Canada to Invest C$240 Million to Develop Semiconductor Industry | Tech News

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(Reuters) – Canada will invest a total of 240 million Canadian dollars ($189 million) in its semiconductor industry to bolster manufacturing and research into chips critical to national security and technological advancement, it said on Monday. a federal minister.

François-Philippe Champagne, Minister of Innovation, Science and Industry, has launched a C$150 million fund for the Semiconductor Challenge Callout to develop and supply semiconductors. Another C$90 million has been allocated to the National Research Council of Canada’s Canadian Center for Photonic Device Manufacturing. Photonics is used in telecommunication networks.

“By investing in the Canadian semiconductor industry, we are making a strong commitment to companies looking to invest in Canada,” Champagne said in a statement. “Whether it’s high-value or large-scale manufacturing, we want Canada to be home to the world’s leading semiconductor manufacturers.”

Semiconductors, often referred to as chips or microchips, are used in a variety of everyday devices, including medical equipment and automotive parts. Several industries, from automakers to mobile phone companies, around the world have been hit by a shortage of semiconductors caused by COVID-19 supply chain disruptions as well as soaring demand for semiconductors in consumer electronics companies.

This has led manufacturers to seek reliable chip supplies to avoid disruption.

Champagne said the goal of the investment is to “strengthen Canada’s position in the industry.” Currently, the Canadian semiconductor industry includes more than 100 local and multinational companies conducting microchip research and development.

($1 = 1.2693 Canadian dollars)

(Reporting by Alexander Schummer in Toronto; editing by Jonathan Oatis)

Copyright 2022 Thomson Reuters.

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