Second round of ChipStart sees 11 more companies receive support

A further 11 companies have received funding through the government-backed ChipStart incubator, which is being delivered by Silicon Catalyst. The initiative was launched in October 2023, providing funding and support for 12 semiconductor startups to help them bring new products to market. 

The second round of startup companies to receive support includes HeronIC, which is developing chips for more efficient AI systems, and POM Health, which is developing wearable hormone monitoring patches for fertility treatment.

Minister for science Patrick Vallance said: “As well as the commercial success of the first cohort, the innovations ChipStart is supporting could help to change lives, from helping to develop new fertility treatments to optimising AI [artificial intelligence] and extending the battery life of devices we use every day. We are making sure British science leadership converts to help address critical global challenges and drive economic growth.”

Following a first round that saw participants close over £10m of funding from private investors and grants, and further funding commitments of nearly £20m being finalised, ChipStart said it would continue to provide early-stage semiconductor companies with access to commercial design capability, including the full silicon catalyst ecosystem, design tools, intellectual property and prototyping capabilities.

The initiative also offers access to commercial expertise and mentorship and exposure to private capital.

Sean Redmond, managing partner of SiliconCatalyst.UK, discussed how ChipStart was helping to transform academic innovations into market-ready technologies. “Nine of the 11 firms in the next group come from UK universities and are set to build on the success of the first cohort, which secured a strong position in the international semiconductor supply chain through private funding and global partnerships,” he said. “After nine months of rigorous training, ChipStart has created over 30 new UK semiconductor executives, ready to scale their businesses towards global success.”

One of the companies being supported by ChipStart is MintNeuro, whose CEO and co-founder, Dorian Haci, said it had secured additional funding and formed key partnerships since joining the programme. “These developments accelerate the commercialisation of our pioneering neural implant technologies, aimed at improving the lives of millions suffering from neurological conditions,” added Haci.

Another startup, Vaire Computing, raised $4.5m following support from ChipStart last year. The company specialises in energy efficiency in semiconductors, which has the potential to extend smartphone battery life significantly. Its co-founder and CEO, Rodolfo Rosini, said: “The networking opportunities provided by the SiliconCatalyst.UK ChipStart programme enabled us to execute on our vision and helped to set our company on a trajectory for long-term success. I strongly believe that expanding the programme’s role in the near term would be extremely beneficial for the UK chip industry.”

Another cohort member, Wave Photonics, closed an early funding round at £4.5m for its tool which simplifies the design of photonic chips. The technology could help in the development of energy-efficient communications.

James Lee, CEO of Wave Photonics, said: “Having raised funding during the programme, Wave Photonics is now deploying its technology to enable an explosion of integrated photonics applications beyond datacoms, including biosensing and quantum computing.”