Government to provide £50m for Compound Semiconductor Catapult

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The Government is to provide £50million to establish the Compound Semiconductor Applications Catapult and to fund it until 2021. The Catapult will be based in Wales, but its location has yet to be confirmed.

Universities and Science Minister, Jo Johnson, pictured, said: “The Compound Semiconductor Applications Catapult recognises Wales’ reputation as a leader in advanced electronics. Bringing together academics and businesses to develop new technologies will support areas of our daily lives from the next generation 5G mobile network to improving scanning at airport security.

“Our investment in this technology will help UK businesses exploit a global market estimated to be worth up to £125billion by 2020, creating jobs and cementing the UK’s position as the best place in Europe to innovate.”

The announcement follows Chancellor George Osborne’s commitment in the latest spending review to increase funding for Catapults as a key part of economic growth in Britain.

Nine other Catapults centres are running, with total public and private investment exceeding £1.6bn during their first five years of operation.

Innovate UK’s chief executive Ruth McKernan added: “Innovate UK is committed through its five point plan to developing the Catapult centres as national networks for innovation. These provide businesses with access to critical assets, research and expertise. Compound semiconductors is an area of UK strength and this new Catapult will reinforce our strong position in this important and growing technology. This is excellent news.”