An announcement was made earlier today by the Federal Government regarding an attempt to make Canada a global leader in the semiconductor industry.
Around $1.1 million in funding will be headed the way of the Accelovant Technologies Corporation, which aims to help the corporation meet the global need for semiconductors by enhancing their capacity to develop and export sensors needed for the industry, which will see them increase their staff, purchase new equipment, expand their facility and grow their business.
The funding in question will be provided via PacifiCan’s Jobs and Growth Fund.
Semiconductors, often called chips or microchips, are very critical to Canada’s national security and economy among other things since they get used every time Canadians drive a car, ride a plane or use a telephone.
Recent supply issues with the industry have had an impact on the economy and has affected the production of automobiles, consumer electronics and medical devices.
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