A century after a New York banker donated $100,000 to help establish what would become the Technion-Israel Institute of Technology, his hometown is reaping the benefits of his generosity. Last month the Technion, Israel's oldest university, and Cornell University won a closely watched competition to build an applied-sciences campus in New York City, with a goal of spurring technology-driven economic growth in the city. As part of its winning bid, Cornell and the Technion plan to construct a $2-billion campus on Roosevelt Island, using land donated by the city. The facility, known as NYCTech, is due to open in 2017. The Technion is very much a junior partner in the project. Cornell will shoulder the vast majority of the costs, and Technion faculty members are expected to spend only short amounts of time teaching at the new facility. But tapping into Technion expertise in turning the city of Haifa, where it is based, into the engine of Israel's rapidly expanding high-tech economy is crucial to New York City's dream of fostering the next Silicon Valley. The Technion began as the dream of pre-Israel Zionist leaders who wanted to establish a European-style technical college in what was then Palestine. With money from the wealthy New Yorker, Jacob Schiff, and a Russian tea merchant, the cornerstone was laid in 1912, but classes were delayed by World War I. The college finally opened for classes in 1924 and in nearly 90 years has developed an international reputation for engineering, computer science, mathematics, and chemistry. For NYCTech, the Israeli university will focus primarily on developing the Technion-Cornell Institute of Innovation, the heart of the new campus that will be organized around three interdisciplinary hubs: (1) connective media; (2) healthier life; and (3) the built environment. As part of the institute, Technion and Cornell will design a master's of applied sciences degree to foster study across disciplines. The applied-sciences program will work closely with local industries, based in part on the way the Technion has built tight relationships with corporations in Haifa.