Critical areas of the global economy include semiconductors and telecommunications networks. Safeguarding and bolstering the long-term economic security and stability of the United States is contingent upon the nation’s capacity to stabilize and expand global semiconductor production, secure semiconductor supply chains, and create and deploy secure and trustworthy ICT networks and services.
The International Technology Security and Innovation Fund (“ITSI Fund”), established by the CHIPS Act of 2022, provides the Department with $500 million ($100 million per year for five years, beginning in FY2023) to address these objectives through new programs and initiatives with our allies and partners.
Semiconductors: U.S. leadership and robust international cooperation are essential for sustaining a stable and dependable semiconductor supply chain. No country, including the United States, is capable of producing or relocating the whole semiconductor supply chain. The United States must engage with partners and allies to guarantee that upstream and downstream components of the semiconductor supply chain are sufficiently diverse, robust, and secure in order to enable U.S. semiconductor production and global access to microchips.
Secure and Reliable Telecommunications Networks: Under the Digital Connectivity and Cybersecurity Partnership (DCCP), the U.S. government collaborates with international partners and allies to help countries enjoy the benefits of a thriving digital economy supported by secure and reliable ICT infrastructure and services. To advance these efforts, ITSI funding will support programs across three workstreams: working with countries to develop policy and regulatory frameworks that ensure security is a central criterion in ICT procurements; leveraging financing, investment de-risking, and other tools to catalyze private sector investments in secure ICT networks, including open and interoperable network architectures; and working to provide cybersecurity tools and services to improve cyber resilience.
The ITSI Fund offers vital resources to enable the United States to expand cooperation with allies and partners in order to ensure that the technologies of the future will strengthen our shared economic and national security.
Read more about ITSI Fund CHIPS Act projects: Department of State Allocating $100 Million for CHIPS Act Initiatives in Fiscal Year 2023 – United States Secretary of State