Wisconsin was designated as a Regional Tech Hub for its innovation in the biohealth sector. Advocates say it will bring jobs to the state.
The U.S. Department of Commerce’s Economic Development Administration (EDA) designated Wisconsin as a Regional Tech Hub in late October, a move expected to spur innovation in the state’s biotech industry.
The Regional Technology and Innovation Hub Program, known as the Tech Hub Program, designated 31 regions for greater technological investment based on their probability for “rapid technology-led economic growth.”
The application process
The Biden-Harris Administration selected 31 Regional Tech Hub Designations from at least 370 applicants, providing the possibility of funding toward technological advancement. Five to 10 of the chosen regions will receive up to $75 million in federal grants in the second round of the Tech Hub Program, which will be announced in 2024.
Adopted from the CHIPS and Science Act of 2022, which provides approximately $280 billion to promote domestic semiconductor research, the program is designed to expand technological innovation beyond already booming regions.
To earn the bid, Wisconsin formed a consortium
of 15 institutions, including the Wisconsin Economic Development
Corporation (WEDC), the University of Wisconsin System Administration,
UW-Madison, GE HealthCare, BioForward Wisconsin and the Milwaukee Area
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- - Volume: 11 - WEEK: 45 Date: 11/8/2023 4:16:25 PM -