Gov. Cuomo announces $15 mil in private funding to support women - NEWS10 ABC: Albany, New York News, Weather, Sports

Gov. Cuomo announces $15 mil in private funding to support women and minorities in nanotech industry

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ALBANY, N.Y. – Governor Cuomo announced a privately-funded $15 million fund as part of the Global 450 Wafer Consortium (G450C) headquartered at the College of Nanoscale Science and Engineering on Sunday.

The fund will support specialized education and training programs designed to increase the opportunities for women and minorities, including Minority and Women-Owned Business Enterprises, or MWBE, to take advantage of New York's fast-growing nanotechnology industry.

The announcement comes as construction nears completion on G450C's new headquarters building, NanoFab Xtension (NanoFab X).

Working in partnership with the Greater Capital Region Minority Business Association, CNSE has engaged more than 50 MWBE firms for non-specialized equipment, materials, and labor related to the project.

"Over the past two years, the state has worked hard to ensure that our Minority and Women-Owned Business Enterprises play a leading role in New York's economic recovery," Governor Cuomo said. "This $15 million fund created by leading tech businesses who have chosen New York State to invest in next generation computer chip manufacturing will help create opportunities for students and workers from underrepresented groups to be a part of the state's rapidly growing nanotechnology sector. The College of Nanoscale Science and Engineering has led the way in helping create a high-tech workforce here in New York, and I commend all the corporate partners who joined together to launch this fund that will help ensure the diversity of New York is represented in the nanotech sector."

The education and training initiative is funded by the five leading international companies – Intel, IBM, GLOBALFOUNDRIES, TSMC and Samsung – that are collectively investing $4.4 billion in G450C, which is spearheaded by CNSE and targets the development of the next generation of computer chip technology in New York State. These leading-edge technology advances may facilitate the possibility of building a 450mm chip manufacturing (chip fab) facility in New York, with these plants projected to cost in excess of $10 billion each.

The fund will support the formulation and implementation of the complete spectrum of education and training programs – from elementary education to certificate-level skills training to Master's and doctoral degrees – that target the attraction, retention, training, and re-training of students and workers from underrepresented social groups in science and engineering to enable careers in nanotechnology.

Further, the fund will support the design and deployment of an attraction and recruitment strategy to assist qualified individuals from underrepresented social groups in science and engineering to find employment opportunities within the nanotechnology industry in New York. At the same time, the program is designed to nurture and enhance the capacity and aptitude of minority and women-owned enterprises and companies to compete successfully for business opportunities in the burgeoning nanotechnology industry sector in New York through CNSE- sponsored competitiveness training programs.


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