It all depends what you are trying to build...if you are trying to design a revolutionary new FPGA (like Tabula) you probably need $100M...but if this is a small and smart mixed-signal IC $1M could be sufficient, I know many examples first hand...getting $10M would get you started almost on anything, I am sure ARM started with less...Kris
I think you are right as usual Frank. I'm going to look for a better number.
But even so, the number is higher than $10 million and that is the limit of the fund. So it's certainly not going to get you all the way there. I believe that the conditions of getting funding require that the "sponsor" strategic investor match what the fund puts in. Still, startups that get funded will probably need other funding from different sources. Part of the effort is also trying to bring down the costs for startups. This may be only the beginning, but it's a start.
Bringing a new chip to market supposedly costs on the order of $100M, but this angel fund will limit their max investment in a single company to only $10M?
Actually, I think the $100M figure is highly overstated for most new chips -- especially for the types of chips a fabless startup is most likely developing.