The Hague has reserved €275 million of the education budget for the semiconductor industry for the Eindhoven region. Ministers Dirk Beljaarts of Economic Affairs and Eppo Bruins of Education wrote this yesterday in a letter to the Lower House. Of the total €450 million education budget available until 2030, most of the remaining amount will go to Delft, Twente, and Groningen. Students from these regions will also be educated for a career in the chip sector.
Why this is important:
The Brainport region will receive a €275 million financial injection from Operation Beethoven’s training budget. The region must now devise a plan outlining how it intends to use this money optimally. Besides that, key player ASML presented its quarterly earnings today.
The chip industry is a pillar of technological progress, and Brainport Eindhoven is on the eve of a major transformation. With €275 million in its pocket from Operation Beethoven’s training budget, the region is ready to take a leap forward.
The funds were awarded with a clear mandate: the Brainport region is tasked with developing a robust plan to utilize the funds. This necessitates a strategic approach, fostering a close collaboration between education, business, and government. The objective is unmistakable: to fortify the Netherlands’ position as a frontrunner in microchip technology.
Brainport’s plan will likely focus on creating specialized training programs and encouraging collaborations between companies and educational institutions. This model has worked successfully in other high-tech sectors and may be the blueprint for the chip industry.
ASML sees demand soar
ASML, the Dutch high-tech giant and leader in producing advanced lithography systems for the chip industry, is a key player in this development. The company is growing in need of specialized personnel to maintain and further expand its leading position. Operation Beethoven’s training budget will help fill this staffing need.
Today, the chip maker presented the second quarter figures for this year. Sales fell by more than 15% to €11.5 billion – slightly less than last year during this period. Sales declined, and profits also fell. The figures are no surprise; the company has long described 2024 as an “in-between year. And it is hopeful about the third and fourth quarters: the number of new orders rose sharply (55%). ASML owes that growth mainly to the rapid development of new AI applications, says top executive Christophe Fouquet.
Global challenges
The quarterly figures show that orders from China are by far the most important market for the Dutch company. Revenue from China came to just under €4.8 billion in Q1 and Q2 of 2024, more than doubling compared to Q1 and Q2 2023.
The chip industry is a battleground where global superpowers like the United States and China try to outdo each other. It is crucial for the Netherlands to maintain and build a strong position on this playing field. The funding from Operation Beethoven provides the Brainport region with the means to meet this challenge.
The Hague earlier—at the Americans’ urging —extended export restrictions on ASML. In addition to the most advanced EUV machines, the company is now barred from selling certain second-generation models to China. The United States fears that modern chip technology could make China too powerful militarily.
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