The US Department of Commerce has announced $19 million in funding for the South Florida ClimateReady Tech Hub, one of 12 " Tech Hubs" across the country designed to advance new technologies in critical industries.
Florida International University will receive $10 million for projects including technology development and maturation, as well as $6 million for the workforce development component of the hub, which is a consortium led by Miami-Dade County Innovation and Economic Development Office, reports the Miami Herald.
Over the next five years, partners will provide services and mentorship to at least 60 infrastructure innovation startups and small businesses.
Companies will have access to research and development equipment, fabrication space, deployment opportunities, production facilities, technology testing and validation, and experts in academia and industry.
Other partners include Titan America, the University of Miami, and the Knight Foundation.
"In all cases, these aim to ensure durability, reducing concrete emissions, and in some cases, turning concrete into a carbon-absorbing sponge," says FIU President Kenneth A.
Jessell.
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Senay Ataselim-Yilmaz, Chief Operating Officer, Turkish Philanthropy Funds, writes that philanthropy often solves the very problems that stems from market failure. Some social issues, however, cannot be tackled by questioning the return on investment.