UK government invests £1.1 million to boost semiconductor startups
Summary
The UK government believes the countrys semiconductor sector holds a lot of promise, and to this end, has decided to back a third cohort of startups in the ChipStart programme with \xa31.1 million. ChipStart is a government-backed incubator programme which has a mission of helping startups to scale up, create jobs, and boost growth.The third cohort consists of 10 companies including Chipletti, Ethicronics, Kahu, Kelvin Quantum, Unnamed from the University of Glasgow, Prospectral, Quantopticon, RxWatt, SiDesign, and Smith Optical.Through ChipStart, the startups will gain access to technical and financial support. The government backs it in the hope that it helps semiconductor players to grow and that high-paying jobs are created as a result. A successful business from the second cohort was KuasaSemi which is creating a new design for semiconductors used in electric vehicles and other renewable energy technologies.In the latest cohort, one of the businesses is RX-Watt which is working on new battery-free sensors that can be powered wirelessly using safe microwave signals. The government said that the startups will also benefit from the countrys number one position in Europe for venture capital investment, its low corporate tax rate, and a highly skilled workforce.
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