Commerce Sec. Lutnick pledged a revision of the program, which allocated millions of dollars to boost innovation ecosystems across the country.
Federal funding can kickstart regional innovation, but what happens when that support gets pulled back? US Commerce Secretary Howard Lutnick announced an overhaul of the EDA Tech Hubs program, a Biden-kickstarted initiative that committed hundreds of millions to support innovation ecosystems across the country. Part of the revision: Canceling January's multimillion-dollar awards to six hubs on the grounds that the process was unfair and opaque. What's this mean in practice? Technical.ly spoke with the leader of Vermont's Tech Hub, one of the six that had funding rescinded, as well as leaders in Baltimore and Philadelphia, which had so far been entirely snubbed. All said they're optimistic, and looking to nab funds when the feds open up applications later this year. |
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