EU to invest €525 million in chip design startups

The European Union will invest €525 million to help chip startups grow and strengthen Europe’s semiconductor industry.

The European Commission and EU member states will provide €440 million in grants, while €85 million will fund a European chip design platform.

The platform will give companies design tools, expert support and access to manufacturing capacity.

European chip design companies currently earn less than 1% of global revenue in the sector.

Strong demand for chips linked to artificial intelligence is growing, and the EU wants stronger design businesses to support manufacturing and help Europe catch up with the US and China.

Startups can apply for funding through the platform, with advanced startups eligible for grants of up to €16 million to help cover chip development costs.