TeraView showcased by UK in South Korea
The company joined other innovative semiconductor and artificial intelligence businesses whose technologies were showcased in a visit that has sparked significant interest among South Korean corporations.
The UK-APAC Tech Growth Programme arranged more than 40 meetings for the businesses with Korean companies including Hyundai Motor Group Korea, LG Electronics, Samsung Venture Investment and SK Telecom, as well as research institutes ETRI and KETI. The meetings took place as part of the UK Government’s Deep Tech Trade Mission to Seoul.
Follow up discussions are underway, seeking to progress commercial partnerships. Backed by the UK Government’s Department for Business & Trade, the UK-APAC Tech Growth Programme provides free and subsidised support to UK technology firms looking to enter one or more of 11 major markets in the APAC region.
As well as business matching meetings, companies were given an in-depth briefing on the semiconductor and AI markets in South Korea and the opportunity to present their propositions to an audience of corporations and government representatives.
A spin-out from the Toshiba Corporation and Cambridge University, TeraView has developed its proprietary technology across a number of markets.
These include fault analysis and quality assurance for semiconductor chips used in mobile computing and communications, as well as non-destructive inspection of high value coatings used in the automotive, pharmaceutical, food and solar industries.
Boasting the largest number of systems in the field, as well as applications know-how made available to customers via a team of dedicated scientists using intellectual property and knowledge in peer-reviewed scientific publications, TeraView believes it is uniquely placed to deliver the business benefits of terahertz to customers.
Specialists at Intralink, the international business consultancy delivering the UK-APAC Tech Growth Programme, says South Korea is a rapidly expanding market for UK tech scaleups.
Already the world’s second-largest chip producer, the country’s government has announced plans to establish the world’s biggest semiconductor supercluster in partnership with Samsung Electronics and SK Hynix.
Intralink has identified a particular opportunity for UK companies to support South Korea’s ‘upstream’ semiconductor ecosystem, which requires advanced technologies for raw materials and components such as silicon wafers, chemicals, gases and photomasks.
The country depends on international suppliers for these technologies and believes UK innovators are well-placed to provide them.
The AI market in South Korea is also experiencing rapid expansion, with annual growth of around 17 per cent. The government fuelled this growth with the launch of an AI Strategy Council last year and the injection of more than £400 million into AI projects across a range of sectors.
According to Intralink, the sectors there presenting the most significant opportunities for UK AI companies are:-
- Healthcare and biotech
- Manufacturing and robotics
- Cybersecurity and data protection
- Sustainability and ClimateTech
The UK-APAC Tech Growth Programme helps high-growth UK technology firms expand into the Asia Pacific region. It provides participating companies with access to free and subsidised market entry guidance, business development support and connections with potential partners and customers across 11 APAC markets: Japan, Taiwan, South Korea, Singapore, Vietnam, Malaysia, the Philippines, Thailand, Indonesia, Australia, and New Zealand.
UK firms interested in these markets can find out more about the Programme at: www.intralinkgroup.com/TGP