The latest investment, which takes the total invested in quantum technology above £1 billion, is intended to secure the UK’s status as a world-leader in quantum science and technologies and will help the UK to keep pace with the likes of the US and China.
The government has confirmed a £153 million funding boost through the Industrial Strategy Challenge Fund and this is expected to be matched by over £200 million of investment from the private sector.
Of more interested is that for the first-time industry spending on quantum research and development, through the fund, will overtake government investment and suggests that business is becoming more confident in the commercial potential of this world-leading research.
Commenting the Science Minister Chris Skidmore said: “This milestone shows that quantum is no longer an experimental science for the UK. Investment by government and businesses is paying off, as we become one of the world’s leading nations for quantum science and technologies. Now industry is turning what was once a futuristic pipedream into life-changing products.”
Quantum technologies represent a new generation of high-performing devices.
UK Research and Innovation Chief Executive, Professor Sir Mark Walport, added: “The funding announced, builds on the great progress we have made and lays the foundations for a quantum technology industry here in the UK.”
It certainly has to be hoped that this investment will help to ensure that the UK remains at the forefront of what is an exciting and evolving field.
