UK announces £1 billion domestic semiconductor investment plan, focusing on research and design

May 19th, the British Department of Science, Innovation and Technology (DSIT) announced on May 18th that the British government will invest 1 billion pounds in the next ten years to strengthen the domestic semiconductor industry and supply chain.

The British government will initially invest 200 million pounds from 2023 to 2025, increasing the scale to 1 billion pounds in the next ten years. DSIT said the strategy focused on the UK’s role in designing semiconductors.

British Prime Minister Sunak pointed out in a statement: “Our new strategy focuses on our strengths, such as research and design areas. This way we can build a competitive advantage on the global stage.”