Government scheme to boost UK chip startups with £10m funding injection

The UK government’s ChipStart program has enabled semiconductor start-ups to secure over £10 million in private investment and grants, with almost £20 million in total commitments.

This initiative promotes innovation in various areas, from AI efficiency to advanced healthcare technologies.

Eleven semiconductor start-ups have joined the second cohort of ChipStart, a program launched in October 2023 with £1.3 million in funding to nurture new chip designers and attract substantial investment. The program supports start-ups by providing access to commercial design opportunities, mentorship and exposure to private capital, with the aim of transforming cutting-edge research into market-ready products.

Among the new participants is POM Health, which is developing a wearable patch for continuous hormone monitoring to improve fertility treatments. HeronIC has also joined and is marketing a software design tool that creates custom chips for AI applications, improving energy efficiency and performance.

Patrick Vallance, Minister for Science, said: “Innovation in semiconductors can drive progress across multiple sectors. ChipStart’s support is crucial to turning UK research into commercial success, tackling global challenges and driving economic growth.”

Following the success of its first cohort, which saw more than £10 million in funding and almost £20 million in commitments, ChipStart continues to propel early-stage semiconductor companies towards commercialization and growth. This round involves nine companies from UK universities, further strengthening the UK’s position in the global semiconductor supply chain.

Sean Redmond, Managing Partner of Silicon Catalyst UK, highlighted the impact of the programme: “ChipStart UK is transforming academic innovations into market-ready technologies. The new cohort builds on the achievements of the first group and positions them for global success.”

Participants from the first cohort, such as Vaire Computing and Wave Photonics, have already secured significant funding. Vaire Computing has raised $4.5 million to develop ultra-energy-efficient chips that can extend smartphone battery life by up to a month. Wave Photonics has secured £4.5 million for its photonic chips, which use light instead of electricity, allowing them to work faster and more energy efficiently.

Rodolfo Rosini, CEO of Vaire Computing, praised the program: “ChipStart’s networking capabilities and support have put 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 essential to deploying our technology in diverse applications, from biosensors to quantum computers.”

With continued support from ChipStart, the UK semiconductor industry is poised for significant growth, which will drive innovation and economic development.