Mumbai: Indian Institute of Technology in Mumbai has been invited by the New York City Economic Development Corporation (NYCEDC) to submit a proposal to set up a new campus for Applied Science courses.

IIT-B has formed a committee to finalise a proposal which is expected to be sent to New York next month.

Professor Subhasis Chaudhuri, Dean, International Relations of the IIT-B said that the institute received NYCEDC invitation three weeks back and if the proposal is selected, the Corporation would provide capital to set up the campus and provide land.

But later on the centre will have to sustain on its own, he said.

The proposal is at a nascent stage and it is too early to talk about and the internal discussions is on. However, IIT-B is seriously considering the proposal, Chaudhuri said.

NYCEDC has made similar proposals to several top institutions around the globe bidding for the same project.

NYCEDC is offering a unique opportunity to develop a premier science and research facility and campus in the City of New York, according to its website. The last date for submitting the proposals is March 16.

In a City with more than 626,000 students and 39 per cent of global market capitalisation, it is a business and academic capital, both nationally and internationally.

In order to maintain a diverse and competitive economy, the City seeks to strengthen its applied sciences capabilities, particularly in fields which lend themselves to commercial opportunities, the Corporation said.

Tags: IIT, IIT Bombay, IIT campus