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A new body-on-insulator (BOI) FinFET device structure based on bulk-Si substrate has been proposed and experimentally demonstrated in this paper. In comparison with other bulk FinFETs, the BOI FinFET features the localized insulator below the Si-Fin body, which can achieve both low source/drain (S/D) parasitic resistance and effective suppression of the S/D leakage beneath the Si-Fin channel, as well as good heat dissipation capability. The device fabrication process is basically compatible with conventional CMOS technology. High drive current, low subthreshold swing, and excellent short-channel behavior are observed in the fabricated BOI FinFETs.