NY universities fail to harness research for jobs

New York’s universities and hospitals excel at winning federal grants but flunk at turning their research into job-creating start-ups, a new report found on Monday.

New York City Mayor Michael Bloomberg and Governor David Paterson have launched initiatives to match the high-tech research corridors developed by other states and cities, from Boston to California’s Silicon Valley. But New York’s institutions have focused on working with companies located elsewhere, the study said.

New York’s universities and teaching hospitals have underfunded engineering and failed to encourage professors or students to become entrepreneurs, according to the report by the Center for an Urban Future http://www.nycfuture.org/.

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