Eric Smith’s Visit to Philadelphia’s PROPEL Tech Hub Signals Strategic Focus on Precision Medicine
WASHINGTON, D.C. — In a significant move to bolster the U.S. technology landscape, Eric Smith, Acting Deputy Assistant Secretary for Policy at the U.S. Department of Commerce’s Economic Development Administration (EDA), paid a visit to Philadelphia’s PROPEL Tech Hub. This comes after the hub’s recent designation as a Tech Hub under the Biden-Harris Administration.
The PROPEL Tech Hub, led by Ben Franklin Technology Partners of Southeastern PA, serves a critical geographic quadrant that includes Delaware, Maryland, New Jersey, and Pennsylvania. It has been recognized for its potential to become a global leader in precision medicine, with a focus on innovative approaches to diagnosing, preventing, and treating diseases. During the visit, Smith and the Tech Hubs Program team engaged with local leaders to enhance the region’s strategy for advancing in these areas.
The Tech Hubs Program is a central initiative designed to reinforce U.S. dominance in key technological fields crucial to national security. PROPEL’s designation underscores the region’s strategic plan to elevate its technological ecosystem, aspiring to make it a global frontrunner in precision medicine over the next ten years, thereby supporting U.S. security and competitiveness on the world stage.
“The PROPEL Tech Hub embodies the spirit and potential of the Tech Hubs Program to take centers of excellence and make them world-class tech ecosystems through targeted investments,” said Secretary of Commerce Gina Raimondo. “That’s precisely why I’ve asked Eric Smith to travel to Philadelphia with a team to meet with leadership and provide technical assistance on their strategy. The Tech Hubs Program is crucial to ensuring tech industries vital to U.S. economic and national security start, stay, and grow in the U.S., and that’s why I’m committed to future rounds of funding and working with lawmakers to support additional federal resources to support all of our designees.”
Funded through the bipartisan CHIPS and Science Act with a hefty $10 billion authorization, the Tech Hubs Program aims to accelerate the U.S. capacity in innovation, fostering the creation and growth of companies and high-quality jobs.
Read more about the Tech Hubs program at TechHubs.gov.
