Tech hubs embraced as catalysts for growth – Inside INdiana Business

Listen to this story

Loading audio file, please wait.

Speed ​​1.00 0.25 0.50 0.75 1.00 1.25 1.50 1.75 2.00

Two years after the federal CHIPS and SCIENCE Act was enacted, the act’s goal of stimulating domestic innovation and high-tech manufacturing in areas such as microelectronics, biotechnology and artificial intelligence has begun to move from concept to implementation in Indiana and across the nation.

On Tuesday, the U.S. Department of Commerce's Economic Development Administration awarded $51 million to the Heartland Bioworks Hub in Indiana, making it one of 12 federally designated technology hubs nationwide to receive funding.

This is in addition to the $33 million the Department of Defense awarded last year to the Indiana-based Silicon Crossroads Microelectronics Commons hub.

Separate from CHIPS, the U.S. Department of Energy last year awarded up to $1 billion in federal funding for clean energy projects to the Midwest Alliance for Clean Hydrogen, of which Indiana is a lead member.

The designation makes Indiana the only state involved in three federal innovation hubs, and state officials say it puts the state in the best position to build a stronger workforce and convince businesses to invest and stay in the state.

These plans also position Indiana at the forefront of federal initiatives to accelerate America's position in key high-tech areas, particularly microelectronics and its impact on national security. The strategy focuses on providing incentives to companies and organizations involved in a range of technology activities, from idea generation and research to commercialization and implementation, to join the hub.

“We depend on that supply chain to sustain the system,” said Doug Crow, federal director of the Microelectronics Growth Program. “The biggest driver we're working on right now is domestic production so we can start to redevelop our domestic design, manufacturing and packaging capabilities.”

David Watkins, senior vice president of entrepreneurship and small business at the Indiana Economic Development Corporation, said he hopes that in the future, these hubs will serve as a flywheel that will increase levels of talent, business innovation and commercialization in the state.

The Hub is not a place; its members may not even be neighbors. Rather, it is an alliance, whose members include leading companies in the local sector, major national companies, universities, non-profits, and other entities involved in manufacturing. By connecting partners, the Hub offers its members opportunities for collaboration, access to funding for projects and research topics, and boosts government-backed economic development impetus.

“Our framework allows for collisions and ideas to emerge that wouldn't normally happen without the framework and orchestration that we provide,” says Brooke Pine, executive vice president of innovation and strategy at the nonprofit applied research institute.

ARI is the organizer and manager of the Heartland Bioworks Hub and Silicon Crossroads Microelectronics Commons Hub under contract with the Indiana Economic Development Corporation, is a member of the Midwest Clean Hydrogen Alliance, and partners with the IEDC on other entrepreneurship and innovation efforts.

ARI's role is to bring together stakeholders from academia, industry and government to design networks that foster innovation through collaboration. For example, ARI can connect university research teams with companies interested in prototyping and commercializing, Pyne says.

Partnerships are key to seizing big opportunities like the Innovation and Technology Hub, said Karen Prout, Purdue's vice president for research, who said the university is uniquely positioned to support them by lending facilities and equipment, deepening research and supporting startups.

“Commercialization is innovation,” Prout said, and with these hubs designed to foster innovation, more products can get to market.

Where does the Hub stand?

The furthest along in development, Crow said, is the Silicon Crossroads Microelectronics Commons hub, one of eight federal microelectronics hubs aimed at ensuring the military doesn't use chips made outside the U.S. A report released in January by data analytics firm Govini found that 40% of the semiconductors used in the Pentagon's weapons systems and infrastructure are made in China, raising concerns among nation leaders that this poses a security threat.

The CHIPS and Science Act (CHIPS stands for Creating Beneficial Incentives for Semiconductor Production) is designed to fund the innovation, research, and manufacturing needed to enable the United States to supply its own defense equipment.

That means bringing previously outsourced supply chains back home, Crowe said.

The Silicon Crossroads Hub has received an initial allocation of $33 million, primarily for workforce development and equipment for members such as universities. The Hub is nine months into its implementation, which officials said means the program has been launched and equipment has been ordered.

The hub hosted the grand opening of its Silicon Crossroads Collaboration Center, known as SC3, at an event held at WestGate@Crane Tech Park in Odessa on June 17.

ARI submitted a second round of funding petitions in February to fund some of its members' projects and will find out this month whether the request has been granted. Project funding calls will be annual, Pyne said. ARI also plans to submit a proposal next month to increase funding for workforce development programs.

Meanwhile, the Heartland Bioworks Hub is still in the early stages of work, needing to finalize details of a contract with the Commerce Department's Economic Development Administration to secure a $51 million grant that will fund workforce training and support for early-stage companies.

ARI also plans to establish a training and demonstration facility in Indianapolis' 16 Tech Innovation District.

The hydrogen hub is currently finalizing its framework, which IEDC's Watkins expects to be completed within the next few weeks.

Abstraction versus reality

Economic development leaders from each state have a unique incentive to host and operate from a federal hub: the potential to turn abstract ideas into local investments and actual, physical innovation campuses in Indiana.

Each location reflects the industries in which companies have established themselves in the state. General manufacturing is already a major employer, and microelectronics and advanced manufacturing typically require workers to expand training. The state is also home to a number of strong life sciences companies, including Eli Lilly and Co., currently one of the most valuable companies in the country, as well as Elanco Animal Health and Roche Diagnostics.

The hydrogen hub is focused on northwest Indiana, where BP is working to develop hydrogen-related technology for its Whiting refinery, allowing steelmakers to benefit from a cleaner energy source.

Watkins said diversifying the types of industries in the state is beneficial, but the focus is on making sure those industries remain cutting edge.

He said the question is how to organize a coalition around these types of innovative movements that are happening within industries that have a strong presence in Indiana to ensure the state stays on the cutting edge of these innovations.

For example, the state is developing and expanding tech and research park corridors to absorb growth in key focus areas, an ecosystem that will drive the innovation side of the hubs, leaders say.

For example, Purdue Research Park in West Lafayette allows the university to translate research into economic impact for the state, Prout said. Students and faculty play a key role in the system, he said, partnering with companies to develop products and technologies and bring them to market.

“The Innovation Park allows us to do cutting-edge research. We can go to Purdue University and work together to solve real problems that need to be solved right now,” she said.

A key initiative funded by the hub is workforce development, a key concern for Indiana and the nation. According to a July 2023 industry forecast cited by the White House, the nation will need at least 25,000 engineers without four-year college degrees by 2030, and an equal number with higher education degrees.

ARI is focusing the majority of its current and potential funding at each of its locations on improving the skills of Indiana’s workforce. Ivy Tech Community College and Purdue University also have numerous workforce development programs.

We can build that workforce, Prout said.

Positioning for sustainability

Crow said there are two main factors that make Indiana an attractive location for microelectronics: The state has already begun to bring together partners and foster a local microelectronics ecosystem, he said.

And the state's senior U.S. senator, Todd Young, sponsored and promoted the CHIPS bill.

Indiana probably recognized a future need. [for a renewed microelectronics industry] And so they jumped into this space to start building the ecosystem to support that, Crow said. They've obviously been in microelectronics for a long time.

Crow said the initial funding for the microelectronics hub is aimed at building infrastructure to reinvigorate the industry domestically after years of overseas production of key components.

The main factor, he said, was a decline in the percentage of microelectronic circuits produced in the United States that eventually reached levels low enough to become a national emergency.

The goal is to continue funding the hub over the long term, on a project-by-project basis, rather than spending a large amount all at once, although additional grant funding is not guaranteed.

Pyne said federal funding will be limited, and the hub will need to supplement it with other revenue sources and find a model that works in Indiana.

But this surge in federal funding is something we've never seen before and states need to take advantage, Pine said.

This is a huge injection of capital into the country, to make up for lost time, she said. We need to start investing in talent development along with making up for lost capacity in technology.

Story continues below

Sources 1/ https://Google.com/ 2/ https://www.insideindianabusiness.com/articles/technology-hubs-embraced-as-catalyst-for-growth The mention sources can contact us to remove/changing this article

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos