How the EU Chips Act Could Build “Innovation Capacity” in Europe

The European Commission wants Europe to boost its share of global semiconductor production to 20 percent by 2030, from 10 percent today. To that end, it is forwarding plans for more than €43 billion in public and private investment through a European Chips Act. To accomplish that increase in chip capacity, the legislation will approve appropriations for R&D, incentivize manufacturing, and take steps to make the supply chain more secure. Jo De Boeck, chief strategy officer and executive vice president at the Belgium-based nanoelectronics R&D center Imec, explained a proposed R&D…