In 2018, Cornell Tech—a graduate school campus of the Ivy League university—was believed to have been a strong factor for Amazon deciding to bring a new headquarters to New York City.
At the time, the school boasted of the creation and investment in more than 50 start-up companies in which over $60 million in investment was raised and hundreds of jobs were created, according to the New York Times.
While the Amazon headquarters was later nixed because of backlash from local politicians, Cornell Tech is continuing to leave its mark on the region—and the world.
The end of this year will mark a milestone for the school—the development of more than 100 companies through its Runway Startups program. In total, the companies have amassed a $660 million valuation and created 500 new jobs in New York City.
“We have really focused on creating a system where we’re not just a university— we are a catalyst of start-up creation on steroids, basically,” says Fernando Gómez-Baquero, the director of runway and spinouts at Cornell Tech.
One of the most successful startups to come out of Cornell Tech is Nanit, a baby sleep monitor that utilizes AI and machine learning technology. The company has sold hundreds of millions in product since its founding—and even Kim Kardashian has used it.
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