ESCO welcomes the announcement by Chancellor of the Exchequer George Osborne that £50m of government support is to be provided to support the new Compound Semiconductor Applications Catapult, which will be based in Wales. Government funding is expected to be provided at the rate of £10m per annum up to 2020-21.

Compound semiconductors are at the heart of many devices we use today, from smart phones to tablets and satellite communication systems and are central to development of the 5G network, new high-efficiency lighting, power electronics for the next generation of electric vehicles and new imaging techniques for a variety of uses from security to health diagnostics.

The opportunity for the UK is huge as the global market for compound semiconductors is expected to be £125bn by 2020.

You can read more from InnovateUK here