Penang is establishing an academy to support chip design in the digital sector

GEORGE CITY: Penang has established the Penang Chip Design Academy, an initiative to strengthen the integrated circuit (IC) design and digital sectors in support of the state’s IC and digital design park development plan.

The academy is a key component of Penang’s science, technology, engineering and mathematics talent plan, which is scheduled to launch next month, Penang state investment agency InvestPenang said in a statement today.

“This will reinforce the state’s ambition to become the preferred investment destination for design and digital technology companies and entrepreneurs,” InvestPenang said.

Led by the Penang Skills Development Centre, in collaboration with key industry players, electronic design automation tool providers, academia and investPenang, the Academy focuses on end-to-end project development. It aims to develop talent in the chip design ecosystem by upskilling and reskilling through academic training and hands-on experience.

“Plans regarding the possibility of using a private-public financing mechanism are being finalized,” InvestPenang said in a statement.

According to Verified market reportThe global IC design services market was valued at US$48.97 billion (RM230.6 million) in 2023 and is expected to reach US$84.16 billion by 2030, at a compound annual growth rate of 3.92 %.

According to InvestPenang, Penang has secured approved services investments worth almost RM20 billion between 2019 and 2023, representing 9% of the state’s total approved investments during the period.

The state now hosts 18 of the nation’s 20 semiconductor chip design companies, including three local chip design champions: SkyeChip, Oppstar Technology and Infinecs Systems.

“With significant investment inflows into Penang, coupled with growing demand in the chip design and digital sectors, talent is increasingly recognized as one of the key differentiators in attracting investment as companies prioritize regions with a highly skilled and flexible workforce .

“Therefore, the ultimate goal of the academy is to prepare individuals to become industry-ready chip design engineers, underscoring the state’s commitment to advance the value chain and unlock opportunities for growth and prosperity in the digital era,” InvestPenang added. – Bernama