The Biden administration has announced a total of $504 million in implementation grants for technology hubs located across the country. These funds will support the development of emerging technologies, such as quantum computing, biomanufacturing, lithium batteries, computer chips, and personal medicine. The goal is to promote technological innovation in all regions of the country and reduce concentration in major metropolitan areas.
Commerce Secretary Gina Raimondo believes that investing in these tech sectors is crucial for America’s success in the 21st-century global economy. She emphasizes the need to support smart people, great entrepreneurs, and leading-edge research institutions in all parts of the country. In October 2023, President Biden designated 31 tech hubs, and the administration is advocating for additional funding to support these hubs.
The implementation grants will be awarded to various recipients, including Elevate Quantum Tech Hub in Colorado and New Mexico and Heartland BioWorks in Indiana. Nevada Tech Hub and NY SMART I-Corridor Tech Hub in New York are also among the recipients. The grants aim to provide resources to help these tech hubs thrive and compete in today’s rapidly evolving technological landscape.