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EU Backs Chip Startups
The European Union plans to invest €525 million ($590 million) to support startups in the chip sector and accelerate their growth, in an effort to catch up with the United States and China. Of that total, €440 million will be awarded to companies to cover the costs of developing chips for commercial use, while €85 million will go to a European chip-design platform. The platform provides design tools, technical support, intellectual property components and manufacturing capabilities, at a time when European chip-design companies account for less than 1% of the sector’s global revenue.
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