1 trillion market and the role of Greece

Greece and the local ecosystem are setting a very ambitious goal innovation: To get a place on the European map – and why not on the world map – SemiconductorsMoving from circuit design to experimental production lines chip. With the strength of 25 Greek companies and startups currently active in the microchip market, which aims to double their number, Greece is not looking at this goal with prisms, but is demanding the role of a regional player on a pan-European level. In the microchip market, which is considered the “backbone” of the digital economy.

A market that rose in 2022 to $600 billion, while estimates indicate that by the end of the current decade it will exceed the astronomical amount of one trillion dollars. The semiconductor field in Greece is not virgin, as the country has a critical mass of high-tech companies, started in Greece and some of which have been brought under the umbrella of global giants, they are the forefront of this national effort.

According to market players, the design sector is the sector that Greek companies in this sector should focus on, with packaging and testing as investment priorities.

The Greek government has also recognized the importance of microchips, which are found in almost every technological device and are also a key component in the automotive industry. As the Secretary General of Industry pointed out yesterday, Themis EvticidoThe Ministry of Development has prioritized the semiconductor industry, with the aim of developing a draft business plan during the first quarter of 2024.

“In this way, we will identify the points where we are strong, as well as those where we are lagging behind, so that we can choose the appropriate actions that will take us where we want to be. We have strategic planning and national action plans,” she commented.

Double the companies

The country’s strategy regarding the microcircuits and partnerships that must be developed for Greece to play a major role in the European tech space was the focus of the Hellenic Technology Startups Association (HETiA) Forum, which took place yesterday. During the forum, President Hetia spoke, Emmanuel Zervakisputting an end to the doubling of companies dealing with the ecosystem in Greece in the next 25 years from today.

“The goal is to make 50 cars, from circuit design to experimental lines. He stressed that for this to happen, we must take advantage of human resources and cooperate with universities to produce the talent that we lack.”

At the current stage, the union includes more than 80 members, from companies that produce high technology and expertise, employs more than 3,000 engineers, and has a sales volume of more than 350 million euros.

Golden opportunity for Greece

For his part, he pointed out that “the development of the semiconductor industry represents an opportunity for Greece to move from the local market to the global market, but this is something that must be done within the next twelve months.” Kostas Mallioscorporate vice president of applied artificial intelligence and applied materials for the American giant, under whose umbrella the parent company Think Silicon has fallen since 2020.

It is no coincidence that Applied Materials, the world leader in materials technology for the production of almost all new chips, is making a huge $4 billion investment in semiconductor production in Santa Clara, USA, scheduled to be completed within three years. You believe that Greece is fertile ground for developing microchip design initiatives in our country.

“Such centers (including the Center for Applied Materials) could be developed elsewhere, for example in Athens,” said Mr. Mallios in this regard.

As he said yesterday, the semiconductor market is changing rapidly, the changes are global, there are now ongoing investments and this opportunity in Greece is huge, with European investments amounting to more than a trillion dollars. euros over the next five years. From the same conference room a year ago, describing the rapid growth of the semiconductor industry, Mr Mallios said emphatically: “Almost everything, even the chairs we sit on or the cups we drink our coffee out of in the future – perhaps – will contain chips.”

Greek role Start-ups

Greece, despite its exoticism, has momentum in the semiconductor ecosystem, with Greek startups already manufacturing microchips on behalf of international players like Xiaomi, Google, or Samsung.

Think Silicon, which was acquired by American Applied Materials in 2020, and Helic, which has been under the control of American company Ansys since 2019, are examples of Greek startups, writing their own history in the semiconductor market. Meanwhile, multinational Zepp Health, through its subsidiary Whale Microelectronics, is claiming a role in the European microchip market, and is headquartered in Athens.

Think Silicon, the company founded in Patras by Giorgos Sideropoulos and Iakovos Stamoulis, designs high-performance, low-power graphics processing units (GPUs) for mobile devices, such as smartwatches – and not only. It is a real case study, because it shows in practice how technology made in Greece and by Greek engineers can become the building block of the technological products that millions of consumers buy today in electronics stores around the world.

The potential of Greece to develop into an innovation gateway for the entire region in the chip industry is also confirmed by the decision made by the multinational Zepp Health, the world leader in the smart and sports watches market and listed on the New York Stock Exchange, to locate in the center of its research and development center in Athens, which From Greece, he will design microchips for his “smart” watches. The US-Chinese giant, in which Xiaomi has a 15% stake, will design the microchips in Athens, which are a key component of the smart and sports watches it distributes around the world.

What is Europe doing?

Greece could benefit more from the European Union’s ambitious plans to increase semiconductor production on the Old Continent, through the well-known chip law. Europe is investing €42 billion of public funds to invest in the semiconductor chain, with the aim of doubling its global market share from 10% to 20% by the end of 2030.

Through the Chip Act, the EU invited European companies to form alliances to research and invest in semiconductor design and manufacturing, with Greece getting a key opportunity to decide which part of the (European) supply chain it can take over.

“The chip law is a tool that must be used, and Greece is in a position to attract investments, and in this context there is also a relevant cooperation with HETiA. But it is important that there are incentives to attract such investments in this area. If we want to play a dominant role in In the field of semiconductors in our country, investments in new technologies should interest us in the coming period, as Greece combines stability and opportunities, but also human talent.” Development, Vicky Loizo.