Boost Controller:
A boost controller is a device to control the boost level produced in the intake manifold of a turbocharged or supercharged engine by affecting the air pressure delivered to the pneumatic and mechanical wastegate actuator. ...
Turbo Timer:
A turbo timer is a device designed to keep an automotive engine running for a pre-specified period of time in order to automatically execute the cool-down period required to prevent premature turbo wear and failure. ...
Chip
Basically the ECU (Engine Control Unit) in your car came from the factory with an air/fuel map
that decides how much fuel needs to be injected to mix with air coming into the engine at a
certain RPM and amount of load on the motor. The ECU also adjusts where the mixture is
ignited by the plugs, referred to as adjusting the "timing". What chip companies do, is alter this
map and allow the engine to produce more power. Why do manufacturers not do this?... well
they have to meet MPG standards dictated by the government etc and also don't want the engine
to work too hard for reliability sake. Most chips increase the rev limiter/boost and as a result
works the motor a little harder at the top end, where most HP is produced (typically).
15 seconds on google