The UK semiconductor industry stands at a critical juncture, necessitating bold governmental action to maintain its global competitiveness. This urgent call comes from techUK, highlighting the importance of accelerating the implementation of the National Semiconductor Strategy. The strategy aims to unlock investment, foster innovation, and strengthen the UK’s position in the critical semiconductor landscape.
Key points include:
– **Global Competitiveness**: The UK semiconductor industry has historically been a leader in design and intellectual property, particularly in areas like Cambridge, but faces significant challenges due to insufficient investment, skills shortages, and limited tailored support.
– **Industry Challenges**: Despite significant strengths, the sector faces high costs, limited access to private capital, and a reliance on international talent. Only 5% of funding for UK semiconductor startups originates domestically.
– **Strategic Recommendations**: TechUK proposes 27 recommendations across six key areas, including design and IP, R&D, manufacturing, skills, and global partnerships. Key strategies include leveraging existing capabilities, establishing a National Semiconductor Centre, expanding R&D tax credits, creating a Design Competence Centre, addressing skills shortages, and capitalizing on global partnerships.
– **International Context**: The global semiconductor market is projected to reach $1 trillion by 2030. To maintain its leadership, the UK must act swiftly, leveraging its recognized strengths and forging strategic partnerships with other nations.
– **Governmental Commitment**: The UK government should treat its semiconductor ambitions as an essential part of its broader Industrial Strategy, aiming to secure not only rapid growth but also sustainable economic resilience.
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