On November 4, Hanna Virkkunen, the EU's tech chief, said the EU will invest €525 million to help chip startups scale faster, part of its push to develop the semiconductor industry and narrow the gap with the US and China.
The European Commission and EU countries will provide €440 million in grants to help startups cover chip R&D costs for commercial applications; another €85 million will fund a European chip design platform. At the platform's launch, Virkkunen said that without success in chip design, Europe cannot secure its place in the global semiconductor industry; a vibrant chip design ecosystem will further drive demand for manufacturing facilities and strengthen the entire European semiconductor value chain.
European Commission data shows European chip design firms currently account for less than 1% of global revenue in the field. The platform will offer startups chip design tools, design support services, IP modules, and manufacturing capacity support. With AI-related demand growing, the global chip industry is in a rapid growth phase.
ICgoodFind Summary: The EU's €525 million to support chip startups focuses on design tools, IP modules, and manufacturing capacity support. With European chip design at less than 1% of global revenue.
