14 DAY TRIAL // People might not know it, but broadband in the US, especially in university campuses, works at an average 5 Mbps.
In order to make broadband run faster, Gigabit Squared, a broadband development startup, and university coalition Gig. U have set up a plan.
Called Gigabit Neighborhood Gateway Program, it involves a $200 million investment (159.27 million Euro).
Between November 2012 and March 2013, that money will be used to set up internet connections 100 to 1,000 times faster than the current ones. Up to six Gig. U universities will benefit, at first anyway.
“Gigabit Neighborhood Gateway Program is a compelling public/private model because both sides are able to leverage the contributions of the other, enabling projects that would not have been completed otherwise. It is a well-conceived and innovative initiative,” said Aaron Gadouas, senior vice president of the investment firm Stern Brothers & Co.