The Biden administration unveiled its plan to invest more than $2 billion into the U.S. biotechnology sector directly ahead of a government-led summit on the emerging industry.
on Monday signed an executive order that launched a national biotechnology and bio-manufacturing initiative, and on Wednesday the White House will hold a summit with top government officials and department heads to discuss plans on how to administer the order and allocate the money.
The executive order allows the federal government to direct funding for the use of microbes and other biologically derived resources to make new foods, fertilizers and seeds, as well as making mining operations more efficient, administration officials said. The White House will invest $1 billion of the Department of Defence's funds into bio-industrial domestic manufacturing infrastructure over the next five years. Pictured: The White House in Washington D.C., on March 6, 2021.to fund bio-industrial domestic manufacturing infrastructure over five years to boost the industry and make it accessible to U.S. innovators.
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