On June 14, 2010, Mayor Michael R. Bloomberg launched the NYC Media Lab to promote innovations in New York's media industry. Situated at the New York University Tandon School of Engineering, the lab is a consortium of Columbia University, New York University, and New York City Economic Development Corporation acting to connect companies with universities in new technology research. The Lab is modeled after similar ones at MIT and Stanford. A $250,000 grant from the New York City Economic Development Corporation was used to establish the NYC Media Lab. Each year, the lab will host a range of roundtable discussions between the private sector and academic institutions. It will support research projects on topics of content format, next-generation search technologies, computer animation for film and gaming, emerging marketing techniques, and new devices development. The lab will also create a media research and development database. Columbia University will coordinate the long-term direction of the media lab as well as the involvement of its faculty and those of other universities.