IU announces $111 million investment to advance leadership in high-tech industry

LOUISVILLE, Ky. (WDRB) -- Indiana University plans to invest $111 million in the high-tech industry.

Over $23 million will help the university recruit 25 new faculty members over the next five years in areas such as microelectronics, nanotech, artificial intelligence and cybersecurity, according to a news release.

IU said it will focus on hiring faculty with experience in the Department of Defense and the "creativity and entrepreneurial ability to develop dual-purpose technologies and capabilities."

Over $53 million will be invested into laboratories, facilities and equipment to support research areas with national defense applications.

Another $10 million will launch a new Center for Reliable and Trusted Electronics called "IU CREATE." The university said the center will build on an existing initiative at its Luddy School of Informatics, Computing and Engineering.

The university said it will also implement new degree programs to train students in creating microelectronics. Another $1 million will be used each year for the next five years to support faculty research in "key technology areas" like biotechnology and synthetic biology.

The money will be invested over the next several years in an effort to advance the university's "national leadership in microelectronics and nanotechnology."

Officials said these and "forthcoming" investments will "address emerging semiconductor technologies, drive talent development and respond to critical defense needs."

To read more about the investment, click here.