Strengthening HBCUs in Regional Innovation Ecosystems
This article was produced as part of New America’s Future of Work and the Innovation Economy Initiative. Subscribe to our Future of Work Bulletin newsletter to stay current on our latest research, events, technical assistance, and storytelling.
In July 2024, the U.S. Economic Development Administration (EDA) announced $504 million in funding for twelve Regional Technology and Innovation Hubs (Tech Hubs). Nineteen other Tech Hubs also recieived $500,000 in funding and ongoing technical assistance from the EDA.
Authorized under the CHIPS & Science Act of 2022 as one of the bill’s signature place-based industrial policy programs, EDA Tech Hubs bring together regional consortia of companies, universities, community colleges, nonprofits, and state and local governments to promote technology-based economic development, including by:
- Progressing the maturation and deployment of emerging technologies into industry
- Supporting tech entrepreneurs and startups built around those technologies
- Building technology testbeds, prototyping facilities, and manufacturing facilities to test and scale the production of the technologies
- Expanding workforce development relating to the jobs stemming from technological advances
Tech Hubs aim to support regions across the country with assets and resources that have the potential to become globally competitive economic leaders in advanced and emerging technologies, particularly across eight technology themes:
- Safe and Effective Autonomous Systems
- Maintaining Our Quantum Edge
- Advancing Biotechnology: Drugs and Devices
- Advancing Biotechnology: Precision and Prediction
- Accelerating Our Energy Transition
- Strengthening Our Critical Minerals Supply Chain
- Regaining Leadership in Semiconductor Manufacturing
- Growing the Future of Materials Manufacturing
