The Biden administration has announced that it will be providing $504 million in implementation grants for a dozen technology hubs located across the country, including Ohio, Montana, Nevada, and Florida. This funding is intended to support the development of cutting-edge technologies such as quantum computing, biomanufacturing, lithium batteries, computer chips, and personal medicine.
The Democratic administration’s goal is to promote technological innovation beyond traditional tech hubs like San Francisco, Seattle, Boston, and New York City. Commerce Secretary Gina Raimondo emphasized the importance of supporting smart people, entrepreneurs, and research institutions nationwide to ensure that the U.S. remains competitive in the tech sectors that will define the 21st-century global economy.
The funding comes from the Commerce Department’s Economic Development Administration and is part of President Joe Biden’s initiative to designate 31 tech hubs by October 2023. Raimondo stated that the administration is advocating for additional funding for the program to ensure that all designated tech hubs can receive the necessary resources to compete effectively.
The technology 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
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