Big Tech

Canada Invests Millions to Build Chip Network as US Races Ahead

Funding to help startups commercialize new technologies
Some say Trudeau hasn’t done enough to compete globally

Francois-Philippe Champagne, Canada’s industry minister, during the International Economic Forum Of The Americas conference in Montreal in June.Photographer: Graham Hughes/Bloomberg

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By Mark Mann

July 4, 2024 at 5:35 PM UTC

This article is for subscribers only.

Canada will invest C$120 million ($88.2 million) over five years to build a national chip network, as calls intensify for the government to do more to bolster its lagging semiconductor sector.

Industry Minister François-Philippe Champagne announced the outlay from the federal Strategic Innovation Fund on Thursday. The investment supports a C$220 million project led by the nonprofit research accelerator CMC Microsystems to help Canadian startups commercialize new technologies.