Stiff competition for Tech Hubs designation, dollars
A total of 378 applications were submitted by 247 unique lead consortia members in 48 states and three territories.
How serious is the competition for the new “Regional Technology and Innovation Hubs” (Tech Hubs) designations?
The U.S. Economic Development Administration (EDA) has announced that organizations in 48 states and three territories submitted a total of 378 Tech Hubs Phase 1 applications by the mid-August deadline. That’s for a competition for which EDA had earlier indicated plans to designate at least 20 regions around the country.
Those 378 applications were received from 247 unique lead consortia members and broke down as follows:
- 68 (28 percent) submitted only applications for a Tech Hubs designation;
- 124 (50 percent) submitted applications for both designation as a Tech Hub and a strategy development grant; and
- 55 (22 percent) submitted only applications for strategy development grants.
According to EDA’s announcement, applicants requested more than $75 million in federal funding for strategy development grants across the 181 of those applications. EDA is currently reviewing all 378 applications and will announce which applicants will receive Tech Hub designations in Fall 2023. The designated Tech Hubs will be invited to apply for Phase 2 funding after they are announced in the Fall.
EDA again emphasized in the announcement that the agency expects to designate at least 20 Tech Hubs across the country and make approximately 30 strategy development awards utilizing approximately $15 million of the $500 million available.
No breakdown of applicants by state was provided. In July, Launch Tennessee endorsed five likely applications from five different regions of the Volunteer State (see teknovation.biz article here).
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