Canada invests a total of C$250 million in surging its semiconductor manufacturing.
The investment also covers chips research and bolster manufacturing.
Semiconductors are crucial to national security and technological advancement.
François–Philippe Champagne launched the C$150 million Semiconductor Challenge Callout fund.
Canada invests in the semiconductor industry
The minister of innovation, science and industry launched the C$150 million fund to develop and supply semiconductors.
Furthermore, C$90 million was allotted to the National Research Council of Canada’s Canadian Photonics Fabrication Centre.
Photonics is a significant part of telecommunication networks.
The minister said, “By investing in Canada’s semiconductor industry, we are making a firm commitment to businesses looking to invest in Canada.”
“Whether it’s high-value or large-scale manufacturing, we want to see Canada be home to the world’s leading semiconductor manufacturers.”
Shortage in the semiconductor industry
Semiconductors are used in everyday devices such as medical equipment to automobile parts.
Also known as microchips or chips, they witness a severe shortage due to Covid-19 supply-chain issues.
Various Industries face a semiconductor shortage due to soaring demands.
However, manufacturers seek well-grounded chip supplies to avoid disruptions.
As the pandemic takes over the globe, the shortage of semiconductors grows.
François–Philippe Champagne says the goal of the investment is to “strengthen Canada’s position in the industry.”
Furthermore, over 100 homegrown and multinational companies conduct research and development on microchips.