{"id":51448,"date":"2024-09-26T10:25:56","date_gmt":"2024-09-26T09:25:56","guid":{"rendered":"https:\/\/www.innovationnewsnetwork.com\/?p=51448"},"modified":"2024-09-26T10:25:56","modified_gmt":"2024-09-26T09:25:56","slug":"uk-unveils-new-10bn-funding-for-semiconductor-firms","status":"publish","type":"post","link":"https:\/\/www.innovationnewsnetwork.com\/uk-unveils-new-10bn-funding-for-semiconductor-firms\/51448\/","title":{"rendered":"UK unveils new \u00a310bn funding for semiconductor firms"},"content":{"rendered":"

UK semiconductor firms producing vital technology from phone screens to surgical lasers are being backed in their efforts to scale up into large businesses and drive economic growth.<\/h2>\n

Science Minister Lord Patrick Vallance announced that 16 semiconductor firms will win a share of a \u00a311.5m pot\u2014provided by Innovate UK\u2014to drive innovation, as he opened an industry conference of G7 nations today.<\/p>\n

Pioneering projects across the country will help take the UK\u2019s thriving semiconductor industry<\/a> to the next level, further enhancing everyday life\u2014from more efficient medical devices to energy-saving phone screens\u2014and kickstarting economic growth.<\/p>\n

The UK semiconductor industry is set for rapid growth<\/h3>\n

This will be announced shortly before the Government\u2019s International Investment Summit, which will showcase the UK as a place to do business.<\/p>\n

Today\u2019s move is yet another reason for businesses to choose the UK as a place to invest\u2014it supports the industries of the future.<\/p>\n

A new report by Perspective Economics reveals that the UK semiconductor sector, which includes over 200 companies in research, design, and manufacturing, is valued at almost \u00a310bn and could grow to \u00a317bn by 2030<\/a>.<\/p>\n

Semiconductors are small chips at the core of everyday technology, from smartphones to renewable energy systems. This support will help\u00a0scale up domestic manufacturing and strengthen supply chain resilience.<\/p>\n

The funding comes as the G7 Semiconductors Point of Contact group kicks off with a stakeholder forum at major UK tech company Arm\u2019s HQ in Cambridge.<\/p>\n

Member States, research organisations, and industry representatives are discussing key issues affecting the global semiconductor industry, like supporting early-stage innovation and sustainability.<\/p>\n

Which semiconductor firms will receive funding?<\/h3>\n

Among the funded semiconductor firms is Vector Photonics Limited, which, in collaboration with the University of Glasgow,\u00a0aims to enhance the power and cost-effectiveness of blue light lasers in everyday technology by using gallium nitride, a high-performance material.<\/p>\n

Another project, led by Quantum Advanced Solutions Ltd. with the University of Cambridge, is developing advanced shortwave infrared (SWIR) sensors.<\/p>\n

These sensors improve vision in critical sectors like defence by supporting surveillance in challenging conditions in low-visibility environments, such as during adverse weather conditions or atmospheric disturbances.<\/p>\n

The project looks to simplify production using innovative quantum dot materials \u2013 tiny semiconductor particles that emit light at specific wavelengths \u2013 offering higher sensitivity and performance, cutting costs and making this advanced technology more accessible to multiple sectors, including manufacturing and healthcare.<\/p>\n

Science Minister\u00a0Lord Vallance said: \u201cSemiconductors are an unseen but vital component in so many of the technologies we rely on in our lives.<\/p>\n

\u201cBacking UK innovators offers a real opportunity to grow these firms into industry leaders, strengthening our \u00a310bn sector and ensuring it drives economic growth.\u201d<\/p>\n

He concluded: \u201cOur support for these semiconductor firms will promote critical breakthroughs such as more efficient medical devices that could significantly lower costs and faster manufacturing processes to improve productivity.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

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