The Biden Administration has designated the Minneapolis-St. Paul metro and Puerto Rico as medtech hubs in a U.S. Department of Commerce competition for $500 million in funding.
The U.S. Department of Commerce’s Economic Development Administration (EDA) designated 31 hubs across the country to drive regional innovation and job creation, the agency said this week. All are eligible to apply for $50-$75 million in funding each. EDA will select five to 10 hubs for funding.
The EDA also awarded strategy development grants (SDGs) to fund regional coordination to make them more competitive for future funding. Grant recipients include the Phoenix metro’s Medical Device Manufacturing Multiplier Strategy Development Consortium.
EDA-designated tech hubs include regions focused on predictive healthcare, personalized medicine, pharmaceuticals, biopharmaceuticals, biotechnology and biologics manufacturing.
Other EDA hubs are working on semiconductors, lithium batteries, sustainable polymers, additive manufacturing, critical minerals, quantum computing, offshore wind energy, nuclear technology, mass timber, and autonomous systems. Boston, for example, is included in the new Ocean Tech Hub of Southeastern New England covering Rhode Island and Massachusetts. That hub is focused on machine learning-enabled robotics and sensors.
A full list of the tech hubs and SDG recipients is at the bottom of this post with links to more information.
The Minnesota MedTech 3.0 hub
The Minnesota MedTech 3.0 hub covers the Minneapolis-St. Paul-Bloomington region, which extends into Western Wisconsin. Led by the Minneapolis Saint Paul Economic Development Partnership (which also calls itself Greater MSP), the hub “aims to position Minnesota as a global center for ‘Smart MedTech’ by integrating artificial intelligence, machine learning, and data science into medical technology,” EDA said in a news release.
“Leveraging its medical technology ecosystem and concentration of hospitals, research institutions, and medical device manufacturers, the MedTech Hub 3.0 will work to capitalize on regional assets to drive innovative collaboration in the MedTech sector,” the EDA continued.
Greater MSP said the Minnesota MedTech 3.0 coalition will seek funding this winter and hopes to launch new data exchanges for specific diseases and technologies, startup incubators and acelerators, expanded access to medtech infrastructure, workforce strategies and equity initiatives.
The Minnesota MedTech 3.0 coalition includes Allina, Boston Scientific, Brown Venture Group, Center for Economic Inclusion, Fogarty Innovation, gener8tor, Governor’s Workforce Development Board and Minnesota Department of Employment and Economic Development, HealthPartners, Mayo Clinic, Medica, Medical Alley Association, Metropolitan Economic Development Association, Medtronic, Minnesota State, Minnesota Technology Association, MN SBIR, MSP Equity Fund, Shakopee Mdewakanton Sioux Community, State of Minnesota–Office of Governor Tim Walz, University of Minnesota, and Vensana Capital.
“Medtronic is proud to be a leader in Minnesota MedTech 3.0 alongside so many other great partners,” Medtronic Chair and CEO Geoff Martha said in a Greater MSP news release. “This is a tremendous opportunity for Minnesota, and we’re committed to using our resources to ensure the success of this Tech Hub.”
Puerto Rico’s PRBio Tech Hub
The Puerto Rico Science, Technology and Research Trust leads the PRBio Tech Hub, which “will advance the region as a global leader in biotechnology through fast-tracking the discovery, development, manufacturing, and supply of next-generation biotechnology and medical device products to detect, treat, and cure diseases and ailments,” EDA said in a news release.
The PRBio Tech Hub also won an SDG to “increase local coordination and planning activities to strengthen its region’s capacity to manufacture, commercialize, and deploy critical technologies.”
New Hampshire’s ReGen Valley Tech Hub
The Advanced Regenerative Manufacturing Institute leads the ReGen Valley Tech Hub, which “aims to make New Hampshire a global leader in biofabrication to produce cost-effective regenerative therapies that address chronic disease and organ failure,” EDA said in a news release.
“Amidst growing commercial demand for these therapies and building on a recent EDA Build Back Better Regional Challenge award, this Tech Hub seeks to advance biofabrication-related therapies, invest in manufacturing facilities, and incubate technology startups to secure domestic regenerative therapy development and biofabrication,” the EDA continued.
Ohio’s Sustainable Polymers Tech Hub
Led by the Greater Akron Chamber, the Sustainable Polymers Tech Hub could yield materials for use in medical devices of the future.
Tech Hubs designees
- 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
Strategy Development Grant (SDG) recipients
Previously: The hottest life science hubs in the U.S.