Europe to invest €525 million in chip startups to catch up with US and China
The European Union has announced a €525 million investment in chip startups to accelerate their growth and help Europe catch up with the United States and China in the global semiconductor industry. EU tech chief Henna Virkkunen revealed the plan on Wednesday, stating that €440 million in grants will support startups in developing commercial chips, while an additional €85 million will fund a European Chips Design Platform.
Virkkunen emphasized the importance of chip design for Europe's position in the industry, noting that the design ecosystem currently accounts for less than 1% of global revenue in this segment. The platform will provide startups with access to chip design tools, support services, intellectual property blocks, and manufacturing capacity.
As the chip industry booms due to strong demand driven by AI, this investment aims to foster a vibrant design ecosystem, creating demand for manufacturing facilities and strengthening the entire value chain in Europe.
Written by urgent.news from Investing.com's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
- US export restrictions on China threaten SK Hynix's plans to build $45 billion worth of chip plants in New York techspot.com
- SK Hynix’s New York chip plans hit snag over US restrictions on China, sources say investing.com
- China outlines plans for moonshot it hopes to land by 2030 theregister.com
- SK Hynix's New York chip plans hit snag over US restrictions on China, sources say koreatimes.co.kr
- Sources: US officials have held up approval for US chipmaking equipment needed by SK Hynix to expand in China, complicating its plans for new plants in New York (Karen Freifeld/Reuters) reuters.com
- SK Hynix's New York chip plans hit snag over US restrictions on China, sources say economictimes.indiatimes.com
- SK hynix’s $45b New York chip plans hit export snag: sources techinasia.com
