Category: General News

• Affordable Connectivity Program ends due to lack of funds, impacting nearly 60 million Americans
• FCC administered the program, providing monthly credits for internet bills to low-income households
• Program served seniors, veterans, and rural and urban Americans during the pandemic
• Bipartisan legislation to extend the program stalled in Congress, with GOP leaders showing little interest
• President Biden calls for Congress to pass legislation extending the program, while some internet providers commit to offering low-income plans

Affordable Internet Program Ends: Impact on Low-Income Americans

The recent announcement by the Federal Communications Commission (FCC) to end the Affordable Connectivity Program due to lack of funds has sent shockwaves across the nation. Read more

• Twelve Trinity researchers secure funding for healthcare, climate, and tech innovations
• Projects led by researchers in STEM fields funded by Science Foundation Ireland and SEAI
• Awards valued at €1.28 million each, supporting postdoctoral positions and research assistants
• Research projects focus on areas such as antibiotic development, vaccine design, and immune system control
• Minister O’Donovan praises the awards for supporting world-class research in critical societal areas

Trinity Researchers Secure Funding for Healthcare Innovations

In a significant development for the research community, twelve Trinity researchers have successfully secured funding for innovative projects in the fields of healthcare, climate, and technology. Read more

• Fusion funding for startups has declined sharply in recent quarters after peaking two-and-a-half years ago, with only $58 million invested in fusion energy companies so far this year.
• In the fourth quarter of 2021, over $2.4 billion was invested in fusion energy startups, with a notable Series B funding of over $1.8 billion for Commonwealth Fusion Systems and a $500 million Series E for Helion Energy.

• Ireland research funding: €34m awarded by Government for 28 projects in STEM research across Irish higher education institutions
• Projects aim to address major societal challenges in healthcare, environment, and technology
• Funding supports 124 research positions, including postdoctoral researchers, PhD researchers, and research assistants
• Collaboration with Sustainable Energy Authority of Ireland for 4-5 year duration
• Projects include research on topics such as offshore wind turbines, nasal vaccine development, gut microbiome modulation, and 3D bioprinting technologies

Investing in Innovation: €34m in SFI Research Funding for 28 Projects Across Ireland

In a significant boost to the research landscape of Ireland, the Government has announced funding awards worth €34 million for 28 STEM research projects across various higher education institutions in the country. Read more

• Tech funding in Ireland slumps by 48% in the first quarter of the year
• Early and seed stage funding deals increased
• Venture capital funding for tech companies globally also decreased by around 20% in the first quarter
• Life sciences sector received almost two thirds of all VC funding
• IVCA calls for regulatory changes to increase domestic investment in venture capital

Understanding the Tech Funding Slumps

Tech funding slumps have been a cause of concern as venture capital funding for start-ups and tech companies has taken a significant hit in Ireland. Read more

• Five University of Galway research projects to receive nearly €6 million in funding for healthcare, climate, and tech research
• Alan Ryder’s project focuses on developing light-based techniques for measuring protein quality during manufacturing
• Sean Leen’s project aims to improve manufacturing processes for offshore wind turbine support structures
• Guangxue Wu’s project investigates microbial interactions for methane production in anaerobic digestion ecosystems
• Jurgita Ovadnevaite’s project aims to assess the sources and impacts of atmospheric aerosol particles

Galway Research Projects Securing Funding for Healthcare, Climate, and Tech Innovations

The University of Galway is making significant strides in research and innovation, with five projects recently announced to receive nearly €6 million in funding. Read more

• Aged care providers will not receive direct funding from the $1.4 billion allocated in the 2024 Federal Budget for aged care technology upgrades
• The $1.4 billion investment is part of a larger $2.2 billion allocation for critical aged care reform, with $600 million for system sustainment and $800 million for reform implementation
• The Government’s investments aim to benefit providers indirectly, with no direct grants at this stage
• Various aged care bodies, including Catholic Health Australia and ACCPA, have expressed disappointment and support for different aspects of aged care reform and funding decisions
• Opal Healthcare has commenced construction on a new $157 million, 121-bed aged care facility in Croydon, Melbourne

Impact of No Funding for Aged Care Providers in $1.4 Billion Budget for Technology

Amidst the anticipation surrounding the 2024 Federal Budget, a significant revelation emerged during the Department of Health and Aged Care’s ‘Tech Talk’ webinar. Read more

• Global focus on climate action increasing, with countries investing in the Green Climate Fund (GCF) for sustainable development.
• GCF aims to shift towards low-emission, climate-resilient development in over 120 countries, requiring adherence to Environmental Sustainability Goals (ESGs) for funding.
• Africa, despite low emissions contribution, faces severe impacts from climate change affecting various sectors and livelihoods.
• Nigeria, rich in resources, faces challenges like deforestation and rising sea levels, threatening cities like Lagos.

• Major hedge funds made significant investments in tech companies during the first quarter
• Hedge funds trimmed their investments in Alphabet but increased their holdings in Microsoft
• The investments were focused on the tech sector
• The shift in investments was notable among hedge funds
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Investing in Hedge Fund Investments

Hedge funds are known for their aggressive investment strategies and high-risk, high-reward approach. Read more

• NSF funding cuts termed as a ‘national security issue’ by officials during House panel hearing
• NSF Director expresses concern that cuts will lead to lack of funding for crucial research areas, benefiting global competitors
• Chair emeritus of National Science Board describes the cuts as ‘devastating,’ impacting future scientific advancements
• President Biden’s proposed budget seeks to increase NSF funding, but still falls short of CHIPS Act targets
• NSF receives over 40,000 proposals annually but can only fund a quarter, leading to concerns about missed opportunities for valuable research

NSF Funding Cuts: A National Security Concern

In a recent House hearing, officials from the National Science Foundation (NSF) expressed deep concerns over the impact of funding cuts on the agency’s research priorities. Read more

• Pittsburgh innovation funding is set to receive a significant boost from federal and state programs like the CHIPS and Science Act, the Inflation Reduction Act, and the Build Back Better Challenge.
• The funding initiatives aim to drive economic growth in Pittsburgh through place-based strategies, particularly in the advanced industry sector.
• Federal funds, such as the $280 billion CHIPS and Science Act, are supporting local tech development, including semiconductor research at institutions like the University of Pittsburgh.

• Vital funding from Newcastle Permanent Charitable Foundation supports Hunter DFV Consortium in combating tech-facilitated abuse
• Tech-facilitated abuse involves coercion, stalking, and harassment through technology
• Collaboration with WorkVentures to upskill frontline workers in identifying and addressing tech abuse
• Project includes educational resources, workshops, and a hotline for support
• Increasing awareness and strategies to enhance safety for victims of tech-facilitated abuse

The Importance of Tech Abuse Funding in Combatting Domestic Violence

In today’s digital age, technology has become a double-edged sword, offering both convenience and new avenues for abuse. Read more

• UK Space Agency’s Space for All fund supports 15 STEM projects across the UK
• Funding totaling over £1 million to attract new talent to the UK space sector
• Projects aim to engage young people from all backgrounds in STEM careers
• Examples include Cosmic Explorers in Northern Ireland and Space Learning Pathway in Glasgow
• Funding distributed to various organizations across England, Northern Ireland, Scotland, and Wales

Space for All Fund Funds STEM Projects Across the UK

The UK Space Agency recently made an exciting announcement regarding the funding of 15 projects across the UK aimed at inspiring younger people to pursue careers in STEM fields. Read more

• Defra is considering the establishment of a potential new fund to maximize value from agriculture R&D and innovation spending
• An expert advisory group has been launched to explore financing options for innovative projects in agriculture and environmental sectors
• The group will consider mechanisms such as joint ventures, revenue sharing, and intellectual property licensing to enhance the benefits of R&D spending
• The aim is to boost productivity, economic growth, and commercial success while offering taxpayers a return on investment
• The Advisory Group will consist of a Chair and seven members, with applications open until midday on Monday 3 June

Exploring New Funding Opportunities for Agriculture R&D

In an effort to maximize the value of research and development (R&D) investments in agriculture and nature, the Department for Environment, Food and Rural Affairs (Defra) is considering the establishment of a potential new fund. Read more

• UK firms gain access to European supercomputer funding through the EuroHPC programme
• EuroHPC is a collaborative initiative involving 35 countries, providing resources and funding for supercomputer projects
• The UK re-joined Horizon Europe in September 2023, allowing access to over £770m in EuroHPC funding
• Secretary of State Michelle Donelan emphasizes the importance of supercomputers for research and economic growth
• UK must provide match-funding for European supercomputer grants on a case-by-case basis

Unlocking Opportunities: UK Firms Embrace European Supercomputer Funding

In a significant development, UK businesses and researchers now have access to European supercomputer resources and funding through the European High Performance Computing Joint Undertaking (EuroHPC). Read more

• South Africa’s startup ecosystem has shown the most resilience in the funding downturn, with several startups successfully raising follow-on funding rounds.
• Factors contributing to South Africa’s resilience include a combination of business culture, macroeconomic conditions, and fundraising environment.
• South Africa was the only ecosystem in sub-Saharan Africa to see an increase in average valuations in 2023, attracting venture capital in terms of deal value and volume.

• Rochester state senators Liz Boldon and Carla Nelson clash over funding for RPS P-Tech program
• P-Tech program prepares students for careers in nursing and information technology
• Boldon proposes funding cuts for Rochester program, sparking disagreement with Nelson
• Nelson advocates for restoring program funding, facing opposition from DFL members
• Rochester’s P-Tech program faces financial uncertainty due to changes in state funding structure

Rochester Senators Clash Over P-TECH Program Funding

In Rochester, the state senators Liz Boldon and Carla Nelson have found themselves embroiled in a heated debate regarding the funding of the P-TECH program in Rochester Public Schools. Read more

• Rochester P-TECH program funding debate divides lawmakers Nelson and Boldon
• P-TECH offers hands-on nursing and technology experience, associate’s degree
• Program partnership with RPS, Mayo Clinic, and IBM, cost-free for students
• Current legislative session discussing state funding for P-TECH, potential cuts
• Senator Nelson pushes for continued support, Boldon seeks funding resolution

Rochester P-TECH Funding Debate:

In Rochester, Minnesota, the funding for the Rochester Public Schools’ P-TECH program has become a point of contention between local lawmakers. Read more

• Blacklisted Chinese tech giant, Huawei Technologies Co., is covertly funding scientific research at U.S. universities through a nonprofit foundation.
• Huawei is the sole funder of a research competition administered by the Optica Foundation, awarding millions of dollars and attracting proposals from top U.S. universities despite restrictions.
• The foundation does not disclose Huawei as the funding source, maintaining confidentiality to avoid promotional implications.

• Tech Hubs Race: Lessons from Past Federal Funding Program on Energy Efficiency
• Philadelphia’s former Energy Efficient Buildings Hub focused more on local economic development than national impact
• New Tech Hubs initiative prioritizes proven technologies and ecosystem approach for product development
• Federal government investing billions in economic growth and innovation, including Tech Hubs program
• Precision medicine bid in Philadelphia showcases potential for regional economic growth and healthcare advancements

Learning from Past Mistakes in the Tech Hubs Race

In the fast-paced world of technological innovation, the race to establish tech hubs across the United States is gaining momentum.

• Investment in technology-oriented ETF portfolio facilitates investors to enjoy growth from tech entrepreneurs as well as limits the risk by allocating capital to the leaders in the industry
• Tech ETFs in 2024 have high potential to disrupt traditional industries with cutting-edge technologies
• ARK Innovation ETF (ARKK) selects stocks of companies that reinvent existing industries and focuses on new ideas and technological advancements
• Vanguard Information Technology ETF (VGT) offers investment opportunities in U.S.

• Big tech names, including Xero and other cloud software firms, seek a meeting with Judith Collins as millions in funding for KiwiSaaS set to expire on June 30
• KiwiSaaS, a group formed in 2021 with $11.2 million in funding, consists of key industry players driving training efforts for the sector
• The letter sent to Collins by KiwiSaaS leaders aims to collaborate on future plans for the SaaS sector and maintain its growth momentum
• The SaaS sector in New Zealand has shown significant growth, generating $2.9 billion in export revenue with a 15% year-on-year growth rate since 2016
• Collins, responsible for Science, Innovation, and Technology, is expected to unveil new initiatives with the Budget on May 30, amidst tight fiscal constraints and demands for further funding for initiatives like Elevate venture capital fund.

• Inclusive funding is emphasized by NASA in recent contract awards
• National Science Foundation’s America’s Seed Fund supports startups with up to $2 million for R&D and commercialization
• NASA’s Small Business Innovation Research program funds innovative tech for Moon and Mars missions
• Phase II contracts worth $850,000 help startups bring surviving ideas to market within two years
• Recipients, including underrepresented groups like women-owned businesses, can access additional funding for project development efforts

Inclusive Funding Elevates NASA’s Contract Awards

In a recent move that underscores its commitment to diversity and innovation, NASA has emphasized the importance of “inclusive funding” in its latest contract awards. Read more

• Federal CIO Clare Martorana urges Congress to fund Technology Modernization Fund
• The fund facilitates expedited tech projects with expert board oversight
• Efforts are underway to accelerate tech deployment within agencies
• Focus on establishing governance, managing risk, and innovation in tech projects
• TMF supports national cybersecurity and enhances digital customer experience

Federal CIO Urges Congress to Fund Technology Modernization Fund

In recent news, Federal CIO Clare Martorana has called on Congress to allocate funding for the Technology Modernization Fund (TMF). Read more

• UK firms may be barred from funding emerging tech in hostile countries to prevent financing projects undermining national security
• Government considering blocking British investors from funding emerging technologies in hostile countries if they pose a threat to UK security
• Biden administration has power to stop US investment in Chinese institutions in specific sectors
• Deputy Prime Minister identifies China as the top state-based threat to UK economic security
• Universities at risk of manipulation by foreign governments due to openness to international investment, particularly in sensitive technologies

UK Tech Funding: Concerns and Considerations

In a recent statement, the deputy prime minister of the UK, Oliver Dowden, has raised concerns about the potential risks associated with British investors funding emerging technologies in hostile countries. Read more

• Tech workers protest Israeli funding at Google offices in South Bay, demanding an end to business ties with Israel
• Google employees across the country protest the war in Gaza, with some facing potential job loss for speaking out
• Organizers demand Google to terminate the billion-dollar Google Cloud AI contract with the Israeli government
• Project Nimbus, involving facial recognition and object tracking, is accused of fueling AI-powered genocide in Gaza
• Employees express concerns over mental health and safety, with some resigning due to Project Nimbus involvement

Tech Workers Protest Google’s Israel Funding

In a bold move to advocate for their beliefs, tech workers have taken to the streets, protesting Google’s funding ties with Israel. Read more

• Microsoft’s $1.5 billion investment in G42 highlights the growing US-China rift in the Gulf region
• The investment gives Microsoft a minority stake in G42, positioning it strategically in the UAE’s AI development
• Concerns have been raised by U.S. politicians about G42’s ties with China, prompting investigations into potential security risks
• The UAE’s increasing partnerships with China, including in military and business sectors, have raised alarms in Washington
• The partnership between Microsoft and G42 includes a $1 billion fund for AI skills development in the UAE, signaling a shift away from Chinese influence

Microsoft’s Investment in G42 Amid the US-China Rift

In the realm of global tech competition, the rift between the United States and China is becoming increasingly evident, with strategic moves by major players like Microsoft further highlighting the tensions. Read more

• Local SMEs are encouraged to apply for the Augment the City Challenge Fund to enhance visitor experiences in Northern Ireland
• The competition, funded by the Belfast Region City Deal, aims to develop immersive 5G tourism products
• Belfast City Council and partners are supporting innovators to utilize immersive technologies for future attractions
• The Challenge Fund offers crucial support for businesses to invest in innovation and create jobs in the region
• By supporting local SMEs, Northern Ireland aims to become a top destination for investment and tourism

Supporting Local SMEs for a Thriving Economy

In a bid to boost the economy and enhance tourism experiences in Northern Ireland, the new Augment the City Challenge Fund has been launched to support local SMEs in exploring the potential of immersive technologies. Read more

• The U.S. House of Representatives is advocating for the restoration of R&D incentives to fuel technological advancements.
• Businesses are increasingly integrating generative AI and automation to stay competitive.
• The Research & Development Tax Credit benefits companies investing in R&D expenses.
• Tax treatment changes are being proposed to increase capital available to American businesses.
• Businesses can leverage the R&D credit to fund technological advancements and generate significant refunds.

• Tech investment funding: Staple secures USD 4 million for global expansion of AI-driven document processing solutions
• Aliena raises USD 5.6 million for space tech advancements, including jet propulsion testing
• Toyota earmarks USD 300 million for startups with innovative technologies and business models
• BECIS secures a USD 50 million loan commitment for expanding renewable energy solutions in Southeast Asia
• Carro seeks around USD 100 million for pre-IPO financing, aiming for a valuation exceeding USD 1.5 billion

Tech Investment Funding in Asia Pacific: Recent Highlights

In the fast-paced world of tech investment funding, recent deals have showcased the growing interest in innovative solutions across various sectors. Read more