Tech industry stakeholders have described the £1bn funding behind the UK’s long-awaited semiconductor strategy as “disappointing” when compared to other nations.
This morning the government revealed a plan to boost the country’s semiconductor industry by focusing on research and design, and protecting chip supply chains by forging strategic partnerships.
However, the £1bn funding – split over 10 years – is significantly less than the $50bn allocated by the US and €43bn from the EU, drawing criticism from some semiconductor companies and investors.
“The level of investment announced for the next two-year period is disappointing, especially considering the UK needs to try to keep pace with the investment levels announced as part of the EU and US Chip Acts,” said Amelia Armour, partner at Amadeus Capital Partners....