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Dozens of organizations state support for Regional Innovation Strategies
More than 50 current and former program awardees, along with 11 tech-based economic development-focused organizations led by SSTI have signed letters supporting the Regional Innovation Strategies program at EDA. Since 2014, when the program first received funding, EDA has funded 180 projects across nearly every state, D.C., and Puerto Rico. In FY 2019, Congress appropriated $23.5 million. These projects have supported specific regional activities, including mission-focused seed investing in Kansas, maritime tech demonstrations in Washington, and incubator services in Florida.
While the FY 2019 appropriation is the largest in the program’s history, demand is such that EDA is only able to fund approximately one in every six applications. The $23.5 million is also significantly less than the COMPETES legislation’s vision of a $100 million program. The letters call on Congress to consider further support for the program, enabling more regions to leverage local assets in building robust innovation economies.
Read the letters here: