Penang has established Penang Chip Design Academy, an initiative to bolster its Integrated Circuit design and digital sectors to support the state’s plan to develop an IC Design and Digital Park.
It will “cement the state’s ambition to become a preferred investment destination for design and digital businesses and entrepreneurs,” InvestPenang said. “Plans are being finalised for opportunities for private-public funding mechanism,“ InvestPenang said in the statement., the global IC design service market was valued at US$48.97 billion in 2023 and is expected to reach US$84.16 billion by 2030, with a compound annual growth rate of 3.92%.
The state currently houses 18 of 20 semiconductor IC design companies in the country, including the three local IC design champions SkyeChip, Oppstar Technology and Infinecs Systems.
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