TechUK offers chip plan to UK government
TechUK, a trade organization that represents more than 900 companies in the UK, has produced a five-point plan for the development of the country’s chip sector.
The trade body said the plan is being offered up to help the UK government build a strategy to ensure success of the technology industry through its forthcoming Semiconductor Strategy.
The five points include:
1 Changes to incentives around intellectual property
2 Spending tax payers’ money to encourage chip design, research into materials and construction of wafer fabs.
3 Partnering with allies to ensure access to chips and making a government minister or cabinet committee responsible for making sure UK firms are not exposed to supply shortages.
4 Opening up immigration and university access to ensure a sufficient flow of engineers for UK design and manufacturing.
5 Incentivising UK investment in technology start-ups and scale-ups. It references a report that asserts that the UK has ‘patient capital’ scale-up funding gap of about £15 billion annually.
Much of TechUK’s ‘A UK Plan for Chips’ was presented to the UK government in June 2022 in its submission to the House of Commons Business, Environment and Industrial Strategy Select Committee’s inquiry into the UK Semiconductor industry.
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