Government pledges £50m for semiconductor innovation

The centre will bring together academics and businesses to develop technologies

The government has pledged £50 million for a new national innovation centre in Wales focused on compound semiconductors.

The new Compound Semiconductor Applications Catapult, funded by £10 million per year of government investment up to 2020, will bring together academics and businesses to develop technologies to support areas from 5G to improving scanning at airport security.

It is hoped the centre will help UK businesses exploit a global market which is expected to be worth up to £125 billion by 2020.

Chancellor George Osborne said: “Backing cutting edge science and innovation is at the heart of our long term plan to support Welsh people at every stage of their lives. That is why I am today announcing £50 million of new funding for a national semiconductor innovation centre, to bring together leading scientists and businesses to one hub in Wales.

“The investment we are announcing today will ensure that Wales continues to be a world leader in science and innovation, and create vital new jobs in the area.”

The catapult will be subject to relevant approval.