New York City Mayor Zohran Mamdani has committed $29.2 million to NYU's Quantum Fabrication Facility (QFab) in Manhattan, set to open in 2030. In return, the city gets 15% of NYU's proceeds from intellectual property created with city-funded tools, plus three advisory board seats.
Backed by $284 million in total funding, the new quantum lab will train CUNY students and support more than 100 companies.
This story was reported by The Times of India. Read the full coverage at The Times of India.
