US Department of Commerce Launches $500 Million Tech Hub Funding Opportunity » Dallas Innovates

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The US Department of Commerces Economic Development Administration has launched the Regional Technology and Innovation Hubs competition. Better known as the “Tech Hubs” program, the initiative aims to foster strong alliances between industry, higher education institutions, state and local governments, economic development organizations, and labor and force stakeholders Work.

This program is set to help select US regions compete globally in emerging technologies while also cultivating the workforce needed to support this innovation.

After opening the call for planning grants and technology center designations, the Commerce Department later plans to issue a second call to action. This will invite applicants already designated as Tech Hubs to compete for implementation funding.

The program aims to boost innovation ecosystems for technologies that are essential to our economic and national security, according to the DOC.

The CHIPS and Science Act, part of President Joe Biden’s Investing in America plan, supports the $500 million Tech Hubs program. The act plays a crucial role in authorizing and enabling the Tech Hubs program, which aims to spur private sector investment, create good-paying jobs, revitalize American manufacturing, and ensure that all communities benefit from America’s economic progress.

The Tech Hubs program is part of last year’s CHIPS and Science Act, a $10 billion initiative. The act is designed to promote investment in emerging technologies such as artificial intelligence, quantum computing and biotechnology.

Strengthen the innovation infrastructure

In a statement, US Secretary of Commerce Gina Raimondo said The Tech Hubs program is a key building block of President Bidens’ investment strategy in America and will help us create innovation ecosystems to strengthen economic opportunity in communities. of the country that have historically been neglected.

The US innovation infrastructure will be strengthened by top research institutions partnering with companies, he said. These types of partnerships will lead to the creation of high-paying jobs and technological advances in communities across America.

According to National Economic Council Director Lael Brainard, the Presidents Investing agenda in America marked an important milestone with the launch of the Tech Hubs initiative. Brainard said it will seed the next generation of leading innovation clusters in communities across the country, bolstering manufacturing and creating good-paying jobs to ensure America again leads the world in technologies of the future.

The Tech Hubs program is intended to improve the ability to manufacture, market and distribute technology in locations across the country. The administration and the DOC want to promote the technologies and industries of the future and ensure that these industries, companies and the good jobs they generate remain in the United States.

The two-phase funding program is open to U.S. regions with the assets, resources, capacity and potential to become globally competitive in critical technologies and industries within approximately ten years, according to a DOC funding notice.

How to apply

A webinar on May 18 will delve into how communities can apply and provide an overview of the funding opportunity notice, along with an interactive question and answer session. Secure your place by registering here.

Phase 1 applications must be submitted by August 15, 2023, 11:59 PM ET.

The Economic Development Administration (EDA) said the first notice of funding opportunities details the application process and outlines how the Commerce Department will evaluate such applications in a three-month window. Only Phase 1 designated technology centers are eligible to apply for Phase 2, which is expected to open in the fall of 2023.

Who can apply?

Only groups of organizations, called consortia, are eligible to apply for the Tech Hubs program. Eligible consortia must include a broad range of entities to qualify.

Individual requests for funding will not be considered.

A consortium is made up of different types of entities, some mandatory, others optional. This can include educational institutions, private companies, government organizations, federal laboratories, unions, and more.

The specific requirements for consortia are outlined in the Notice of Funding Opportunity (NOFO) document.

In Phase 2 of the program, only consortia designated by the Economic Development Administration (EDA) during Phase 1 will be eligible to apply.

Geography of the Tech Hub

Applicants must indicate their chosen geography in their application.

The EDA defines the geographic area of ​​a technology hub as a Metropolitan Statistical Area (MSA) or other interconnected area, such as micropolicy statistical areas.

The chosen geography should have the necessary resources, capital, research and development (R&D), a strong labor market and relevant infrastructure that aligns with the selected core technology area, according to the DOC. Applicants will select a technology sector from a list of ten key focus areas identified in the Tech Hubs bylaws.

Consortia have the flexibility to include resources or members from outside their chosen geographic area. For example, they may involve organizations in rural non-metro areas or establish partnerships with geographically distant entities that align with the consortium’s mission and support the Tech Hub’s strategy.

More resources

The Tech Hubs program offers various resources, including Phase 1 Funding Opportunity Notice (PDF), EDGE EDA Question Portal, Press Release, Informational Webinar, FAQs, Revised Fact Sheet, Executive Summary of RFI responses, budget and geography templates, Phase 1 NOFO PowerPoint slides and more. These resources aim to support candidates in understanding and applying for the program effectively.

For other questions regarding eligibility or program requirements, please contact Tech Hubs EDA for assistance.

Growing our economy from the bottom up and outward

It is of paramount importance to ensure that the industries of the future start, grow and remain in the United States, Assistant Secretary of Commerce for Economic Development Alejandra Y. Castillo said in a statement. The Tech Hubs initiative will strengthen much more than just the tech industries – it will support and impact the people, workers, communities and physical infrastructure essential to a Tech Hub region.

EDA is committed to growing our economy from the bottom up and down, he said.

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