UK semiconductor firms to get financial boost for AI innovation

A UK government-backed scheme called ChipStart is set to help a second round of companies acquire crucial funding to turn their research products into business realities. For an estimate of the support these companies can expect to get, we can look at the first-round participants who managed to get over £10 in funding and £20 million in commitments.

In addition to funding and commitments, ChipStart is helping startups access the following:

• access to commercial design capability: Including the full Silicon Catalyst ecosystem, design tools, IP, and prototyping capability
• commercial expertise and mentorship: Startups receive guidance from experienced semiconductor industry executives and connections to Silicon Catalyst’s global network
• exposure to private capital: Access to over 270 Silicon Catalyst advisors, Strategic Partners, and an extensive network of investment groups

The list of companies in the first cohort who have already secured funding are Blueshift Memory, Finchetto, HIDRA Vision, HyperCIM, Literal Labs, MintNeuro, RED Semiconductor, SECQAI, Singular Photonics, Vaire Computing, and Wave Photonics.

The companies that are part of the current cohort include Apitronix Semiconductor, Chevin Technology, HeronIC, KuasaSemi, Metahelios, Nanomation, PhovIR Technologies, POM Health, Qontrol, Rigpa, and Visionchip.

These startups are working on a variety of futuristic projects including making semiconductors with nanomaterials, 24/7 hormone tracking to improve healthcare, and the development of chips to enable artificial general intelligence.

By providing this support, it'll be more likely that these startups can become viable businesses. The country has a good track record when it comes to hosting startups so that's a good sign for these small companies.

The UK's Minister for Science, Patrick Vallance (Brits will remember him from the pandemic), said that the companies being backed by the funding have the potential to help change lives whether that be with new fertility treatments or optimising AI and extending the battery life of devices we use daily. He said that this programme will help convert research leadership into solutions for global challenges and help drive economic growth.