Senior U.S. Department of Commerce Official Visits Minnesota MedTech Hub 3.0 in Minneapolis-St. Paul, Minnesota

WASHINGTON, D.C. — Today, Eric Smith, Acting Deputy Assistant Secretary for Policy, at the U.S. Department of Commerce’s Economic Development Administration (EDA), visited the Minnesota MedTech Hub 3.0 (MMT3.0) in Minneapolis. The Biden-Harris Administration, through the EDA, designated MMT3.0, a coalition led by the Minneapolis Saint Paul Economic Development Partnership, as a Tech Hub in October 2023. 

MMT3.0 highlights the region’s role as an emerging global leader for Smart MedTech by integrating artificial intelligence, machine learning, and data science into medical technology. While there, Mr. Smith worked with the Tech Hub to strengthen their strategy to leverage its medical technology ecosystem and unique assets to interconnect data, support entrepreneurs, increase capital, remove barriers for workers, and accelerate innovation across the region.

The Tech Hubs Program is a flagship initiative aimed at advancing U.S. leadership in technologies and industries critical to national security. The designation of MMT3.0 as a Tech Hub is a strong endorsement of the region’s plan to supercharge its critical technology ecosystem and become a global leader in smart medical technologies, advancing U.S. national security and global competitiveness.   

“MMT3.0 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 Minnesota 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.” 

The Tech Hubs Program, authorized for $10 billion in the bipartisan CHIPS and Science Act, is designed to increase the capacity and pace with which Americans make, deliver, and deploy innovative technologies, creating new, growing companies and new, good jobs.  

Read more about the Tech Hubs program at TechHubs.gov. 

About the U.S. Economic Development Administration (www.eda.gov)  
The mission of the U.S. Economic Development Administration (EDA) is to lead the federal economic development agenda by promoting competitiveness and preparing the nation’s regions for growth and success in the worldwide economy. An agency within the U.S. Department of Commerce, EDA invests in communities and supports regional collaboration in order to create jobs for U.S. workers, promote American innovation, and accelerate long-term sustainable economic growth.