US Commerce Department opens applications for $300 million chip funding

ISTANBUL

The US Commerce Department announced Wednesday that it started receiving applications for $300 million in funding for semiconductor technology.

The applications are for research and development that will establish and accelerate domestic capacity for "advanced packaging substrates and substrate materials," a key technology for manufacturing semiconductors, it said in a statement.

"The CHIPS for America program anticipates approximately $300 million in funding innovation across multiple technologies ranging from semiconductor-based to glass and organics," it added.

The CHIPS and Science Act was signed into law by President Joe Biden in August 2022. It sets aside $52.7 billion to increase the production of US-made semiconductors, address supply chain vulnerabilities by producing more goods in the US and bolster domestic scientific research.

The Commerce Department said it is responsible for administering $11 billion to advance American leadership in semiconductor research and development.

The agency noted that it is overseeing $50 billion to revitalize the country’s semiconductor industry and strengthen its economic and national security.

"CHIPS for America is delivering on its vision to make sure new leading-edge chip architectures can be invented in our research labs, designed for every end-use application, manufactured at scale, and packaged with the most advanced technologies," Commerce Secretary Gina Raimondo said in the statement.

ISTANBUL

The US Commerce Department announced Wednesday that it started receiving applications for $300 million in funding for semiconductor technology.

"The CHIPS for America program anticipates approximately $300 million in funding innovation across multiple technologies ranging from semiconductor-based to glass and organics," it added.

The Commerce Department said it is responsible for administering $11 billion to advance American leadership in semiconductor research and development.

The agency noted that it is overseeing $50 billion to revitalize the country’s semiconductor industry and strengthen its economic and national security.