Geoff Smith and MSIT were recently covered in and article on New York's biotech beginnings:
“What's new is that now we're trying to retain the commercial value of our brains here,” added Geoffrey Smith, director of the Mount Sinai Institute of Technology and a professor in the Department of Population Health Science and Policy at the Icahn School of Medicine at Mount Sinai. “The commercial strength of our biology has been overlooked because of the strength of the financial services. We're in the conversation now as a place that this is happening.”
See http://www.nature.com/scibx/journal/v7/n21/full/scibx.2014.603.html for the full article.