Date of Award

Spring 2024

Degree Name

Bachelor of Science (BS)

Advisor(s)

Evangelos Katsamakas

Abstract

The backbone of modern technology, the semiconductor is more relevant on a global scale than ever before. With governments, private companies, and financiers investing tremendous amounts of capital into all areas of the industry, the future of semiconductor innovation is having no issue finding its catalysts. Historically, smaller start-up firms have played an oversized role in ushering in new technologies (Intel, Qualcomm, Nvidia). We explore the unique components of semiconductor start-ups, their sources of funding, and the challenges they face through a comprehensive review of existing research, a hypothesized framework for the evaluation of semiconductor start-ups, and a System Dynamics model. In a deeply intertwined industry, the importance of strategic partners and access to necessary capital throughout a firm’s life-cycle are determinants of success for investors and founders alike. While a start-ups technology will remain a priority throughout its lifespan, the fluctuations a start-up experiences in its different stages must be addressed and overcome. In an industry that is constantly developing products that are multiple years out, success is a combination of speed, agility, and ambition. The various sources of funding available to semiconductor start-ups – VC, CVC, angels, etc. – have all seen success stories in the past and are looking for the next. As the world of opportunities for semiconductor start-ups continues to grow, for those brave enough to compete with the industry’s seasoned players, a tumultuous yet remarkable road awaits.

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