OSTP REVIEWS 'INDUSTRIES OF THE FUTURE' BUDGETS
Last week, the White House Office of Science and Technology Policy (OSTP) released a congressionally mandated report on the government’s strategy for fostering “industries of the future.” OSTP defined "industries of the future" as “advanced industrial sectors that support innovative, inclusive, equitable, and sustainable growth; have profound connection with technology R&D and STEM workforce; require R&D investments to support growth that will lead to transformative impact; and will significantly benefit future economic prosperity and national security.” Congress has tasked OSTP to increase federal civil R&D spending related to $10 billion annually by FY25, which the agency has already exceeded.