The U.S. Department of State has revealed plans to implement the International Technology Security and Innovation Fund to help ensure the expansion and security of the semiconductor supply chain and information and communications technology in compliance with the CHIPS and Science Act.
The department said Tuesday the CHIPS Act of 2022 authorizes $500 million over five years to implement new programs under the ITSI Fund.
The department will allocate $100 million in fiscal year 2023 funding for CHIPS Act ITSI Fund projects under the semiconductor and ICT sectors.
For the semiconductor area, ITSI funding will support initiatives aimed at securing critical material inputs, strengthening international policy coordination, expanding and diversifying downstream capacity in the Indo-Pacific and the Americas and protecting national security.
The State Department will also use ITSI funding to support the deployment of secure ICT infrastructure and defend ICT ecosystems against malicious cyber activities. Additionally, they intend to provide capacity-building training and technical consulting support to promote risk awareness and adoption of regulatory frameworks and policies in support of secure ICT ecosystems.
