EDA releases fact sheet on upcoming Tech Hubs solicitation
The new $500 million program is focused on ensuring a U.S. industrial base in sectors critical to the nation's future. It is a two-phase proposal process that will ultimately result in five awards.
There’s a good deal of interest among tech-focused organizations and communities in the new “Regional Technology and Innovation Hubs Program.” Referred to as simply the Tech Hubs Program, it was authorized by the “CHIPS and Science Act” to help strengthen U.S. economic and national security by ensuring the industries of the future – and their good jobs – start, grow, and remain in the country.
Like the “Build Back Better Regional Challenge” and the “Good Jobs Challenge,” the newest initiative is being administered by the U.S. Economic Development Administration (EDA). Tech Hubs will make place-based investments in U.S. regions with the assets, resources, capacity, and potential to become globally competitive, within a reasonable period of time, in critical technologies and industries.
EDA, which will run this competition with a focus on geographic diversity and equity, recently issued some additional information about how it will run the two-phase program. As described here, EDA expects to designate at least 20 Tech Hubs across the country under Phase 1 and make a commensurate amount of strategy development awards utilizing approximately $15 million of the $500 million available. Those so designated will then be able to apply under Phase 2 for the balance of the funds.