The creation of INDEX was announced January 3, 2006 by then-Governor George E. Pataki, then-Senate Majority Leader Joseph L. Bruno and Assembly Speaker Sheldon Silver. The INDEX institute focuses on cutting-edge research in the field of nanotechnology, including the development of nanomaterials, fabrication technologies, nanochip designs and architectural integration schemes for realizing the computer nanochip designs of the future.
As of January 2011, more than $500 million in public and private funding supports the project, with New York State committing matching funds to help INDEX establish the scientific, technical and manufacturing infrastructure, as well as train the educated work force necessary to allow New York to compete globally in the field of nanotechnology. Extensive funding is also provided by the federal government, semiconductor equipment manufacturers and semiconductor material suppliers.
The institute is the result of a joint effort by the Semiconductor Industry Association (SIA) and the Semiconductor Research Corporation (SRC) to create the “Bell Labs for the 21st Century” through partnerships between the nation’s premier research universities and the world’s leading semiconductor research, development and manufacturing companies.