Tech Hubs Aim to Make U.S. the Global Leader in Technologies of the Future

Interview with Eric Smith, Regional Tech Hubs Program Director: ‘Our goal is to enable the Tech Hubs that we designate and fund to capture more of their focus industry’s market share globally. These investments inject regions with an extra boost to generate more innovation, more services, more products, and more sales in a particular technology area.’

Ahead of the announcement for phase one designations, Eric Smith, Regional Tech Hubs Program Director for the U.S. Commerce Departments Economic Development Council (EDA) gave an interview previewing the criteria for Phase 2 of the program. In the next several weeks, the Department of Commerce will launch phase 2 of the competition, for applicants designated as a Tech Hub to apply for implementation funding. 

“In Phase 2, we will invest in regions that have strong potential to lead globally across a wide array of critical and emerging technologies and the people and places that make and deliver these products and services, “ said Eric Smith, the Tech Hubs Program Director at the  U.S. Department of Commerce’s Economic Development Administration (EDA) in a recent interview.  

“In most successful Hubs, we’re going to see these regions—and the industries within them—build and gain market share in particular industries. We also expect to see markers of increased innovation, increased business creation and expansion, and increased investment in these places. We’re looking for market potential—where are there viable commercialization paths for these critical technologies? What regions are building effective interfaces between their engines of innovation and industry that will make them globally competitive and that will result in new, good jobs? We’ll ask these Hubs and ourselves these questions repeatedly as the Hubs put together their Phase 2 project proposals and as we evaluate them.”

Read the full interview on the EDA’s website.