Government scheme boosts UK chip start-ups with £10 million funding injection
The UK government’s ChipStart programme has enabled semiconductor start-ups to secure over £10 million in private investment and grants, with nearly £20 million in total commitments.
This initiative is fostering innovation in various fields, from AI efficiency to advanced healthcare technologies.
Eleven semiconductor start-ups have joined the second cohort of ChipStart, a programme launched in October 2023 with £1.3 million in funding to nurture new chip designers and attract substantial investment. The programme supports start-ups by providing access to commercial design capabilities, mentorship, and exposure to private capital, aiming to turn groundbreaking research into market-ready products.
Among the new participants is POM Health, which is developing a wearable patch for continuous hormone monitoring to enhance fertility treatments. HeronIC has also joined, bringing a software design tool that creates custom chips for AI applications, improving energy efficiency and performance.
Patrick Vallance, Minister for Science, stated, “Innovation in semiconductors can drive advancements across multiple sectors. The support from ChipStart is crucial in turning British research into commercial success, addressing global challenges and fostering economic growth.”
Following the first cohort’s success, which saw over £10 million in funding and nearly £20 million in commitments, ChipStart continues to propel early-stage semiconductor companies toward commercialisation and growth. This round includes nine firms from UK universities, further solidifying the UK’s position in the global semiconductor supply chain.
Sean Redmond, Managing Partner of Silicon Catalyst UK, highlighted the programme’s impact: “ChipStart UK is transforming academic innovations into market-ready technologies. The new cohort builds on the first group’s achievements, positioning them for global success.”
Participants from the initial cohort, such as Vaire Computing and Wave Photonics, have already secured significant funding. Vaire Computing raised $4.5 million to develop ultra-energy-efficient chips that could extend smartphone battery life to a month. Wave Photonics secured £4.5 million for its photonic chips, which use light instead of electricity, offering faster and more energy-efficient operations.
Rodolfo Rosini, CEO of Vaire Computing, praised the programme: “The networking opportunities and support provided by ChipStart have been instrumental in setting our company on a path to long-term success.”
James Lee, CEO of Wave Photonics, added, “ChipStart has given us access to expertise and tools that are essential for deploying our technology in diverse applications, from biosensing to quantum computing.”
With the continued support of ChipStart, the UK’s semiconductor industry is poised for significant growth, driving innovation and economic development.
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Government scheme boosts UK chip start-ups with £10 million funding injection
