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Semiconductor market scaleups to benefit from multimillion-pound investment from Innovate UK
National innovation agency Innovate UK is offering 16 semiconductor scaleups access to millions of pounds of funding to support their continued growth
The UK semiconductor industry has secured millions of pounds in government funding to help accelerate the growth of 16 of the sector’s scaleup businesses.
The scaleups are set to receive a share of £11.5m in funding, provided by the national innovation agency, Innovate UK, as part of a government-backed growth push targeting the semiconductor industry, known as the 2023 National Semiconductor Strategy.
The technology has a wide range of use cases, from phone screens to surgical lasers, and according to research compiled by Belfast-based policy advisory firm Perspective Economics, the UK market for semiconductors is valued at close to £10bn, and could grow to £17bn by 2030.
Among the organisations set to benefit from the funding is University of Glasgow-affiliated Vector Photonics, which aims to enhance the power and cost-effectiveness of blue light lasers, which feature in medical equipment, quantum displays and car headlights.
Quantum Advanced Solutions is another beneficiary. It’s working with the University of Cambridge to develop advanced shortwave infrared sensors to improve vision in critical sectors such as defence.
“Pioneering projects across the country will help take the UK’s thriving semiconductor industry to the next level as it further enhances everyday life – from more efficient medical devices to energy-saving phone screens – and kickstart economic growth,” said the government in a statement.
News of the funding coincides with the start of a semiconductor market stakeholder forum for the G7 Semiconductors Point of Contact Group at Arm’s HQ in Cambridge.
Read more about the UK’s semiconductor strategy
- The UK government is putting £1bn into semiconductor research and design over the next 10 years to develop a robust chip sector.
- The national semiconductor strategy needs to encourage greater collaboration with international parters such as South Korea.
The group, established under Italy’s G7 presidency earlier this year, is focused on addressing issues impacting the semiconductor industry, including early stage innovation, crisis coordination, sustainability, and the impact of government policies and practices.
To this point, at the ARM event, member states, research organisations and industry representatives will meet to discuss how to resolve these issues.
“Semiconductors are an unseen but vital component in so many of the technologies we rely on in our lives, and backing UK innovators offers a real opportunity to grow these firms into industry leaders, strengthening our £10bn sector and ensuring it drives economic growth,” said science minister Lord Vallance.
“Our support in these projects will promote critical breakthroughs such as more efficient medical devices that could significantly lower costs and faster manufacturing processes to improve productivity.”
Vallance added: “Hosting the G7 semiconductors Points of Contact group is also a chance to showcase the UK’s competitive and growing sector and make clear our commitment to keeping the UK at the forefront of advancing technology.”
Iain Mauchline, innovation lead for electronics, sensors and photonics at Innovate UK, said its investment and involvement in this project is geared towards shining a light on the diverse range of use cases that semiconductors are involved in.
“It has been recognised that semiconductors are key enablers for the UK’s ambitions across all critical technology areas,” he said. “Funding these diverse projects highlights the strengths and depth of the UK’s semiconductor ecosystem.”
