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New York is vying to become global high-tech hub

New York City is seeking to overtake Silicon Valley as the nation's top technological hub, putting its hopes in a $2 billion research campus planned for an island on the East River... The idea is to create an applied-sciences university where engineers are also trained as entrepreneurs from day one. Proponents say New York, home to powerful global companies and now exploding with technological startups, could shift this sector into top gear if the latest findings went straight into new businesses.

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