The Biden administration has chosen 31 regional technology “hubs” as potential recipients of $500 million in funding intended to kickstart innovation, Reuters (subscription) reports.
What’s going on: “President Joe Biden’s ‘industrial policy’ effort uses federal government dollars to fund prospective growth sectors from electric vehicle battery production to semiconductors and clean energy to attract more private sector investments.”
- While hub designation doesn’t guarantee funding, the administration plans to start giving out the money next year, when it will disburse as much as $75 million to about five to 10 of its chosen hubs.
- The news comes less than two weeks after the administration announced it would fund the creation of seven “hydrogen hubs” to scale up clean hydrogen production in the U.S.
A broad array: The tech centers will be “in cities from Baltimore, Maryland, to Birmingham, Alabama, and beyond” and will focus on biotechnology, critical minerals, artificial intelligence and quantum computing, among other areas.
- “A Washington state and Idaho hub will focus on developing new materials for more fuel-efficient next-generation aircraft, while an Oklahoma hub seeks to commercialize autonomous systems in areas like agriculture and pipeline inspections. A Wisconsin program aims to develop personalized medicine.”