The Minneapolis-St. Paul metro tech hub is competing for federal funding to advance medtech innovation and jobs. (Photo by Nicole Harrington via Unsplash)
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 tec…