has announced a $100 million challenge gift to its from Chandrika and Ranjan Tandon.
The gift will enable the school — which will be renamed the Tandon School of Engineering — to further enhance programs for which it is already recognized, including wireless, cybersecurity, and digital education and gaming; boost programs in bioengineering, digital media, urban issues, and materials; enhance interdisciplinary programs such as financial engineering, technology management and innovation; and hire new faculty. The university also has agreed to a challenge from the donors to raise an additional $50 million for scholarships.
Engineering was restored to NYU in 2014 after a forty-year absence when the school merged with Polytechnic University. Since its affiliation with Polytechnic began in 2008, NYU has invested $100 million to improve facilities, hire faculty, boost admissions, and expand the school's fundraising efforts. It also has established the related Center for Urban Science and Progress.
A former partner at McKinsey and Company, Chandrika Tandon is a Grammy-nominated musician, chair of Tandon Capital Associates, a member of the boards of NYU and its business school, and head of the NYU President's Global Council. Ranjan Tandon, an engineer by training, is founder and chair of Libra Advisors.
"Getting to know the engineering school was truly electrifying," said Chandrika Tandon. "The imagination and inventiveness of the students and faculty as they worked together on real-world problems; the cutting-edge work being done both within the school and collaboratively across schools in such diverse areas like the arts, medicine, education, incubators; the entrepreneurial spirit that pervades the place — all this inspired us so. We truly believe that these students with the benefit of NYU’s global vision will make the world a better place."