The UK government has unveiled a £11.5 million pot of money to help 16 semiconductor companies scale up into large businesses and contribute more to the country's economic growth. The pot of money was unveiled by Science Minister Lord Patrick Vallance (you may remember him from the pandemic) and will be provided by Innovate UK.
While the amount of money in this pot may not seem like much, it's important to point out that Innovate UK invests £8 billion of tax payer money into research and innovation each year, so this £11.5 million is just one of many batches of investments the UK government is making into innovative businesses.
It is expected that this funding will help to scale up domestic manufacturing of semiconductors, which will also boost supply chain resilience. The UK's semiconductor sector is currently valued at almost £10 billion and by 2030, this will grow to £17 billion, according to a new report by Perspective Economics.
One of the projects that have been funded is Vector Photonics Limited in collaboration with the University of Glasgow. It is working on enhancing the power and cost-effectiveness of blue light lasers in everyday tech by using gallium nitride, a high-performance material. These lasers are used in devices like medical equipment, quantum displays, and car headlights.
Quantum Advanced Solutions Ltd working with the University of Cambridge is another recipient. It is developing advanced shortwave infrared (SWIR) sensors that improve vision capabilities in fields like defense. The company is trying to simplify the production process using quantum dot materials which offer higher sensitivity and performance. Aside from defense, this company's work will benefit sectors like manufacturing and healthcare.
With the world becoming more fractured with all the major wars going on and increasing tariffs and sanctions, the fact that the UK is bolstering its semiconductor industry is probably good as it could reduce costs for consumers and make the country more resilient to shocks.
Source: UK Gov
4 Comments - Add comment