Central American metropolises are to develop into leading tech centers

Central American metropolises are to develop into leading tech centers

San Francisco, 5/13/2023

The U.S. Department of Commerce plans to initially award $500 million in grants to cities that want to become tech hubs through the Regional Technology and Innovation Hub (Tech Hubs) program.

According to experts, this program should primarily turn Central American metropolitan regions into hotspots for technical innovations.

The goal is to expand technology investment beyond the current concentration in areas like Austin, New York, San Francisco and Seattle and to promote economic and national security. The program could boost more high-paying jobs in the US and help the country stay at the forefront of new technology.

Funded by a $10 billion permit from last year’s CHIPS act, the program will distribute $500 million in grants to successful applicants this year, with each designated tech hub eligible for up to $75 million -dollar has. Hubs should focus on key technology areas such as AI, robotics, biotechnology, cybersecurity or energy efficiency.

To qualify, applicants must have a partnership with at least one company, a government development agency, worker training programs, a university, and state and local government leaders.

The program envisages designating about 20 cities as technology hubs, ten of which will eventually receive funding.