Tech hub presents blueprint to power key industries of the future

In late February 2024, 31 Tech Hub designees submitted a Phase 2 application, sharing a bold vision to transform their region into a globally competitive and important technology hub.

Today, EDA updated its website with extensive details about each of the 31 Designee proposals. Each Hubs program reflects its own technology and industry focus, but is unified by the goals of the Tech Hubs program. Developing the workforce for tomorrow's jobs. and strengthen the economic competitiveness and national security of the Americas. Click here to read an overview of each project proposed by Tech Hubs.

Together, the nominees requested $2 billion in funding for a total of 182 projects, including workforce development programs, entrepreneurial support, technology commercialization, and capital investments. In total, Tech Hubs applicants reported at least $435 million in matching funding for their projects from industry. State and local governments. and other partners. EDA looks forward to further growing private sector interest in investing in the Hub and its surrounding region and economy, supported by continued dialogue with the Hub and early private sector engagement.

Initial analysis from submitted applications shows that the following collaborations across all Tech Hubs are very strong:

In total, over 1,400 organizations (PDF) join the Tech Hubs consortium. 17 tech hubs with strong labor group participation. Over 500 industry groups and companies across 31 tech hubs. 11 Tech Hubs affiliated with Historically Black Colleges and Universities (HBCUs)/Black-Mainly Institutions (PBIs) (representing a total of 18 HBCUs/PBIs). 11 tech hubs affiliated with institutions serving Hispanics. Nine tech hubs affiliated with tribal governments.

EDA plans to announce Phase 2 award winners this summer. EDA will award $40 million to $70 million each to 5 to 10 tech hubs, and for each hub he plans to implement 3 to 8 projects. EDA's investments aim to leverage policy and financial commitments from project stakeholders to propel these regions to become globally competitive tech hubs over the next decade.

Projects proposed by Tech Hubs align with the selected industry focus, including manufacturing semiconductors, quantum computing, autonomous systems, biotechnology, clean energy, critical minerals, innovative materials, and advanced manufacturing technologies. , consists of a cross-sectoral regional coalition focused on the development of the industries that serve and use it. It is critical to maintaining and strengthening America's global competitiveness and national security. Click here to explore eight innovation themes covering 31 tech hubs.

Excitement about the Tech Hubs program is reflected in the large number of applications for this Department of Commerce initiative.

In October 2023, 31 nominees were selected from 197 applicants for their potential to be globally competitive in future technologies and industries. Only consortiums designated as Tech Hubs were eligible to compete for a total of $500 million in Phase 2 implementation funding.

EDA is committed to supporting all designated tech hubs to successfully realize their vision. Other federal partners have also contributed to the hub's success, resulting in all 31 hubs having access to resources. EDA is actively recruiting additional partners to expand the benefits of the Tech Hub designation (PDF) beyond the summer announcement of Phase 2.

The new Tech Hub program was approved by the bipartisan CHIPS and Science Act, a key part of President Biden's investment policy in America, which he signed into law in August 2022. The act authorized $10 billion over his five years for the Tech Hub program. Today, Congress appropriated $541 million, which would allow the program to begin in 2023, to provide up to $1 billion in each of more than 10 diverse regions to accelerate growth into a global technology. EDA's vision for this program to invest dollars has not yet been realized. leaders. EDA plans to run additional Tech Hub competitions to designate more hubs and award more strategy development and implementation grants, depending on future budgets.

For more information about the Tech Hubs program, visit TechHubs.gov.

Sources 1/ https://Google.com/ 2/ https://www.eda.gov/news/blog/2024/04/23/tech-hubs-submit-blueprints-strengthening-critical-industries-future The mention sources can contact us to remove/changing this article

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