WASHINGTON, D.C. — The Ocean Tech Hub was awarded a $500,000 Consortium Accelerator Award from the Biden-Harris Administration through the U.S. Department of Commerce’s Economic Development Administration (EDA) to continue implementing a Tech Hub strategy focused on advancing ocean technology innovation and becoming a global leader in the growing ocean economy.
The Tech Hubs Program’s Consortium Accelerator Award will enable the Ocean Tech Hub to continue building momentum in the development of a globally competitive regional industry that includes undersea autonomous vehicles, robotics, and advanced materials and composites.
“The Biden-Harris Administration is working to build world-class ecosystems across the nation that will advance America’s global leadership in technologies of the future, catalyze the creation of good jobs, and strengthen U.S. national and economic security,” said Assistant Secretary of Commerce for Economic Development Alejandra Y. Castillo. “These Consortium Accelerator Awards demonstrate the level of excellence every designee embodies and will enable Tech Hubs to not only keep up their momentum, but also leverage their coveted designation to attract additional collaboration and capital.”
The Tech Hubs program is a flagship initiative of the Biden-Harris Administration’s Investing in America agenda, supporting regional efforts to scale up the production of critical technologies, such as semiconductors, quantum computing, autonomous systems, biotechnology, clean energy, critical minerals, innovative materials, and advanced manufacturing.
“Rhode Island is the Ocean State for a reason and the Biden-Harris Administration recognizes that. We thank them for helping us catalyze our efforts in developing ocean technology to raise incomes for all and ensure all businesses and residents in the region can participate in the growing industry,” said Governor Dan McKee.
“The entire Ocean Tech Hub consortium deserves recognition for their collaboration towards creating a global hub for ocean technology,” said Secretary of Commerce Liz Tanner. “We are lucky to have so many key partners at the table with us as we build on the work already being done in Southeastern New England to prepare us for rapid growth in the next decade.”
The Tech Hubs Program was authorized by the bipartisan CHIPS and Science Act, which President Biden signed into law in August 2022. The statute authorized $10 billion for the program over five years. To date, EDA has been appropriated $541 million for the program. If subsequent funding becomes available, EDA plans to invest in additional Tech Hubs, keeping this innovative program’s momentum going for decades to come. Read more about the Tech Hubs program at TechHubs.gov.
Click here to read more about the Ocean Tech Hub and follow them on LinkedIn here.
###
