£153 million Industrial Strategy Challenge Fund funding, alongside £205 million from industry, will support the commercialisation of quantum technologies.
New quantum technologies have the potential to revolutionise a range of industries – from cybersecurity to defence and healthcare.
But as an emerging technology, research and innovation in quantum technologies require continuing government support in order to maximise the industry’s potential in the UK.
Government has announced that it will invest £153 million through the Industrial Strategy Challenge Fund’s (ISCF) new commercialising quantum technologies challenge.
The funding will support businesses delivering quantum-enabled products and help remove technological barriers to productivity and competitiveness in the UK. It will be supported by £205 million from the industry.
The programme will be delivered by UK Research and Innovation, and lifts total UK investment or planned investment in the National Quantum Technologies Programme (NQTP) to over £1 billion.