Funds

$300 million of CHIPS Act R&D funds is officially up for grabs as U.S Department of Commerce opens applications for packaging technology


The U.S. Department of Commerce is now accepting applications for up to three awards of $100 million each in R&D funding for packaging technology. This marks the third funding opportunity from the CHIPS Act and the first from the R&D part of the CHIPS Act, which according to a press release, has an allocation of $11 billion. According to current plans, the awards totaling up to $300 million are expected to be given out in July.

The CHIPS Act has a total budget of $52 billion, most of which is going towards subsidies for companies such as Intel, but $11 billion of those funds are earmarked for R&D. Per a funding opportunity notice from the Commerce Department, up to $300 million of R&D funds will be awarded to at most three companies, with each award being worth $100 million. Technically, not all three awards have to be given out, though it would be a little surprising if only one or two awards were made.



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