A new wave of semiconductor startups will join Chipstart, a UK government-supported incubator programme, which will help businesses to scale, create jobs and drive growth.
Chipstart provides technical expertise and commercial support to help UK-based semiconductor innovators grow and create sophisticated professions.
The first two cohorts of companies are already on track to raise more than £40 million in private investment.
The role of semiconductors in new technological innovations
Semiconductors are the foundation of the UK’s technological economy, and the sector is already worth £10 billion and is projected to grow to £17 billion by 2030.
They drive the technologies we rely on every day, from smartphones and medical devices to electric vehicles and cutting-edge AI.
They control the power flow of electronic systems and as the demand for smarter and more efficient technologies grows, the UK is well placed to lead, backed by a world-class innovation ecosystem and a thriving entrepreneurial environment.
The UK is Europe’s number one country for venture capital investment, with the lowest corporate tax in the G7, benefiting from a highly skilled workforce and major academic institutions.
Chipstart: From early stages to commercialization
Chipstart, provided by Siliconcatalyst.uk, has successfully transformed ideas into real-world products for early-stage semiconductor companies by providing expert guidance, industry connections and access to cutting-edge design tools.
Supporting these high potential companies as part of government change plans and broader industrial strategies will strengthen the UK’s position as a global leader in entrepreneurship and create the conditions for technology that will change the next generation of world-changing technologies to enhance the growth and growth of communities across the UK.
Minister of Science, Minister of Balance explained: “The UK’s semiconductor industry is thriving in innovation. This third cohort of chipstart shows how much potential they have in many exciting startups.
“The sector holds incredible promises and with the right partnership we will lead us to a future of greater economic growth and technological advancement.”
Great growth in the UK chip industry
The announcement is based on the UK’s growing momentum in semiconductors, following Vishay Intertechnology’s plan to invest £250 million in the UK’s largest semiconductor factory.
The investment, announced by the Prime Minister during a visit to South Wales yesterday, will strengthen the UK’s semiconductor supply chain, which is important for industries such as automobiles, renewable energy and defense.
With South Wales emerging as a key semiconductor cluster, this investment highlights the UK’s competitive advantage in advanced chip manufacturing.
The companies in the first two Chipstart cohort are already on track to raise more than £40 million in private investment, demonstrating an impressive return on investment related to the strength of UK semiconductor startups and government support.
Another successful company in the first cohort, Wave Photonics is a pioneer in design technology and accelerates the development and mass production of integrated photonics. This is a circuit that uses light rather than electricity.
These innovations pave the way for energy-efficient AI communications, next-generation healthcare sensors, quantum technology and more.
“We’re looking forward to seeing you in the world,” said James Lee, co-founder of Wave Photonics.
“Along with training and connections with mentors, Chipstart will plug directly into the UK semiconductor ecosystem and help you learn from the success of previous generations of UK semiconductor startups.”
Companies participating in new cohorts
This year’s cohort (£1.1 million government funding) includes RX-Watt, the pioneer of battery-free sensors that can be driven wirelessly using secure microwave signals.
Their technology can save time and money in industries that rely on monitoring products and products in real time. Manufacturers prevent expensive equipment from breaking down and ensure that critical products, such as vaccines, are stored at appropriate temperatures throughout the supply chain.
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