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
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.
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.
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.
I would be interested to learn what their proposition is, what can they bring to the party. Mind you I used to think we'd tried all the ways to arrange FETs and inductors untul Cuk came along. That is the fascination of analog design. Anyone know what they offer? The website is a little quiet...
You could probably fund a group of 4-8 designers and if they knew what they were doing, they could come up with a design. This would obviously be fabless. This sounds like they're trying to kick off an effort, not completely fund a company.
Maybe that's a better way to fund start ups: show me what you got, prove it and I'll advance more. In today's economy it makes sense and real ideas will come to fruition in new products soon after. But maybe it is also cautionary moves by Europe's VCs, in general.
That is the standard way VCs and startups work. It just seems that in the U.S. the startups are good at getting twice as much using the argument that it is better to find out if the idea is a good one or a bad one quickly.