Feds to Hand Out $500M to Regional Tech Hubs: Is Your State on the List?
The Biden-Harris administration announced the first series of tech hubs that are getting funded as part of the CHIPS and Science Act signed into law last summer.
These 31 tech hubs, spread out across 32 states and Puerto Rico, were narrowed down from a list of 400 applicants. They'll focus on developing technology in a number of different segments, like the Ocean Tech Clubs in Rhode Island and Massachusetts that will develop, test, and commercialize emerging maritime AI and machine learning-enabled robotics.
The list is quite extensive and includes hubs for quantum computing, advanced medicine, EV materials, and even things like wood biomass polymers to replace fossil fuel-based plastics.
The overall goal is for each hub to become a leader in its respective segment sometime within the next 10 years. The funding is part of a $10 billion provision in the CHIPS Act that will give struggling regions an infusion of cash over the next five years for tech-focused projects.
For now, selected hubs can apply for grants worth between $40 million and $70 million; up to $500 million will go out in this first round, according to the US Department of Commerce.
“President Biden’s Investing in America agenda is rooted in policies that will empower the United States to out-innovate and out-compete the rest of the world. Our Tech Hubs Program is fundamental to that mission and will supercharge innovation across the nation by spurring cutting-edge technological investments and creating 21st century job opportunities in people’s backyards,” says US Secretary of Commerce Gina Raimondo.
In addition, the US Economic Development Administration (EDA) awarded 29 Strategy Development Grants (SDG). Eleven of the 31 tech hubs received grants; the
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