The National Economic Development Administration “Tech Hub” grants are taking applications

Published: May. 15, 2023 at 10:03 PM CDT
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CHEYENNE, Wyo. (Wyoming News Now) - A new and upcoming program was authorized under the “C.H.I.P.S.” and Science Act last year.

The EDA or Economic Development Administration received $500M as a down payment of $10B plus to invest in tech development in the program.

Experts say this was a way to put a down payment on America’s future.

”Innovation doesn’t just happen in a few small places or a few small pockets across the country. Innovation happens across the entire U.S., and there is cutting edge research being done in universities large and small across the entire country,” said Dennis Alvord, Chief Operations Officer and Deputy Assistant Secretary for Economic Development, U.S. Department of Commerce.

Through the U.S. Department of Commerce’s EDA, the Biden-Harris administration launched the Regional Technology and Innovation Tech Hubs competition.

This program will create hubs across the country focusing on ten key areas.

These include A.I., Bio-Tech, Quantum Computing and Advanced Energy and Industrial Efficiency Technologies.

It is bringing together industry, higher education institutions, and state and local governments to supercharge centers of innovation that are essential to economic and national security and growth.

The program would stimulate private-sector investment, creating jobs and revitalizing manufacturing.

This open application funding opportunity opened last week and will be available till mid-August.

”At its core it’s a best practice of economic development. And it’s really one of the most successful enabling tools to ensure that regions can grow, diversify, and innovate their economies in the future,” said Alvord.

The first notice for funding was recently released, and the second notice will go out in the fall.

Businesses and schools are encouraged to apply; ultimately, the EDA will designate about 20 tech hubs nationwide.