Patrick Vallance, UK’s science minister, has reversed his earlier scepticism over small grants worth £1 million each.
- Previously concerned about undercapitalisation, Vallance now supports a £11.5 million fund distributed among 16 projects.
- The scheme aims to stimulate innovation and growth in the UK’s £10 billion semiconductor sector.
- Projects supported include advancements in blue light lasers and SWIR sensors with potential large-scale industry impact.
- This initiative aligns with the G7 discussions on innovation and sustainability within the semiconductor industry.
Patrick Vallance, the UK’s science minister, has recently shifted his stance on the sufficiency of small-scale financial support for startup companies, particularly in the semiconductor industry. Previously voicing strong concerns about undercapitalisation, Vallance had remarked that startups receiving only £1 million were facing significant challenges, stating, “shit, you’re in trouble.”
Contrary to his initial opinion, Vallance has endorsed a new initiative that offers small grants from a total pool of £11.5 million. This scheme, supported by Innovate UK, is designed to fuel innovation across the semiconductor sector, with 16 projects benefitting from this funding. These projects are to receive an average of £720,000 each, which Vallance suggests could stimulate substantial growth and development.
Among the beneficiaries of this funding is Vector Photonics Limited, collaborating with the University of Glasgow. Their project focuses on enhancing the performance and cost-effectiveness of blue light lasers using gallium nitride, which is a high-performance material. Another recipient, Quantum Advanced Solutions Ltd, alongside the University of Cambridge, is developing advanced shortwave infrared sensors. These sensors are intended to improve visibility in critical areas such as defence, enhancing surveillance capabilities under challenging conditions.
This strategic funding comes at a time when global discussions on semiconductor innovation and sustainability are underway. The G7 Semiconductors Point of Contact group is initiating dialogues to address issues affecting the industry. This includes support for early-stage innovation, which is crucial for maintaining the competitive edge and sustainability of the semiconductor sector.
The United Kingdom’s semiconductor industry, comprising over 200 entities in research, design, and manufacturing, is valued at approximately £10 billion. Analysts forecast growth potential up to £17 billion by 2030, highlighting the importance of these initiatives aimed at advancing technological capabilities and securing economic expansion.
Vallance’s backing of the new grant scheme marks a notable alignment with efforts to bolster the UK’s semiconductor industry.
