$20 Million Invested in Phase II of NextFlex Initiative
New York State is investing $20 million to support the next phase of the NextFlex initiative.
According to a press release from Governor Hochul's office, the initiative is dedicated to developing flexible and additive hybrid electronics devices.
The money is going to the Research Foundation of the State University of New York on behalf of Binghamton University - the New York Node of the NextFlex nationwide consortium.
Companies and universities work together to develop new technologies, supply chains and manufacturing infrastructure, and train workers needed for the technology manufacturing base.
The second phase of NextFlex will provide state-of-the art solutions for healthcare concerns, energy generation, and aviation. The total cost of the project is estimated to be $45 million. With the $20 million invested from the state, the remaining $25 million will come from the federal government and private investment from NextFlex members.
The first phase received $20 million in 2016 from Empire State Development, and focused on the development of flexible and printed electronics in the U.S.
The NextFlex consortium is comprised of nearly 100 American electronics companies and academic institutions and partnerships with dozens of other non-profits, state, local and federal government entities with the shared goal of advancing U.S. manufacturing of printed flexible and additive electronics.