Commerce Department starts process to fund tech hubs across the US with $500 million in grants

WASHINGTON (AP) — The Commerce Department is launching the application process for cities to receive a total of $500 million in grants to become technology hubs. The $500 million is part of a $10 billion authorization from last year’s CHIPS and Science Act to stimulate investments in new technologies such as artificial intelligence, quantum computing and biotech. It’s an attempt to expand to the entire United States tech investment that’s largely concentrated around Austin, Texas; Boston; New York; San Francisco; and Seattle. Commerce Secretary Gina Raimondo says, “This is about taking these places on the edge of glory to being world leaders.” The application process for cities to receive the tech hubs grants starts Friday.