U.S. Secretary of Commerce Archives

Penny Pritzker

U.S. Secretary of Commerce Penny Pritzker will tour theÂ Manufacturing Demonstration Facility atÂ Oak Ridge National Laboratory in Knoxville on Thursday.Â It’s a trip toÂ tour the Institute for Advanced Composites Manufacturing Innovation, part of the National Network for Manufacturing Innovation.

President Barack Obama created the NNMI to strengthen the global competitiveness of America’s manufacturing sector and our workforce. The NNMI currently has six institutes, and three additional institutions under competition, each of which is focused on the development of a different 21st century technology.

The Institute for AdvancedÂ CompositesÂ Manufacturing InnovationÂ works to develop lower-cost, higher-speed, and more efficient manufacturing and recycling processes for next-generationÂ materials, including advanced polymer composites for vehicles, wind turbines, and compressed gas storage, a press release said. In addition, IACMIâ€™s research, development, and demonstration programs are focused on reducing technical risk and developing a robust supply chain to support a growing advanced composites industry. [Read more…]

A proposal team led byÂ Technology 2020, or Tech 2020, in Oak Ridge has received a $250,000 federal grant to create a seed capital fund.Â The goal is to establish a permanent source of professionally managed, seed-stage investment capital focused on technology-generating institutions, entrepreneurs, and young companies in Tennessee, a press release said.

The grant was announced this week by U.S. Secretary of Commerce Penny Pritzker.

Tech 2020 led a proposal team that included Memphis Bioworks Foundation, Meritus Ventures, and Innova Memphis. The team proposed to create the “TennesSeed Fund.”

The TennesSeed Fund team will receive the $250,000 grant, and it will be supported by Meritus and Innova to conduct an assessment of best practices, and then organize and launch a new seed fund focused on “proof of concept” financings in Tennessee. The initial focus of investments will be intelligent and sustainable transportation and logistics, which is an industry cluster where Tennessee has a competitive advantage bolstered by strong research, development, and commercial activity, a press release said. [Read more…]

U.S. commerce secretary to tour ORNL Manufacturing Demonstration Facility

Tech 2020-led team receives $250K grant for investment capital effort