Category: General News

• Pacific Northwest Mass Timber Tech Hub snubbed in $500m federal funding blitz by Biden administration
• Hub aimed to develop low-carbon housing solutions using advanced material science
• Ohio, Montana, Nevada, and Florida chosen instead for technology hub funding
• Funding supports quantum computing, biomanufacturing, lithium batteries, and more
• Commerce Department’s Economic Development Administration funds hubs under CHIPS Act

Pushing Pacific Mass Timber Innovation: Biden Administration’s Funding Decision

The recent decision by the Biden administration to allocate over $500 million in federal funding to various technology hubs across the country has sparked controversy, particularly in the Pacific Northwest Mass Timber Tech Hub. Read more

• Federal government announces $41M in “tech hub” funding for western Montana, part of $500 million in grants for tech hubs nationwide
• The Headwaters Tech Hub, led by Accelerate Montana, focuses on smart photonic sensing industry in Missoula, Bozeman, Kalispell, and Butte
• Montana aims to grow photonics industry jobs from 1,000 to 6,000 in ten years, with grant supporting worker training and educational opportunities
• The Tech Hub program, established in 2022, aims to promote innovation and job creation in high-tech industries
• U.S.

• The African Development Fund has granted $19.95 million to empower Sierra Leone’s women and youth
• The grant aims to create jobs in climate smart agriculture and waste management for women and youth in Sierra Leone
• The project targets value chains like cassava and fisheries, with a focus on gender equality and economic empowerment
• Key targets include creating 9,200 jobs, enhancing climate change adaptation capacity, and increasing MSME revenues
• The initiative aligns with Sierra Leone’s development plans and the African Development Bank’s strategies

The African Development Fund Grants $19.95M to Empower Sierra Leone’s Women and Youth

In a significant move towards empowering the women and youth of Sierra Leone, the African Development Fund has approved a generous grant of $19.95 million. Read more

• Upstate tech hub secures $40 million in federal funding for Buffalo, Rochester, and Syracuse
• Funding aims to boost semiconductor industry, workforce training, and product development
• Collaboration among academic institutions key to successful bid
• Schumer’s pivotal role in securing funding highlighted
• Initiative expected to create diverse, well-paying jobs and retain young talent in the region

Buffalo, Rochester, and Syracuse: A Collaborative Upstate Tech Hub

In a significant victory for the upstate region, U.S. Read more

• The Biden administration awards $504 million for ‘Tech Hubs’ in overlooked regions
• Grants aim to accelerate growth of advanced industries like biomanufacturing and AI
• Program aims to expand tech funding beyond Silicon Valley to revitalize underfunded areas
• Concerns raised about limited funding hindering program’s transformative impact
• Commerce Department officials express eagerness for more funding to drive further tech advancements and job creation

The Importance of Tech Hubs Funding in Overlooked Regions

In a move to propel technological innovation in areas historically overlooked, the Biden administration recently announced the allocation of $504 million for the development of tech hubs in various regions across the United States. Read more

• Clemson University, as part of SC Nexus, receives $12.5 million federal funding for eGRID upgrade
• Investment aims to expand electrical grid simulator for rapid testing of new energy innovations
• Duke Energy eGRID facility at Clemson to become a leading facility in energy technology
• Upgrade project, called Economic Development through Grid Emulation (EDGE), enhances power rating to 25 MW
• Enhanced capabilities attract investment in South Carolina energy economy

Upgrade of Duke Energy eGRID Facility at Clemson University

In a significant development for the advancement of energy technology, Clemson University, as part of the SC Nexus for Advanced Resilient Energy consortium, has received a substantial $12.5 million investment from the U.S. Read more

• EDA announced $500M for Tech Hubs, none for Baltimore and Philadelphia
• DC-based Economic Development Administration’s Phase 2 project implementation funds narrow 31 tech hubs to 12 awardees due to lack of appropriations
• Tech hubs received $10 billion through CHIPS and Science Act, but Congress only allocated $541 million so far
• Baltimore and Philadelphia did not receive funding in the latest round, but may be eligible for future grants with additional appropriations
• Greater Baltimore Committee receives $500,000 federal funds to strengthen their reapplication for tech hub funding

Introduction: Understanding the EDA’s $500M for Tech Hubs

In the world of technology and innovation, securing funding for tech hubs is crucial for the growth and development of local economies. Read more

• Baltimore region misses out on $70 million federal tech hub funding
• Baltimore and surrounding counties chosen for federal Tech Hubs Program
• U.S. Department of Commerce awards grants to 12 tech hubs in other states
• Biden administration initiative aims to boost tech economies in overlooked communities
• Baltimore’s proposed projects aimed to create jobs and focus on AI and biotechnology

Baltimore Tech Hub Misses Out on Federal Funding

In a disappointing turn of events for the Baltimore region, the area failed to secure up to $70 million in federal funding designated for tech hubs. Read more

• UK tech funding stable in H1 2024, with $6.7 billion raised, a 2% decrease from the previous year
• Late-stage investments declined by 23% to $3 billion, while seed-stage funding dropped by 7% to $540 million
• Twelve 100M+ funding rounds in H1 2024, with companies like Wayve, Abound, and Monzo raising significant amounts
• Only one unicorn created in H1 2024, with 195 acquisitions taking place, including Darktrace’s acquisition by Thoma Bravo for $5.3 billion
• London dominates UK tech funding, with BGF, Y Combinator, and Octopus Ventures as top investors in H1 2024

UK Tech Funding Landscape in H1 2024

In the fast-paced world of technology startups, keeping track of funding trends is crucial to understanding the health and growth of the industry. Read more

• Digital Skills Trust, Pam Fergusson Charitable Trust, winds down due to government funding reprioritization
• Ministry of Education shifts focus from digital literacy to structured learning, impacting trust’s operations
• Trust founded in 2014 by Vaughan Fergusson and Zoe Trimbrell, supported by corporate sponsors
• Trust provided coding and robotics programs for kids, teacher training, and mentoring
• Trust deregistered from Charities Register, faces financial challenges, and ceases day-to-day operations

Exploring the Impact of Government Funding Changes on Digital Skills Trust

In a recent turn of events, the Pam Fergusson Charitable Trust, operating under the name OMG Tech, is facing the difficult decision to wind down its day-to-day operations due to a shift in government priorities. Read more

• USTelecom urges FCC to require Big Tech to contribute to Universal Service Fund to offset infrastructure costs
• Big Tech companies benefit from broadband networks without contributing to maintenance and expansion
• Proposal to tax Big Tech based on revenue from user-generated data and utilization of broadband networks
• Tax on Big Tech could replenish programs like the Affordable Connectivity Program for a sustainable digital ecosystem
• Implementing a fair tax system for Big Tech would ensure equitable investment in essential internet infrastructure

Taxing Big Tech: The Case for Fair Contribution

The debate surrounding the taxation of Big Tech companies has gained significant traction in recent years, with stakeholders advocating for a more equitable system that ensures these tech giants contribute their fair share to essential public resources. Read more

• Pentagon tech hub, the Defense Innovation Unit, to use nearly $1 billion FY24 budget for existing and new projects in tech areas like counter uncrewed aerial systems and space transport
• Congress approved a significant funding increase for DIU to support its mission of fostering and fielding commercial capabilities swiftly
• Funding delay led to a short period for DIU to utilize the money, split into accelerating existing programs, launching new ones, and supporting projects within other DoD innovation organizations
• 50% of the funding to speed up priority efforts, 25% for new projects, and the remaining 25% to support coordination with other Pentagon innovation organizations and overcoming barriers to adopting new technologies
• Projects focus on closing critical military operational gaps, enhancing autonomous systems, and expanding industry outreach initiatives

Pentagon Tech Hub to Launch Dozens of New Projects with FY24 Funding

The Defense Innovation Unit (DIU) is gearing up to utilize most of its nearly $1 billion fiscal 2024 budget to expedite ongoing projects and introduce fresh initiatives in key technology sectors such as counter uncrewed aerial systems and space transport. Read more

• India’s tech funding in H1 2024 declined by 13% to $4.1 billion compared to the previous year
• Retail, enterprise applications, and fintech were the top-performing sectors in H1 2024
• Funding in the retail sector increased by 32%, while fintech investments dropped by 50%
• Tech funding across different stages saw a decrease, with early-stage startups experiencing the highest fall at 28%
• Despite the decline, there were eight funding rounds exceeding $100 million, and three unicorns emerged in H1 2024

India Tech Funding Sees a Downturn in H1 2024

In the fast-paced world of technology startups, funding plays a crucial role in fueling innovation and growth. Read more

• NATO Innovation Fund announces its first investments from €1B Fund to advance defense, security, and resilience sectors
• Investment aims to transform manufacturing, improve air travel, advance AI, and enable autonomous robotic solutions
• Fund supports venture capital managers investing in early-stage deep tech for civilian, defense, security, and resilience markets
• Backed by 24 NATO Allies, the Fund finances innovators in emerging technology sectors like energy, quantum computing, and artificial intelligence
• Fund provides support for up to 15 years to help entrepreneurs commercialize and implement solutions at scale

NATO Innovation Fund’s First Investments from €1B Fund

The NATO Innovation Fund (NIF) recently made an exciting announcement regarding its first investments from the €1B Fund. Read more

• China’s state funding and low-interest loans for nuclear power development puts them 15 years ahead of the US in high-tech nuclear power advancement
• China has 27 nuclear reactors under construction with average timelines of seven years, leading to scale economies and learning-by-doing effects
• High-tech nuclear reactors are seen as safer and more efficient, but critics raise concerns about proliferation and material risks
• The UN’s atomic energy chief emphasizes the importance of nuclear energy in decarbonization efforts, despite challenges and pushback
• China’s nuclear power industry has thrived with sustained state support and local strategies, leading to the development of innovative projects like the world’s first fourth-generation high-temperature gas-cooled reactor

China’s State Funding: A Nuclear Power Game Changer

In the realm of nuclear power development, China is making significant strides that are putting it on a trajectory far ahead of the United States. Read more

• Kenya has allocated $125.3 million for its annual ICT budget, supporting various government projects under the ICT Ministry, including initiatives like the digital superhighway and the Kenya Advanced Institute of Science and Technology.
• The budget aligns with the Kenyan government’s economic transformation agenda, focusing on digital solutions and youth empowerment to drive inclusive economic growth.
• Despite challenges with loan defaults, the Hustler Fund received funding for digital lending initiatives to support MSMEs and individuals.

• Free tech training program available for local veterans in the Chicago area
• New boat named after fallen deputy for Lake County Sheriff’s Office patrols Lake Michigan
• Donation from New Trier High School class of 1981 supports GoBabyGo program for children with disabilities
• Cook County offers 11-week free training program for veterans in collaboration with Microsoft
• The Record is a nonprofit community newsroom relying on reader support for independent journalism

Revitalizing the GoBabyGo Program with Generous Funding

The GoBabyGo program, aimed at providing electric cars for children with disabilities, has received a significant boost in funding thanks to a generous donation from the New Trier High School class of 1981. Read more

• Biotech companies exploring milk alternatives beyond cows due to concerns over avian influenza and safety of raw milk
• Genetic engineers developing methods to produce milk without cows
• London nonprofit becoming a major supporter of geoengineering research, aiming to combat climate change by reflecting sunlight
• Meta updating privacy policy to use user data for AI training, prompting concerns over data usage and privacy
• US Supreme Court upholding access to abortion pills, significant ruling since 2022 Roe v Wade overturn

Exploring Milk Alternatives

In recent times, concerns about the safety of traditional cow’s milk have prompted a growing interest in milk alternatives among consumers. Read more

• Amazon is adding $1.4 billion to its Housing Equity Fund, aiming to create and preserve 14,000 housing units in regions like Seattle, Nashville, and Arlington.
• The company’s total support for affordable housing now exceeds $3.6 billion, funding over 35,000 housing units in its hometown communities.
• Amazon’s Housing Equity Fund provides below-market loans and grants to public agencies, housing partners, and minority-led organizations, aiding moderate-income individuals and families in purchasing homes.

• KDB chief pledges W100tr high-tech fund, emphasizes Busan relocation for balanced growth
• Plans for 100 trillion won ‘Korea Rebound Program’ to support high-tech industries
• Funding based on government’s 2023 plan to nurture sectors like chips, displays, and bio
• Anticipated outcomes include inducing 80 trillion won in production and creating 140,000 jobs
• Urgent need for legal revisions to raise KDB’s capital limit and facilitate relocation to Busan

Revolutionizing Korea’s High-Tech Industries with a W100tr Fund

In a groundbreaking move, the chief of the Korea Development Bank (KDB), Kang Seog-hoon, has pledged a staggering 100 trillion won high-tech fund to propel the development of cutting-edge industries in Korea. Read more

• Illinois Secretary of State’s office awards $2 million in library tech grants to underserved communities
• 113 public libraries eligible for grants based on population served
• Grants aim to enhance technology offerings in libraries to meet community needs
• Eligible communities must have low tax base and high poverty rate
• Libraries encouraged to use grants for hardware, software, online collections, Wi-Fi, ADA compliance, and more

Expanding Access: Giannoulias Allocates $2 Million for Library Tech Grants

In a move to bridge the digital divide and enhance access to technology in underserved communities, the Illinois Secretary of State’s office has announced a significant initiative. Read more

• Biden administration announces $180 million in funding for fusion energy through the Fusion Innovation Research Engine (FIRE) program
• White House convenes meeting with leaders from government, academia, and industry to accelerate development of fusion pilot plant
• Department of Energy to focus on closing technology gaps towards commercial fusion power
• Lawrence Livermore National Laboratory achieves fusion ignition, but efficiency remains low
• DoE signs agreements with eight companies for milestone-based fusion development program, providing up to $46 million per company

White House Announces More Fusion Plans, Paltry Funding

The Biden administration is making waves in the world of fusion energy, with the recent announcement of new strategies and funding – albeit a relatively paltry amount – to advance the development of a future fusion pilot plant. Read more

• Feds resume funding for SDTC under NRC following damning AG report
• SDTC, created in 2001, faced suspension in fall 2023 due to governance issues
• Auditor General’s report found significant lapses in SDTC’s management of public money
• Minister Champagne announces enhanced oversight and new leadership for SDTC
• SDTC to be integrated into NRC with consolidated programs under Canada Innovation Corporation

Feds Resume SDTC Funding Under NRC Following Damning AG Report

The federal government has taken a significant step by resuming funding for Sustainable Development Technology Canada (SDTC) as part of its plan to bring the agency under the umbrella of the National Research Council of Canada (NRC) in the near future. Read more

• University of Northern Iowa physics faculty have received national funding for research in bioengineering, quantum information, and computing.
• The university secured three grants from the National Science Foundation, with the largest being a $20 million grant for bioengineering and advanced manufacturing projects.
• Projects led by UNI faculty include research on materials’ electrical and optical properties, quantum information storage, and two-dimensional materials for quantum computing.

• House Republicans propose steep cuts in funding for technology initiatives
• Technology Modernization Fund would receive no new funding in fiscal 2025
• Overall bill allocates 20% below White House budget request and 10% below fiscal 2024 funding
• Information Technology Oversight and Reform account would receive significantly less than requested
• Proposal includes policy riders on cybersecurity and IRS electronic filing systems

Tech Funding Cuts in House Republicans’ Proposal

In a recent development, House Republicans have put forward a fiscal 2025 Financial Services bill that includes significant cuts to technology funding. Read more

• Ottawa abolishes $1 billion green fund in response to scathing AG report revealing violations of conflict of interest policies and ineligible project funding by SDTC
• Auditor General Karen Hogan found SDTC violated policies 90 times, awarded $59 million to ineligible projects, and overstated environmental benefits
• SDTC, a federal foundation supporting clean-tech businesses, will transfer funds to the National Research Council of Canada for increased oversight
• Innovation Minister François-Philippe Champagne announced the move to enhance accountability, transparency, and integrity in managing public funds
• SDTC has implemented measures to ensure compliance with conflict of interest policies and proper disbursement of funds for clean tech projects

Ottawa Abolishes Green Fund Due to Scathing AG Report

In a significant move, the federal government has decided to abolish the $1 billion green fund following a scathing report by the auditor general. Read more

• ISRO is facing limited access to advanced technologies, insufficient funding for R&D, and regulatory hurdles
• Overcoming challenges requires increasing investment in aerospace research, forming international partnerships, streamlining regulatory processes, and encouraging private sector participation
• ISRO receives limited funding, with only a small percentage directed towards scientific missions like Chandrayaan and Mars Orbiter Mission
• Scientific missions like Chandrayaan inspire young minds to pursue careers in science and technology, contributing to the nation’s future
• Parth Tiwari, an aerospace scientist at ISRO, worked on the Chandrayaan-3 mission and highlights the importance of these missions for India’s future

Challenges in Accessing Advanced Technologies

Parth Tiwari, the aerospace scientist who played a crucial role in the Chandrayaan-3 mission, shed light on the challenges faced by the Indian Space Research Organization (ISRO) in becoming self-sufficient. Read more

• DEI backlash: Big Tech starting to slash DEI programs post-George Floyd murder
• Zoom laid off DEI team; Google, Meta defunding DEI programs
• Lawsuits target DEI programs, companies hide inclusion efforts
• AAER lawsuit against Fearless Fund for discriminating against white, Asian American founders
• Anti-DEI rhetoric rises, billionaire opinions divide, some efforts for inclusivity seen

DEI Backlash: Understanding the Latest Legal and Corporate Challenges

In recent times, the landscape of diversity, equity, and inclusion (DEI) initiatives has been undergoing significant shifts and challenges, leading to what has been termed as the “DEI Backlash.” Read more

• **District Funding Tips:** To avoid the next funding cliff, districts must plan for sustainability in technology programs and purchases.
• Developing a technology lifecycle plan can help schedule major expenditures and balance budgets over multiple years.
• Establishing technology standards can reduce costs for support and training by standardizing equipment.
• Disclosing the total cost of ownership with all purchases helps avoid unexpected financial burdens.

• Rio Grande do Sul state receives 1.5bn reais in loans for innovation companies, with 60% going to micro and SMEs, facilitated through Banrisul bank.
• Chile increases budget for science and technology projects and investments, with 100bn pesos allocated for the 2023-2024 period.
• Germany’s DEG invests US$20mn in a climate finance fund for mid-sized companies in Latin America.
• Brazilian startup Actis raises 1.2mn reais in a seed round led by InvesTech and TM3 Capital.