Britain launches $1.2 billion semiconductor plan after U.S. and EU splurge on chips
Summary
"By increasing the capabilities and resilience of our world-leading semiconductor industry, we will grow our economy, create new jobs and stay at the forefront of new technological breakthroughs," he added. Whereas the U.S. and European Union have pledged billions of dollars in support for their respective chip sectors, the U.K.s strategy faced delays and setbacks amid numerous changes in government owing to the resignations of former Prime Ministers Boris Johnson and Liz Truss. Pragmatic Semiconductor, a Cambridge, England-based startup that produces non-silicon chips, warned earlier this year that it may be forced to relocate overseas if the government doesnt issue a plan for the industry soon. Scott White, founder of British chip firm Pragmatic Semiconductor, said the governments £1 billion pledge — though small compared to that of the U.S and EU — "actually feels like the right kind of number" Britains industry needs. Britain is an understated player in the global chip market, specializing in design, intellectual property, research, and fabrication of advanced compound semiconductors.