[ST. PAUL, MN] – Governor Tim Walz today celebrated the news that the Biden-Harris administration, through the U.S. Department of Commerce’s Economic Development Administration (EDA), designated Minnesota MedTech Hub 3.0 as one of the 31 inaugural Tech Hubs in regions across the country that show potential for rapid growth in key technology sectors.

Minnesota MedTech Hub 3.0, a consortium led by Minneapolis Saint Paul Economic Development Partnership, will position Minnesota as a global center for “Smart MedTech” by integrating artificial intelligence, machine learning, and data science into medical technology. Leveraging its medical technology ecosystem and concentration of hospitals, research institutions, and medical device manufacturers, the MedTech Hub 3.0 will work to capitalize on regional assets to drive innovative collaboration in the MedTech sector.

“Minnesota leads the world in innovative medical technology, and as Governor I’ve made the case for critical investments in workforce development, education, research and more to bolster our position and keep us competitive,” said Governor Tim Walz. “The selection of our Minnesota MedTech Hub 3.0 in this highly competitive process is a recognition of our incredible ecosystem of private companies, regional economic development partners, healthcare providers, and world-class research institutions. I’m proud that Minnesota landed this federal investment to accelerate production of next-generation smart tech, creating jobs at home and improving health care around the globe.”

“We are honored and ready to continue to pave the way for medical technology growth,” said Lieutenant Governor Flanagan. “Minnesota has a long history of medical technology innovation, and this investment will create jobs and provide the next generation of innovators with more opportunities to make an impact on global health.”

This designation is part of the first phase of the novel Tech Hubs program, authorized by the CHIPS and Science Act, that will invest directly in high-potential U.S. regions and aim to transform them into globally competitive innovation centers. Designation is an endorsement of the region’s strategy to supercharge their respective technological industry to create jobs and strengthen U.S. economic and national security. Designated Tech Hubs are now eligible to apply for the next phase of the Tech Hubs Program that will invest between $50-$75 million in each of 5-10 Designated Hubs.

“A diverse and powerful team of leaders and organizations came together this summer through the GREATER MSP Partnership to create a plan to build the global future of medical technology,” said GREATER MSP CEO Peter Frosch. “Our MedTech 3.0 plan will increase Minnesota’s competitiveness, America’s economic security and opportunity for residents across the entire Greater MSP region.”

“Medtronic is proud to be a leader in Minnesota MedTech 3.0 alongside so many other great partners,” said Medtronic Chairman & CEO Geoff Martha. “This is a tremendous opportunity for Minnesota, and we’re committed to using our resources to ensure the success of this Tech Hub.”

"As one of America's leading research universities, the University of Minnesota has created a strong foundation of discovery and innovation for Minnesota's leadership in medical technology -- from the Visible Heart Lab in partnership with Medtronic to the Bakken Medical Device Center's Innovation Fellows Program , helping train the next generation in med tech,"said Jeff Ettinger, Interim President of the University. "We are honored to know the U of M will be an important contributor to the effort outlined today. We are ready to roll up our sleeves and get to work with public and private partners to advance Minnesota as a global leader and to bring Smart MedTech innovations to bear on behalf of all patients."

The 31 Tech Hubs were selected from 198 applications from regional consortia that include industry, academia, state and local governments, economic development organizations, and labor and workforce partners. The Tech Hubs span regions across 32 states and Puerto Rico and represent a cross section of urban and rural regions.

For a full list of Tech Hubs, visit TechHubs.gov .

About the U.S. Economic Development Administration

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.