President Joe Biden on Monday designated 31 Regional Innovation and Technology Hubs across the U.S., marking a stride in boosting American innovation, manufacturing, and employment opportunities.The initiative emerged from the CHIPS and Science Act Biden signed last August, orchestrated by Washington Senator Maria Cantwell, Chair of the Senate Committee on Commerce, Science, and Transportation.
The designated Tech Hubs are now eligible to apply for the Tech Hubs Phase 2 Notice of Funding Opportunity, wherein the Economic Development Administration is set to award implementation grants between $40 million and $70 million each for a total of nearly $500 million.Funding for the Tech Hubs initiative stems from the CHIPS and Science Act.
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