{"id":49760,"date":"2024-08-01T11:25:09","date_gmt":"2024-08-01T10:25:09","guid":{"rendered":"https:\/\/www.innovationnewsnetwork.com\/?p=49760"},"modified":"2024-08-01T11:25:09","modified_gmt":"2024-08-01T10:25:09","slug":"new-government-scheme-helps-uk-chip-start-ups-raise-10m","status":"publish","type":"post","link":"https:\/\/www.innovationnewsnetwork.com\/new-government-scheme-helps-uk-chip-start-ups-raise-10m\/49760\/","title":{"rendered":"New government scheme helps UK chip start-ups raise \u00a310m"},"content":{"rendered":"

11 chip start-ups working on semiconductors that make AI more efficient and create new lifesaving healthcare tech have joined a government-backed support service to help turn their research into business realities.<\/h2>\n

Semiconductor chips are fundamental to the technology that we interact with daily, underpinning everything from smartphones to AI and advanced medical devices.<\/p>\n

The companies will be the second group to go through ChipStart, an incubator programme launched in October 2023<\/a> with \u00a31.3m of backing to nurture a new generation of chip start-ups.<\/p>\n

It will also stimulate investment, totalling nearly \u00a320m in commitments from private investors and grants, to help drive economic growth.<\/p>\n

The chip start-ups pioneering the next generation of innovation<\/h3>\n

POM Health is among the companies joining the second round of the programme. It is pioneering the use of semiconductors to create a wearable patch for continuous hormone monitoring.<\/p>\n

This technology could transform healthcare<\/a> by enhancing fertility treatments, offering women precise, real-time insights into their hormonal health.<\/p>\n

HeronIC, another chip start-up joining the programme, has developed a software design tool that quickly creates custom chips for AI applications, boosting their energy efficiency and increasing performance for complex tasks.<\/p>\n

After receiving this support over the last year, Vaire Computing raised \u00a34.5m to develop revolutionary chips that use virtually no power. This innovation in energy efficiency has the potential to significantly extend smartphone battery life.<\/p>\n

With Vaire\u2019s semiconductors, smartphones could soon only need charging once a month.<\/p>\n

Another cohort member, Wave Photonics, closed an early funding round at \u00a34.5m for their tool, which simplifies the design of highly complex photonic chips, chips that use light instead of electricity, meaning they operate at much faster speeds and use much less power.<\/p>\n

Leading a semiconductor revolution in the UK<\/h3>\n

Following a first round that saw participants close over \u00a310m of funding from private investors and grants, with a total of nearly \u00a320m in commitments being finalised, ChipStart will continue to provide chip start-ups with:<\/p>\n