May 23, 2023: On Friday, the U.K. announced up to £1 billion of help for its semiconductor industry, seeking to increase its domestic chipmaking capabilities and prevent further disruptions from providing after cries for help from bosses at a few of the nation’s leading firms.
The investment will be part of a 20-year strategy on semiconductors outlining the U.K.’s plan to secure its chip supplies and protect against national security risks.
The strategy, set to be published later Friday, sets out a range of measures to grow the U.K.’s domestic chip sector, mitigate the problems of supply chain disruptions, and protect national security.
The U.K. will look to surge cooperation with international people as part of its strategy. Britain struck a deal with Japan in Hiroshima to boost collaboration on defence and semiconductors.
The government said the administration will initially invest up to £200 million by 2025, which expands its commitment to up to £1 billion in the next decade. The funding will improve the talent pipeline and access to prototyping, tools, and business support.
“Semiconductors underpin the electronic devices we use every day and will be crucial which advances the technologies of tomorrow,” British Prime Minister Rishi Sunak stated.
“Our new strategy focuses our efforts on where our strengths lie, in areas such as research and design so that we can build our competitive edge on the global stage.”
“By increasing the abilities and resilience of our world-leading semiconductor industry, growing our economy, creating new jobs and staying at the main attention of the recent technological breakthroughs,” he added.
The new guidance will be published, informing businesses of the risks of supply shocks to prevent disruption from future supply shortages. At the same time, the U.K. will look to increase collaboration with international partners to improve the resilience of the global chip supply chain, the government said.
It added that an advisory panel consisting of figures from industry, government and academia has also been set up to work closely on shared solutions and implementation.