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Obama Announces Innovation Hubs Pairing Companies and Universities

President Obama on Wednesday announced the creation of two institutes in the Detroit and Chicago areas that will pair universities with private companies and nonprofit organizations in an effort to spur innovations in manufacturing.

The new institutes are being supported by $140-million in federal money and an additional $140-million from nonfederal sources.

The Detroit-area institute will focus on innovations in the manufacturing of lightweight and modern metals. The Chicago-based institute, which will be led by UI Labs, a nonprofit research-and-development arm of the University of Illinois, will focus on innovations in digital manufacturing and design.

The full lists of the universities that are involved in the two institutes can be found in the White House’s announcement.

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