  We consider the energy critical Schrodinger map to the 2-sphere for
equivariant initial data of homotopy number k=1. We show the existence of a set
of smooth initial data arbitrarily close to the ground state harmonic map in
the scale invariant norm which generates finite time blow up solutions. We give
a sharp description of the corresponding singularity formation which occurs by
concentration of a universal bubble of energy. The concentration rate is given
by $$\lambda(t)=\kappa(u)\frac{T-t}{|\log (T-t)|^2}(1+o(1))$$ for some
$\kappa(u)>0$. The detailed proofs of the results will appear in a companion
paper.
