The SUNY Board of Trustees approved a $25 million loan to SUNY Polytechnic Institute (a merger between the former nano college in Albany and SUNY IT in Utica) to “get its house in order following the departure of founder Alain Kaloyeros last year. Kaloyeros was the driver of this initiative in economic engagement through computer chip research and development. SUNY PI currently has an interim president, Bahgat Sammakia. Kaloyeros denies the charges made against him and is in limbo until the Federal Court acts on his petition to have the charges against him dismissed or he faces trail that is scheduled to start next year.
Kaloyeros was the creator of SUNY PI and the driver of its academic and economic growth fueled “by its economic development and research partnerships, which bring in grants and revenue from private companies and the state”.