Mount Sinai receives $5M grant to establish tech institute

The New York City Economic Development Corp. awarded $5 million to the Mount Sinai Health System to help establish the Mount Sinai Institute of Technology (MSIT).

With these funds, Mount Sinai will transform existing space within the Icahn School of Medicine campus into several MSIT facilities. The goal of the institute is “radically transforming biomedicine through the discovery, design, development and delivery of entrepreneurially-driven, technology-based solutions to [address] critical unmet medical needs, particularly in the current era of healthcare reform.”

MSIT will be organized around three primary categories:

• Digital health technologies, including mobile health, wireless health, big data, cloud computing, social networking, scientific computing and scientific and clinical simulation;
• Biologically integrated technologies, including tissue engineering, sensors, microprocessors, robotics, mechatronics, MEMs and microfluidics; and
• Prescription technologies including drug repurposing, drug delivery, nanomedicine and medical devices.

The facility is expected to be completed by the end of 2014.