The federal government is extending $500 million this year to promote innovation in 20 designated “Tech Hubs” across the country, and Colorado is pushing hard to make sure its application comes out on top
The federal government is extending $500 million this year to promote innovation in 20 designated “Tech Hubs” across the country, and although the competition probably won’t match the frenzy around“Bringing a hub to Colorado will help us create jobs and facilitate broad-based economic growth, ensure that we do our part addressing key national security challenges, and support innovation-centric growth,” Gov.
The program, managed by the U.S. Economic Development Administration, is designed to create and foster innovation centers to benefit communities and geographic regions that might not have the resources to develop them on their own, and to shore up holes in national security which became evident during the pandemic.
Rather than taking a generalized approach, organizers of the state’s application plan to focus on specific areas of strength that other regions of the country aren’t pursuing. The state needs to understand not only its competitive advantage but its “comparative” advantage, said Wendy Lea, co-founder and CEO of Energize Colorado and a panelist speaking Thursday.
“We are looking, no matter what, to unify our ecosystem,” Lea said, explaining the exercise will be helpful whether Colorado lands a hub or not. Before Colorado competes with other states, advanced industries within the state will be competing to make the strongest pitch — aerospace vs cybersecurity, climate sciences vs. quantum computing, biotech vs. renewable energy. The hope is that industries will team up and propose interesting collaborations that stand out from the other applications the EDA will review.
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