{"id":18722,"date":"2023-10-25T19:05:30","date_gmt":"2023-10-25T19:05:30","guid":{"rendered":"https:\/\/mysourcefunding.com\/startups\/tech-hubs-program-will-boost-entrepreneurship-innovation-across-america\/"},"modified":"2023-10-25T19:05:32","modified_gmt":"2023-10-25T19:05:32","slug":"tech-hubs-program-will-boost-entrepreneurship-innovation-across-america","status":"publish","type":"post","link":"https:\/\/mysourcefunding.com\/?p=18722","title":{"rendered":"Tech Hubs Program Will Boost Entrepreneurship & Innovation Across America"},"content":{"rendered":"
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By: Rhett Buttle<\/p>\n

On Monday, President Biden and Secretary of Commerce Gina Raimondo announced the designation of 31 communities across the country as Regional Innovation and Technology Hubs (Tech Hubs) through the Department of Commerce Economic Development Administration (EDA). This program will boost small businesses across the country by helping develop and grow innovative industries that range from semiconductors to clean energy, critical minerals, biotechnology, and artificial intelligence.<\/p>\n

\u201cOur nation needs to have an economic development strategy that is consistent with long-term investments and relentless in our pursuit for global competitiveness and job creation,\u201d said Alejandra Castillo, Assistant Secretary of Commerce for Economic Development with the U.S. Department of Commerce.<\/p>\n

Tech Hubs is a program authorized by the CHIPS and Science Act, which was signed into law by President Biden in 2022, to spur investment in technologies critical to economic growth, national security, job creation, and American competitiveness. It is a critical part of the Bidenomics strategy to grow the economy from the middle out and bottom up in every region across the country.<\/p>\n

Monday\u2019s announcement is the first phase of the program and each designated tech hub applied as a consortium and each Tech Hub applied as a consortium of higher education, government, industry, economic development, labor or workforce, and other organizations focused on innovation. Of the nearly 200 consortia that applied, EDA designated the 31 that demonstrated that their region can create and deliver these critical technologies.<\/p>\n

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\u201cOur Tech Hubs Program is fundamental to that mission and will supercharge innovation across the nation by spurring cutting-edge technological investments and creating 21st century job opportunities in people\u2019s backyards,\u201d said Secretary Raimondo when the program was announced. \u201cEach of these consortia will help us ensure the industries of the future \u2013 and their good-paying jobs \u2013 start, grow, and remain in the United States.\u201d<\/p>\n

The Tech Hubs are located across 32 states and Puerto Rico, with six including a tribal government, four being headquartered in low-population states, and four including coal communities. Some of the Tech Hubs include:<\/p>\n