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The grant will benefit 24 students.
Maric said students are eager to create an East Coast equivalent of Silicon Valley.
The institution reopened its doors on Sept. 25.
"The most important priority is to stay healthy and to stay hopeful," said Baston.
The university plans to host STEM-focused student events.
The Regeneron STEM Institute will offer designated Yonkers students the chance to choose a research topic and work with mentors from Regeneron's labs in Tarrytown and other parts of Westchester County.