EU launches €525 million plan to help chip design startups scale
The European Commission and EU countries will provide €525 million for chip startups and a new European Chip Design Platform, Reuters reports. European chip design companies currently generate less than 1% of global revenue in the segment.
The funding includes €440 million in grants to help startups and small companies develop chips for commercial use. Another €85 million will fund cloud infrastructure, support services, open source design tools, intellectual property blocks and access to manufacturing capacity.
The EU budget will supply €285 million, while countries taking part in the Chips Joint Undertaking will provide €240 million, Technology.org reported. Belgian semiconductor research organization imec coordinates the 12 partner consortium operating the platform.
"We know that Europe can't strengthen our position in the global semiconductor industry if we don't succeed in chip design," said Henna Virkkunen, the Commission's executive vice-president for tech sovereignty. The sum is modest next to Nvidia's spending in Europe, Trending Topics noted.
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