Raising the Stakes for Technological Innovation: Biden Administration Unveils $504 Million in Implementation Grants for Technology Hubs Nationwide
The Biden administration has allocated $504 million in implementation grants for technology hubs across the country. The funding will support the development of various technologies, including quantum computing, biomanufacturing, lithium batteries, computer chips, personal medicine, and more. The administration aims to foster technological innovation nationwide rather than concentrating it in a few metropolitan areas like San Francisco, Seattle, Boston, and New York City.
Commerce Secretary Gina Raimondo emphasized the importance of providing resources for entrepreneurs, researchers, and institutions nationwide to compete in the global tech sectors of the 21st-century economy. The funding for the tech hubs comes from the Commerce Department’s Economic Development Administration. President Joe Biden designated 31 tech hubs in October 2023. Raimondo stated that the administration is advocating for additional funding for the program so that all designated tech hubs can receive the necessary resources to succeed.
The specific tech hubs receiving funding include Elevate Quantum Tech Hub in Colorado and New Mexico, Headwaters Hub in Montana, Heartland BioWorks in Indiana, iFAB Tech Hub in Illinois, Nevada Tech Hub, NY SMART I-Corridor Tech Hub in New York, ReGen Valley Tech Hub in New Hampshire, SC Nexus for Advanced Resilient Energy in South Carolina and Georgia, South Florida ClimateReady Tech Hub
