Investing in tomorrow

SciTech City in Jersey City inches closer as Bank of America signs on as founding corporate sponsor

The 30 acre SciTech Scity campus will include laboratories, a public commons, housing and more. The first phase of the project will be completed by late 2022 early 2023.
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The 30 acre SciTech Scity campus will include laboratories, a public commons, housing and more. The first phase of the project will be completed by late 2022 early 2023.

Bank of America has signed on as a Founding Corporate Sponsor of SciTech Scity, Liberty Science Center’s planned 30-acre innovation campus.

According to a press release from LSC, Bank of America donated $1 million to the effort, which will help prepare the scientists of tomorrow with the tools and technologies they need to deal with future crises like the COVID-19 pandemic.

SciTech Scitywill include a science and technology business incubator, research and development laboratories, conference center, five-acre public commons, scholars village residential housing, and science-focused public school.

“The Coronavirus is reshaping our world in ways we could not have imagined, and it is essential to think beyond the current environment and consider future impacts,” said Sheri Bronstein, chief human resources officer at Bank of America and LSC trustee. “Addressing upcoming challenges will require bold, creative solutions across the public and private sectors. Liberty Science Center’s SciTech Scity will help nurture pioneering advancements for the betterment of all.”

“We are grateful to Bank of America for its confidence in our vision,” said Paul Hoffman, LSC president and CEO. “Science and technology are the keys to the economic, social, and intellectual future of our country. With SciTech Scity, we are building a unique campus to foster science and tech entrepreneurship.”

Inventing the future

The SciTech Scity campus will be named the Frank J. Guarini Innovation Campus as the former congressman donated $10 million to the effort last December, LSC’s largest gift.

The science-focused campus will include the existing Liberty Science Center, which is home to the largest planetarium in the Western Hemisphere, as well as new construction that will be built on 12.5 acres of land that Jersey City donated.

SciTech Scity is a “City of Tomorrow,” where companies and researchers will test — and residents and visitors will experience — new high-tech products and services before they come to market, according to a press release from LSC.

It aims to bring together entrepreneurs, scientists, academics, students, and other thinkers and doers “who share Alan Kay’s prescription that the best way to predict the future is to invent it,” said Hoffman.

The first phase of SciTech Scity, which is set to open in late 2022 or 2023, includes three projects: Edge Works, Scholars Village, and a public commons.

Edge Works will be a central location for innovation comprising two distinct hubs, The Works and the Co-Creation Center. The Works will have a fabrication lab, research and development spaces, offices, and co-working areas for start-ups and entrepreneurs. The Co-Creation Center will be a state-of-the-art conference center and tech exhibition gallery.

Scholars Village will consist of resident housing for innovators, scientists, entrepreneurs, STEM graduate students, and individuals and families who desire to be a part of the SciTech Scity community.

The public commons will be five acres of outdoor park space which encourage exploration, creativity, collaboration, and innovation as well as an events plaza for concerts, farmers markets, art exhibitions, and food- truck festivals.

Subsequent phases of SciTech Scity will include expanded incubation space, a science-focused public school, and other facilities to drive STEM innovation and job creation.

More than financial support

In addition to its financial support, Bank of America is also adding to the project’s leadership as their Head of Global Business Services Sumeet Chabria joins the SciTech Scity board of trustees.

Chabria is a thought leader on the impact of artificial intelligence and in this capacity represents the bank at various U.S. government forums and as a member of the Council on the Responsible Use of Artificial Intelligence at the Harvard Kennedy School, according to a press release.

His responsibilities at the bank also include providing scalable and shared technology and operations services to all lines of business, and managing all technology contractors and resourcing vendors.

“Bank of America is proud to be a founding partner of SciTech Scity as it works to invent a better future, today,” said Chabria. “What the Coronavirus has demonstrated is not only the importance of science and technology in our daily lives, but the need for more STEM talent to accelerate the pace of innovation with vision and purpose. SciTech Scity is creating that vision and purpose with a one-of-a-kind environment where science and technology leaders can thrive and achieve their full potential.”

Bank of America joins EY and Verizon as Founding Corporate Sponsors of SciTech Scity.

Other anchor supporters include the city of Jersey City; Joseph D. and Millie E. Williams; LSC Board Co- Chair David Barry; and former Congressman Frank J. Guarini.

To learn more about the project go to https://www.scitechscity.com/

For updates on this and other stories check www.hudsonreporter.com and follow us on Twitter @hudson_reporter. Marilyn Baer can be reached at Marilynb@hudsonreporter.com.