The Biden administration has recently allocated $504 million in implementation grants for technology hubs in various locations across the country, including Ohio, Montana, Nevada, and Florida. This funding will support the development of cutting-edge technologies such as quantum computing, biomanufacturing, lithium batteries, computer chips, personal medicine, and more. The aim of this initiative is 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 across the country to compete in the global tech sectors of the 21st-century economy. The funding for these 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
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