Quantum computing is the focus of a £45 million ($57 million) investment by the UK government announced on February 5. The money is intended to find practical uses for quantum computing and create a “quantum-enabled economy” by 2033.
Government investment is allocated to prototypes and business accelerators
Of the total investment, £30 million ($38 million) is dedicated to the development and delivery of novel and advanced quantum computers. Some of this money goes toward creating controlled environments in which engineers and scientists can experiment. The remaining £15 million ($19 million) of the investment goes to the Quantum Catalyst Fund, which is awarded to public sector organizations with quantum computing projects aimed at solving practical problems such as optimizing public energy use.
In essence, the companies chosen for funding from the National Center for Quantum Computing will work on the development of quantum hardware. Meanwhile, the Quantum Catalyst Fund supports feasibility studies on how quantum technology can be used to improve public services.
Quantum Computing Testbed Contest Winners
The National Center for Quantum Computing announced that seven companies have advanced to the next round of competition in their development of quantum computing hardware prototypes:
- ORCA Computing.
- Oxford Ionics.
- Quanta cold UK.
- What was the United Kingdom?
- Rigetti.
- Aegiq.
- Quantum movement.
These organizations are testing different types of quantum computing platforms (including trapped ion, superconducting, photonics, and neutral atoms) to see which is most effective for particular types of problems. Each company studies different ways of working with qubits, the basic unit of information in quantum computing.
The seven chosen companies will then have access to an NQCC facility to deploy their platforms. Results are expected in March 2025.
Quantum Catalyst Fund aims to solve public sector problems
The Quantum Catalyst Fund is managed by Innovate UK (a division of the UK government's public sector research and innovation body, UKRI) and the Department of Science, Innovation and Technology.
The companies that received money from the Quantum Catalyst Fund are:
- Quantinuum (chemistry simulations).
- MoniRail (railway navigation).
- Cerca Magnetics (brain imaging for conditions such as epilepsy, concussion and dementia).
- Delta g (gravitational mapping).
- Q-CTRL UK (quantum optimized train timetables).
- Phasecraft (improving energy use on the public grid).
These six companies were chosen after a first phase of the competition that lasted three months. In phase 2, they will develop prototypes and demonstrate what their projects do.
“We are providing our world-leading companies and institutions with the necessary resources and tools to build a strong foundation in quantum computing with the potential to scale their activities for long-term competitive advantage,” said Kedar Pandya, chief program officer. between tips. at UKRI, in the press release. “This investment will help our researchers and innovators develop the blueprint for quantum computing hardware and software and secure the UK’s place in this developing field.”
SEE: Quantum computing could be a $6 billion business for Australia, leveraging US investment. (Technological Republic)
Finding practical uses for quantum computing
In addition to the £45 million investment in February, the UK dedicated £2.5 billion ($3.1 billion) in March 2023 to support the National Quantum Strategy. This strategy aims to develop quantum technologies over 10 years, starting in 2024.
Quantum technologies are one of five critical government technologies identified in the UK Science and Technology Framework as technologies with the potential to solve societal challenges, create well-paid jobs and boost the economy.
“Quantum technologies have the potential to address some of the biggest challenges facing society,” Will Drury, executive director of digital technologies at Innovate UK, said in the press release. “By unleashing computing power that goes far beyond existing digital technology, we can reach new frontiers in sensing, timing, imaging and communications.”
