Posted on February 20, 2007
New York, NY — The Cooper Union for the Advancement of Science and Art in New York City has officially launched a $250 million capital campaign with a $10 million grant from the Starr Foundation, Crain’s New York Business reports.
The largest grant from a private foundation in Cooper Union’s 147-year history will be used to expand research and innovation in the school’s department of engineering. To date, the school has raised $135 million in the quiet phase of the campaign, which is intended to support student scholarships and faculty, new programs, and help finance a new academic building scheduled to be completed in 2009.
The grant from the New York City-based foundation also reflects growing concern among business leaders about the quality of engineering education in the United States, especially in comparison to nations like China and India. “Technological innovation,” said Starr Foundation chair Maurice “Hank” Greenberg, “is proving to be the key to American competitiveness in our rapidly changing global economy.”