The CHIPS and Science Act authorizes $174 billion in unprecedented funding support in regions across the U.S. for science and tech-based R&D and commercialization
TUCSON, AZ and COLLEGE PARK, MD / ACCESSWIRE / December 15, 2022 / Research parks, innovation districts and related entities across the United States should prepare and strategize now to compete for federal funding from the recently enacted CHIPS and Science Act of 2022, according to a new white paper from AURP, the leading nonprofit organization representing research parks and innovation districts.
The white paper, prepared by Brian Darmody, AURP Chief Strategy Officer, showcases a dynamic range of ways organizations and institutions - such as research parks, innovation districts, businesses, universities, federal labs, states, regions and local communities - engaged in science and technology-based economic development can leverage the unprecedented amount of federal grant funding authorized in the CHIPS and Science Act.
According to the AURP white paper, The Geography of Technology, Science, and Innovation Under the CHIPS and Science Act, the Science portion of the CHIPS and Science Act includes $174 billion in spending over the next five years for investments in science, technology, engineering and math programs, workforce development and R&D. Most of this authorized funding is for scientific R&D and commercialization.
In addition, the CHIPS and Science Act authorizes roughly $77 billion for the development of technology hubs across the U.S., funded by the U.S. Department of Commerce (DOC), National Science Foundation (NSF) and U.S. Department of Energy (DOE). One key component of the new law creates a minimum of 20 geographically distributed innovation hubs, funded by the DOC, focused on tech transfer, job creation and expanding U.S. innovation capacity in six regions throughout the U.S.
While the CHIPS and Science Act, approved last August, authorizes these program funds, full funding remains to be appropriated by Congress.
"The Science portion of the CHIPS and Science Act is an unprecedented opportunity to build communities of innovation in all regions across the U.S.," writes Brian Darmody, CSO of AURP. "Yet none of this will matter if yearly appropriations for these programs don't follow. It is critical for communities of innovation to work with their local, university and industry federal relations offices, local state Congressional delegations and national groups, such as the SSTI Innovation Advocacy Coalition, to obtain federal support and funding for science."
Among the AURP White Paper's key recommendations is that research parks, innovation districts and related entities work now to securing funding from other stakeholder partners - including relevant state government agencies, private sector companies, foundations, plus county or city resources - to support building regional technology hubs and communities of innovation.
Furthermore, the AURP White Paper provides a practical, one-stop guide as to how entities planning to compete for CHIPS and Science Act funds can lay the groundwork to be organized to apply for these federal funds as Congress approves program appropriations.
The guide details relevant federal regions and regional offices that will be central to overseeing the CHIPS and Science Act's program operations. It also highlights national and international economic development organizations that develop communities of science and technology innovation and economic growth through regional, state, local and institutional partnerships.
Download the AURP White Paper.
About AURP:
AURP, a non-profit international organization with offices in the Washington, DC area at the University of Maryland Discovery District and in Tucson, AZ at the University of Arizona Tech Park, focuses on creating communities of innovation and education for research parks both operating and planned, plus innovation districts, incubators, accelerators and the businesses that support the research park industry. AURP and its global membership promote research, institute-industry relations and innovation districts to foster innovation and to facilitate the transfer of technology from such institutions to the private sector. Learn more: aurp.net
Media Contact:
Ken Berlack
AURP
kenberlack@aurp.net
SOURCE: AURP
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