SOUTHEASTERN PENNSYLVANIA — The Greater Philadelphia Region has been named a Precision Medicine Tech Hub in a recent announcement by the U.S. Department of Commerce. The initiative is led by Ben Franklin Technology Partners of Southeastern PA and aims to establish the region as a global leader in end-to-end precision medicine.
This designation is part of the first phase of the new Tech Hubs program, an economic development initiative designed to drive regional innovation and job creation by strengthening a region’s capacity to manufacture, commercialize, and deploy technology. The program invests directly in burgeoning, high-potential U.S. regions with the aim of growing their capabilities as globally competitive innovation centers.
In the Greater Philadelphia Region, this Tech Hub will leverage the region’s density of life sciences assets and research and development expertise to weave together disparate technology applications. These include biotechnology, medical technology, genomics, synthetic biology supported by artificial intelligence, machine learning, robotics, and more. Together, these tech-enabled efforts will deliver new ways to diagnose, prevent, and treat disease, increasing evidence-based technology applications that improve morbidity and mortality and decrease health disparities.
The Tech Hubs program was authorized by the bipartisan CHIPS and Science Act, a piece of legislation that Rep. Chrissy Houlahan (D-PA) voted for, and President Biden signed into law last year.
Rep. Houlahan applauded the federal investments and new, good-paying jobs that will come to the Greater Philadelphia Region because of its designation Monday as a Tech Hub by the Department of Commerce. “This is a great day for Pennsylvania and for our country,” said Houlahan. “As an engineer and chemistry teacher, I know our Commonwealth has long been recognized as a leader in STEM innovation, manufacturing, and education excellence and I’m so pleased that we will be home to one of our country’s first tech hubs to innovate and improve health care processes.”
U. Senator Bob Casey (D-PA) also advocated for Greater Philadelphia’s tech hub designation, as he firmly believes it is the ideal location to spearhead advancements in precision medicine. Senator Casey stated, “This transformative investment will further cement Southeastern Pennsylvania as a national and global leader in medical innovation. As a tech hub and a hydrogen hub, Philadelphia and the region are paving the way to our Nation’s economic future.”
The Tech Hubs program aims to strengthen U.S. economic and national security with investments in regions across the country with assets and resources with the potential to become globally competitive in the technologies and industries of the future. With their existing innovation assets as a foundation, these Tech Hubs will build the workforce of the future; enable businesses to start and scale; and deploy and deliver critical and emerging technologies.
The Greater Philadelphia Region Precision Medicine Tech Hub is eligible to apply for the Tech Hubs Phase 2 Notice of Funding Opportunity (NOFO). In Phase 2, the EDA will award implementation grants to 5-10 Designated Tech Hubs, with each of those Hubs receiving approximately $40-$70 million across approximately 3-8 projects.
This designation marks a significant step forward for Pennsylvania’s tech industry, promising increased economic activity, job creation, and advancement in healthcare initiatives.
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