Semiconductor company Weebit Nano (WBT) has appointed Jackson Lam as Vice President Strategic Alliances, China, in an advisory capacity. Lam will be responsible for developing Weebit’s partnerships in China, including customers, potential industry partners and investors.
Lam brings almost 40 years’ experience in the Chinese semiconductor industry to the role, including 15 years with Panasonic in business development.
He also established an R&D and manufacturing company providing services for many well-known international semiconductor companies. In the past 12 years, Lam has focused on helping Israeli companies set-up and expand their business in China.
Weebit is at the forefront of developing the next generation of memory technology with its silicon oxide ReRAM technology significantly cheaper, faster, more reliable and more energy efficient than existing Flash technology.
China offers significant opportunities for semiconductor providers with the industry growing at a faster rate than the rest of the world. Revenues are expected to reach nearly US$129 billion by 2020 – nearly a third of global revenue. In addition, the Chinese government has recently allocated a 300B Yuan (US$47.4 billion) fund for the development of China’s semiconductor industry. This latest fund by the government-backed China Integrated Circuit Industry Investment Fund follows a similar initiative launched in 2014 that raised US$21.8 billion. Among other efforts, the fund will be used to improve China’s ability to design and manufacture advanced microprocessors and graphic-processing units.
Weebit Nano CEO Coby Hanoch said the Chinese market is important to the strategic plans of semiconductor companies and represents huge potential for Weebit Nano.
Jackson has a very deep understanding of the dynamics of this market. His broad experience in helping Israeli companies grow in the Chinese industry and connecting them to local investors, is extremely valuable to us.”
Lam said Weebit’s ReRAM technology has potential to appeal to Chinese investors and companies.
“I am very excited to join the Weebit Nano team. Weebit Nano has made rapid progress in developing its ReRAM technology, which I believe has significant potential in China to be of interest to a large number of parties. There are many companies and investors looking for good strategic investment opportunities in the semiconductor space, and now is the right time for Weebit Nano to enter this market.”