first phase of capital development on the Roosevelt Island campus, as well as support for collaborating on technology research and expanding K-12 digital literacy programs in New York City.
In recognition of the gift, Cornell Tech has inaugurated the Tata Innovation Center on Roosevelt Island. The center, formerly known as The Bridge, brings academia and industry together under one roof to share ideas and research on next-generation digital technologies and how to commercialize new areas of collaboration.
“Tata Group and TCS have a long and celebrated history of investments in education and institution building in the communities in which we operate,” said Natarajan Chandrasekaran, Chairman of the Tata Group. “The Tata Innovation Center will drive applied research and collaboration between Cornell, industry and the startup ecosystem in emerging areas including human machine interaction and cyber security, benefitting both US business and local communities.”
“The Tata Innovation Center will become a hub for New York’s tech sector and a global icon for how academia and industry can collaborate to leverage technology for the greater good,” said Martha E. Pollack, Cornell University President. “Cornell Trustee Ratan Tata ’59, BArch ’62 and the Tata family of companies have long supported innovation at Cornell; our new partnership with Tata Consultancy Services will drive innovation at Cornell Tech and help the campus reach its full potential for education, research and societal impact.”
“New York City has been proudly partnering with TCS for years, including their sponsorship of the TCS New York City Marathon, work with local schools, and so much more. TCS’ new partnership with Cornell Tech will help drive New York’s economic competitiveness and advance digital literacy programs to reach even more schools across the city. Through this critical engagement, Computer Science for All, the Tech Talent Pipeline, and more, we are working to keep New York City a leader in the 21st century economy and ensure that everyone has the opportunity to share in the growth and success of the tech industry,” added Mayor Bill de Blasio.
Tata Innovation Center
TCS will become one of the tenants in the Tata Innovation Center, a first-of-its-kind building where an extraordinary mix of cutting-edge companies from diverse industries have the opportunity to work alongside groundbreaking Cornell academic teams. They include recent Cornell Tech graduates seeking to commercialize new ideas and work with start-ups and established companies developing leading edge technologies and products. The building features meeting areas on each level, including a light-filled, multi-level Tech Gallery and a rooftop terrace sheltered by a solar trellis. The building was developed by Forest City New York and designed by WEISS/MANFREDI.
The new Cornell Tech campus on Roosevelt Island opened in September 2017, designed to combine the potential of academia and industry to create pioneering leaders and transformational new research, products, companies, and social ventures.
“TCS has operated in New York City for more than 40 years and invested in many long standing customer relationships and local community partnerships,” said Rajesh Gopinathan, CEO and Managing Director of TCS. “Our joint research with Cornell Tech is designed to fully leverage their campus ecosystem and TCS’ industry leading technical expertise to develop solutions that empower notable transformation and talent development across industries in an era of Business 4.0.”
“Cornell Tech serves as a model for the campus and community of the future,” added Congresswoman Carolyn B. Maloney. “Already, young people are receiving a world class education in computer science and cutting edge training in how to become entrepreneurs. I am delighted that the Tata Innovation Center will stand as a reminder to our community for generations to come of the extraordinary generosity of the Tata Group and TCS, which enables new joint research and K-12 literacy programs. I know this will help lead us into the future.”
“The Tata family and TCS have long been drivers of innovation as one of the world’s leading IT services organizations, and we are thrilled to have their name grace our building and to have them as a tenant,” said MaryAnne Gilmartin, President and CEO of Forest City New York. “The Tata Innovation Center breaks down all barriers to innovation and collaboration, with a diverse group of tenants working alongside groundbreaking Cornell Tech academic teams. The building is a key component of the mission of Cornell Tech and driving economic growth for New York.”
Cutting-Edge Collaborative Research
Cornell Tech’s academic environment encourages tight integration across disciplines, couples fundamental research with practice, and supports societal and commercial ventures alongside education.
A distinguishing characteristic of Cornell Tech’s research is that it engages deeply with external communities, organizations and industry to address real-world problems. TCS will collaborate with Cornell Tech’s world-class faculty on cutting-edge research in human-computer interaction (the convergence of technologies such as Mixed Reality and IoT ineveryday human activities) and cyber security (improving cloud computing security and privacy aspects for a wider Blockchain adoption).
“Cornell Tech stands apart because of our focus on academic excellence, coupled with real-world impact, and this new partnership with TCS will dramatically improve our ability to make a difference, from commercializing research to engaging with public school students across New York City,” said Dan Huttenlocher, Jack and Rilla Neafsey Dean and Vice Provost of Cornell Tech. “TCS shares our vision of ensuring all students and teachers have meaningful engagements with computer science in the classroom, and with their help we will reach even more schools.”
Commitment to K-12 Education
To empower NYC youth to participate and thrive in an increasingly digital world, TCS and Cornell Tech have joined forces to promote the integration of computational expertise in K-12 public education, starting with engagement in NYC School Districts 2 and 30. This multi-year community engagement effort aims to build digital fluency and computational acumen among students, educators and schools in the nation’s largest public school system, with a special focus on girls, minorities and the underserved.
TCS will leverage Cornell Tech’s academic expertise to design education programs that introduce students to new digital technologies such as Artificial Intelligence (AI), Blockchain and Cybersecurity. Cornell Tech will leverage TCS’ industry expertise and host their Ignite My Future in School program for educators across all five boroughs, starting with two school districts from Manhattan and Queens in January 2018. Additionally, TCS will also offer its award winning flagship education program, goIT, to students and schools served by Cornell Tech’s K-12 initiative.
“Cornell Tech and TCS are to be commended on their unique collaboration, particularly in relation to the planned enhancement of computational skills for New York City public school students. Such skills are highly applicable to the digital world in the workplace and in contemporary knowledge transmittal as well as creation. Today’s announcement is indeed momentous,” said Assemblymember Rebecca Seawright.
“When our city’s great institutions partner with our schools, we all win,” said Manhattan Borough President Gale A. Brewer. “I congratulate Cornell Tech and Tata Consultancy Services on their partnership, and look forward to seeing its benefits for New York City’s K-12 students.”
“Knowledge is power and these days digital literacy is proving to be all powerful, “said Council Member Ben Kallos. “I have extreme confidence and very high expectations of this partnership between Tata Consultancy Services and Cornell Tech. This $50 million investment includes advancing digital education in K-12 within New York City schools which will benefit an untold number of young lives and lead to unimaginable innovation from right here in New York City. Thank you to the Tata Group and TCS for collaborating with Cornell Tech for the benefit of New York City’s most precious resource our children.”
About Cornell Tech
Cornell Tech brings together faculty, business leaders, tech entrepreneurs, and students in a catalytic environment to produce visionary results grounded in significant needs that will reinvent the way we live in the digital age. The Jacobs Technion-Cornell Institute embodies the academic partnership between the Technion-Israel Institute of Technology and Cornell University on the Cornell Tech campus.
From 2012-2017, the campus was temporarily located in Google’s New York City building. In the Fall of 2017, 30 world-class faculty and 300 graduate students moved to the first phase of Cornell Tech’s permanent campus on Roosevelt Island, continuing to conduct groundbreaking research, collaborate
extensively with tech-oriented organizations and pursue their own startups. When fully completed, the campus will include two million square feet of state-of-the-art buildings, over two acres of open space, and will be home to more than 2,000 graduate students and hundreds of faculty and staff.
About Cornell University
Cornell University is a world-class research institution known for the breadth and rigor of its curricula, and an academic culture dedicated to preparing students to be well-educated and well-rounded citizens of the world. Its faculty, staff and students believe in the critical importance of knowledge—both theoretical and applied—as a means of improving the human condition and solving the world’s problems. With campuses in Ithaca, New York, New York City, and Doha, Qatar, Cornell is a private, Ivy League research university and the land-grant institution of New York State.
About Tata Consultancy Services Ltd. (TCS)
Tata Consultancy Services is an IT services, consulting and business solutions organization that delivers real results to global business, ensuring a level of certainty no other firm can match. TCS offers a consulting-led, integrated portfolio of IT, BPS, Infrastructure, Engineering and Digital services. This is delivered through its unique Global Network Delivery Model™, recognized as the benchmark of excellence in software development. A part of the Tata group, India’s largest industrial conglomerate, TCS has over 389,000 of the world’s best-trained consultants in 46 countries. The company generated consolidated revenues of U.S. $17.6 billion for year ended March 31, 2017 and is listed on the BSE Limited and National Stock Exchange of India Limited. For more information, visit us at www.tcs.com.
Cornell Tech Media Contact: Jovana Rizzo, email@example.com, 646-452-5637