EDA and Partners Commit $33M to Grow Regional Innovation Clusters

The Economic Development Administration (EDA) in partnership with 15 other federal agencies and bureaus intends to commit $33 million in direct federal funding and provide technical assistance resources for the Jobs and Innovation Accelerator Challenge — a new public-private initiative focused on supporting and accelerating the growth of regional innovation clusters that exhibit high-growth development potential.

Approximately 20 industry clusters will be selected through a nationwide competitive process that includes all industry sectors. Three agencies will provide direct funding with the additional 13 agencies and bureaus providing technical assistance resources to support customized solutions for each awardee.

Challenge investments also are intended to serve as a catalyst for leveraging private capital in the regions from sources including foundations, financial institutions, corporations and other private sector partners. Sometime in May 2011, EDA will announce the competitive solicitation for this challenge. Read the Federal Register announcement http://ssti.us2.list-manage.com/track/click?u=3b83ca94cd43c0588e1cc5785&id=a47bb48145&e=74bb350b16 or the press release…