Flemish Government increases financial support of imec

LEUVEN (BELGIUM), Feb. 21, 2017 – Today, the world-leading research and innovation hub in nanoelectronics and digital technology imec, and the Flemish Government announced a new, 5-year strategic commitment that aims at strengthening the pioneering role of Flanders’ renowned research hub. Imec’s annual grant has been raised to 108 million euro with extra money being invested in imec’s longer-term strategic research to consolidate its global position in advanced semiconductor R&D and digital technology and their application domains in smart health, smart cities, smart mobility, sustainable energy and Industry 4.0.

Following the merger of imec and the Flemish research institute in software and ICT, iMinds in 2016, Flanders has a world-class innovation hub in the domains of nanoelectronics and digital technology, collaborating with industry leaders and universities and research centers worldwide. Imec attracts talented scientists from around the world and has distributed research teams at the five Flemish universities. The center’s innovation capacity culminates in over 120 European patent applications on a yearly basis.

“Technological innovation is a global effort. Our strategy has always been to act globally and bring ecosystems of top players together to build on each other strengths. Only this allows to create innovation that matters in a sustainable way, and to create impact on a local and global scale,” said Luc Van den hove, CEO of imec. “Building sufficient critical mass and operating on an international scale are must-haves to generate local impact. We have succeeded, for instance, in convincing a number of international leaders in the microchip industry to invest in Flanders, such as ASML and JSR. These partnerships have led to the creation of more than 6,000 Flemish jobs and allow us to top up the 15% subsidies from the Flemish Government with revenues generated by our own research.”

“In the new strategic agreement with imec, we fully recognize the relevance of its international leadership. Yet, the annual grant of 108 million euro also includes additional resources for supporting local innovation,” added Philippe Muyters, Flemish Minister for Economy and Innovation. “Flemish companies can turn to imec for integrated solutions that capitalize on the latest hardware and software developments. This is a crucial element in their quest for technology that can immediately be incorporated in their products – earning them a quick competitive advantage.”

Luc Van den hove concluded: “We truly appreciate the Flemish Government providing us with the resources to step up our long-term strategic research and to further support companies in Flanders and worldwide with the development of technological solutions applicable to their products and services, offering our hardware and software solutions throughout the entire lifecycle of the innovations process.”