NYU & CUNY Create Virtual Reality Lab at Brooklyn Navy Yard
New York University's Tandon School of Engineering and CUNY's Lehman College in the Bronx have been selected to create and operate a new virtual reality and augmented reality center at the Brooklyn Navy Yard. As reported byy Crain’s NY, the City's Economic Development Corp., in conjunction with the Mayor's Office of Media and Entertainment, have designated the two schools to partner in creating the first ever publicly funded virtual reality and augmented reality center in the United States. VR refers to a fully immersive simulated experience, whilst AR utilizes like technology to layer computer-generated simulations onto the user's view of the material world.
Tandon School of Engineering has been granted a $6 million investment to build and operate the new lab, with the objective to generate over 500 new jobs throughout the next 10 years, and hopefully grow the city's reputation in the industry. Lehman, which recently opened its own VR/AR Training Academy and Development Lab, with mostly private funding by EON Reality, will serve as a workforce development center. In light of New York’s diverse workforce and the variety of industries located in the city, it is poised to easily become a leader in the sector, officials said.
"The world of VR/AR is growing at breakneck speed, and the implications for businesses across New York City are incredibly exciting," said Julie Menin, Commissioner of the Mayor's Office of Media and Entertainment. "This new facility will ensure that we're doing our part to spur innovation, create talent pipelines and make New York City the home of these emerging industries."
The industry has been propelled with almost $3 billion in private investments across the country over the past two years, as per a Citigroup report in 2016. The report estimates that globally, by 2035, the VR/AR field could grow to $2.16 trillion, as more markets begin to take advantage of the technology for their own applications. The project’s goal is to provide work space and an early investment for new ventures. With a bit of luck, other interested parties and investors will take notice and follow suite to create the success that the city is striving for.
"The virtual and augmented reality industry is booming, and the de Blasio administration is committed to making it a major job creator in New York City," said James Patchett, the EDC president. "By fostering the industry's growth with a central hub, we can support startups, fuel innovation and connect New Yorkers to the training and opportunities they need to access good jobs."
Virtual reality lab in Brooklyn, an NYC-NYU joint project, to open in late 2017