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The article outlines a competition devised by New York City mayor Michael R. Bloomberg which would allow for the construction of a university dedicated to the study of applied sciences on a site known as Roosevelt Island. Particular focus is paid to the efforts of Stanford University and Cornell University to submit applications for constructing schools that will focus on information technology and business development. Comments from Cornell dean Daniel P. Huttenlocher and Stanford president John L. Hennessy are provided regarding their respective proposals along with an examination of individuals and groups that have sponsored their efforts. Other topics include the lack of technology-focused colleges in New York City and an additional proposal submitted by Columbia University.

The article presents a profile of NYC-Tech, an applied sciences university campus being developed in New York City through collaboration between Cornell University and Technion-Israel Institute of Technology. Particular focus is given to the history of Technion, discussing how its focus on applied sciences has transformed the economy of its host city of Haifa, Israel and its emphasis on developing its students into entrepreneurs. Comments regarding the project, and its potential for developing a Silicon Valley-like industrial center in New York City, are shared by individuals including Technion president Peretz Lavie, professor Paul D. Feigin, and college administrator Oded Shmueli.

The article discusses an effort by New York City mayor Michael R. Bloomberg to spur technological innovation and economic growth within the city through the construction of an applied-sciences research institution sponsored by Cornell University and the Technion-Israel Institute of Technology. According to the article, Bloomberg's initiative is modeled on partnerships between universities and private enterprises in California's Silicon Valley and the Great Boston area of Massachusetts. It comments on the projected timeline for completion and financing of the Cornell-Technion research university, examines the status of Stanford University in applying for entrance into the partnership, and provides comments from University of Washington professor Gina Neff on Bloomberg's plan.