Citigroup Inc. (Citi) announced, in a press release CoinReport received, a partnership with acclaimed graduate institution Cornell Tech to engage with Cornell University researchers, faculty, students, startups and other companies and form closer bonds between industry and academia.
Citi’s presence at the Cornell Tech campus on Roosevelt Island will anchor the collaboration, said the release, adding that 10,900 square feet in The Bridge at Cornell Tech has been leased from Forest City New York by Citi, which is the only bank in the building. The Bridge is a first-of-its-kind building for innovation that assembles Cornell Tech campus residents to promote a culture of co-creation and collaboration.
Citi head of operations and technology Don Callahan said on the occasion, “Co-locating in The Bridge with companies, entrepreneurs and students will create an energized environment that fosters innovation and enables interaction with a wide range of emerging talent.
“As a firm headquartered in New York City, we are excited to be a part of this initiative with Cornell Tech that will develop and strengthen the City’s technology talent and industry.”
Citi will utilize the proficiency of Cornell Tech faculty and students to work closely on new capabilities and emerging technologies such as distributed ledger or blockchain technology, biometric authentication, machine learning and big data applications, cyber security, and Internet of Things.
Thanks to the collaboration, faculty and students will get the opportunity to work with Citi in discovering real-world solutions for Citi’s customers and clients, via Product Challenges in Cornell Tech’s Product Studio class, where teams of students create innovative digital solutions working with nonprofits and firms.
Through the Citi Ventures University Partnerships program and other similar programs, Citi teams will engage with Cornell Tech students in activities like design sprints and hackathons to build, test and incubate new prototypes and ideas that can produce organic growth for Citi.
Moreover, the Citi Foundation will keep working with Cornell Tech through their shared backing of the Women in Technology and Entrepreneurship in New York (WiTNYC) initiative, a program created to meaningfully increase women’s participation in tech fields in the New York market.
About 70 to 80 employees will be accommodated by Citi in this facility. The employees will be responsible for safeguarding information of the bank’s clients, partnering with startups on innovative technologies and advancing the banking experience of the bank’s customers. The flexible work environment will push collaboration between Cornell Tech faculty and students, Citi employees and other corporate tenants. Citi employees will move into The Bridge during 2018’s first quarter of 2018.
Cornell Tech Dean Dan Huttenlocher commented, “Bringing together industry leaders like Citi and our pioneering students and faculty focusing on key problems and opportunities of the digital age is part of Cornell Tech’s lifeblood.
“Collaborations like this one will bring The Bridge and the entire campus to life when we open on Roosevelt Island this fall.”
Forest City New York president and CEO MaryAnne Gilmartin stated, “Dedicated to uncovering emerging technologies and creative results for their clients and customers, Citi is a great fit for the dynamic environment at The Bridge at Cornell Tech.
“All under one roof, Citi will have easy access to Cornell University students and faculty, inspiring deep innovation.”
Citi’s presence in New York City includes numerous office locations, its branch network and approximately 16,000 employees.
CBRE’s Mary Ann Tighe, Ross Zimbalist, Evan Haskell, Sacha Zarba, Evan Fiddle and David Caperna brokered the lease on Forest City New York’s behalf.
Logos of Cornell Tech and Forest City – Courtesies of their respective organizations via PR firm Berlin Rosen