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Britain will join EU semiconductor research initiative

A worker miniature is positioned amid printed circuit boards with semiconductor chips, in this illustration photo dated July 5, 2023

LONDON, March 13 (mod1s) - Britain said on Wednesday it was joining European Union efforts to develop and produce sophisticated semiconductors in Europe, donating 35 million pounds ($45 million) to an overall 1.3 billion euro ($1.4 billion) research and innovation fund. 

WHY IT IS IMPORTANT 

Both Britain and the EU have attempted to establish a local semiconductor supply chain after the epidemic highlighted their dependence on global chipmakers and crucial technology controlled by Chinese and U.S. corporations.

Britain said joining the European chips project will enable businesses in the British semiconductor industry to apply for funding from the wider European pool. 

CONTEXT 

Semiconductors are extensively, and increasingly, utilized in daily products, creating a worldwide subsidy race to recruit manufacturers and create new technologies. 

The European Commission in January offered a package of ideas aimed at enhancing economic security and limiting unwanted technology transfers to competitors such as China.

The EU last year authorized a 43 billion euro subsidy scheme comparable to incentive packages in China, the United States, Taiwan, South Korea and Japan. 

Last year, Britain entered the Horizon Europe scientific project, a crucial EU funding plan for numerous sorts of research and innovation which runs the semiconductor initiative and has an overall budget of 95.5 billion euros. 

Britain was previously prohibited from participating in Horizon due of issues over post-Brexit trade regulations.

($1 = 0.7824 pounds) 

($1 = 0.9160 euros)


Source: https://www.reuters.com/

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