Canada will invest C$240 million ($189 million) into its semiconductor industry to bolster manufacturing and research of chips.
Francois–Philippe Champagne, minister of innovation, science and industry, has launched a C$150 million Semiconductor Challenge Callout fund to develop and supply  semiconductors. Canada has also allocated another C$90 million to the National Research Council of Canada’s Canadian Photonics Fabrication Centre. Photonics are used in telecom networks.

“By investing in Canada’s semiconductor industry, we are making a firm commitment to businesses looking to invest in Canada,” Champagne said in a statement. “Whether it’s high-value or large-scale manufacturing, we want to see Canada be home to the world’s leading semiconductor manufacturers.”

Champagne said the goal of this investment in local semiconductor industry is to strengthen Canada’s position in the industry. Currently, Canada’s semiconductor sector includes over 100 homegrown and multinational companies conducting research and development on microchips, Reuters news agency reported.