The Biden-Harris administration, through the U.S. Department of Commerce’s Economic Development Administration (EDA), announced the designation of 31 Tech Hubs in regions across the country. This is the first phase of the new Tech Hubs program, which is an economic development initiative designed to drive regional innovation and job creation by strengthening a region’s capacity to manufacture, commercialize, and deploy technology that will advance American competitiveness. The program invests directly in burgeoning, high-potential U.S. regions and aims to transform them into globally competitive innovation centers. Eleven of the Hubs are Biotech-related (see list below).
EDA also awarded 29 Strategy Development Grants (SDG) to help communities significantly increase local coordination and planning activities. Such development could make selected grantees more competitive for future Tech Hubs funding opportunities
The Department of Commerce launched a second Tech Hubs Notice of Funding Opportunity on October 23, 2023, allowing these designated Tech Hubs to apply to receive between $40 million and $70 million each for implementation funding, totaling nearly $500 million. The application deadline for Tech Hubs Program Phase 2 is February 29, 2024.