Amsterdam’s prestigious new science institute is to be developed by the Massachusetts Institute of Technology, Delft University and Wageningen University, the city announced on Friday.

The project to set up the ‘Institute for Advanced Metropolitan Solutions’ was head and shoulders above the other short-listed entries, Robbert Dijkgraaf, chairman of the jury, said in a statement.

‘Amsterdam will be getting something really new: a scientific institute of technology which will develop expertise in practical urban issues,’ Dijkgraaf said.

The city council is pumping €50m into the new institute, which is expected to generate hundreds of jobs. Corporate sponsors such as Cisco, Shell, IBN, Accenture, TNO and Schiphol are also involved.