NXP Semiconductors gets GBP2 million in government funding to boost power development GaN devices
The funding, which comes from the government’s Regional Growth Fund (RGF), will support a private sector investment of over £7.5 million. This investment safeguards over 400 existing jobs, creates up to 100 new positions in Stockport and firmly establishes the UK as a global research hub for NXP.
NXP Semiconductors UK successfully bid for funding to develop its next generation of power semiconductors using GaN.
The funding has been awarded as part of the third round of the Regional Growth Fund and will be used to recruit extra research and development staff, make prototype models, consult the UK’s leading academics and provide equipment for the development phase. It will support NXP’s investment to create a leading centre for power semiconductors in its Manchester facility, as well as local businesses and suppliers.
The government’s Regional Growth Fund (RGF) is a £2.6 billion fund operating across England from 2011 to 2016. It supports projects and programmes that lever private sector investment to create economic growth and sustainable employment. The first three rounds will generate over £13 billion of private sector investment and create or safeguard over 500,000 jobs. The fourth round of RGF will make a further £350 million available in the pot and bidding has now closed.
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