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Business

Canada Commits C$120 Million to Bolster National Chip Network and Semiconductor Sector

Canada is set to invest C$120 million ($88.2 million) over the next five years to establish a national chip network, responding to growing demands for increased support of its underdeveloped semiconductor sector. Industry Minister François-Philippe Champagne revealed that this investment will come from the federal Strategic Innovation Fund.

READ: “Unleash the Cuteness: How to Livestream the Adorable Furry Extravaganza of the National Dog Show 2023 – Cord-Cutters’ Ultimate Guide!”

Canada Commits

The funding will support a C$220 million initiative spearheaded by the nonprofit research accelerator CMC Microsystems, aimed at aiding Canadian startups in bringing new technologies to market. The initiative, named Fabrication of Integrated Components for the Internet’s Edge (Fabric) network, will subsidize prototype production and provide participants with more affordable access to essential tools, software, and training. The Logic first reported on this development. Additionally, Fabric will offer up to C$10 million in funding for hardware development in areas such as semiconductors, superconductors, smart sensors, and photonics.

“Support for Fabric secures Canada’s future in semiconductors and advanced manufacturing,” stated CMC President Gordon Harling.

This new funding builds on an earlier announcement in April of a joint C$187 million investment by IBM, along with the governments of Canada and Quebec, to enhance IBM Canada’s chip packaging facility in Bromont, approximately 50 miles east of Montreal.

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