Obama gave the solar panel company Solyndra something like $535 Million, that is some real money. If you were referring to that, then your off by x1000. That is as big or bigger than what the Chinese are doing for individual companies, certainly seems like that should have been enough to get a business going.
Not sure why giving this piddly amount of money is even worth an article, unless there is an order of magnitude larger follow-on investment planned.
The amount landed by the Bank means that the LEDs are getting accepted more and more, at many different levels, in this case the banks has provided funding for a driver IC that is too good for technological development.
In Europe many people think $1.1 million for a technology investment is a LOT of money.
Typically VC investments in European companies are smaller than those in U.S. companies at the same stage of development by a factor of 2 or more.
I often think these amounts will barely pay for business cards and office furniture, let alone serious engineering. So how will Ikon get a digital chip out the door on this money?
Well maybe they will get more money.
The founders are experienced with backgrounds at Parthus Technologies, so maybe they have a lot of their own money to pay for masks and wafer runs.
That is no money. It is like the one the company that just filed bankrupt Syltronics that makes solar panel received from Obama admin. They got $536K. This is no money. Govts should put money in ee companies even as the Chinese are doing