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Press Release - 11th February 2021
The United States Innovation and Competition Act is a Once in a Generation Opportunity for the Innovation and Entrepreneurship Economy

Alec Wright, Chief Innovation Officer

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  • $26B in new federal funding is earmarked for Regional Technology Hubs, Innovation Centers, Academic Technology Transfer, and Testbeds/General R&D.

 

  • Universities, Entrepreneur Support Organizations, and Ecosystem Builders should organize immediately to apply for grant opportunities that will become available through the NSF shortly. 

 

  • OneValley is excited to collaborate with organizations interested in pursuing grants for regional or thematic entrepreneurship and innovation communities.

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On June 8th, 2021 The United States Senate, by a bipartisan vote of 68-32, passed the US Innovation and Competition Act (USICA).  The purpose of this legislation is to increase investments in US based technology and manufacturing with the goal of increasing competitiveness against China.

USICA sets aside $26 Billion earmarked for FY 2021-2026 made available for consortia that advance the Regional Technology Hubs, Innovation Centers, Academic Technology Transfer, and Testbeds/General R&D.  The current proposal designates NSF as the principal grantmaker for these funds, and identifies regional technology partnerships and consortium as one of the main recipients

In order for these regional technology partnerships to be in the best position to  win USICA related funding, it is critical that these partnerships are established as soon as possible.  Partnerships formed after legislation is fully reconciled will be at a distinct disadvantage to those that have already laid the groundwork for winning these grants which may be awarded as early as Q4 2021.

Dorsey and Whitney, a law firm that advises on IP and tech transfer, reiterates this in it’s recent blog post on June 17, 2021: 

“Given the likelihood of the bill’s passage, organizations with operations in any of the fields affected by the USICA should begin positioning themselves to apply for grant funding immediately”

While USICA is being reconciled with similar bills in the House or Representatives, OneValley is actively building regional partnerships to win USICA related funding.  These working groups assemble to discuss the following topics:

  • Explore roles and responsibility of each stakeholder in consortia

  • Discuss strategies to maximize likelihood of winning USICA related funding

  • Agree on a high level impact thesis

  • Allocate potential award grants to specific responsibilities owned by respective consortia partner

  • Grant proposal development and approval

For more information on how to partner with OneValley please email co-author and Head of Global Partnerships, Alex Fang.