2.5 billion pounds Britain is investing in a quantum Silicon Valley
Recently, a 10-year plan to invest £2.5 billion in quantum computing to keep the UK competitive in global quantum technology was announced by Finance Minister Jeremy Hunt in Wednesday's budget; it will more than double the funding currently available to industry and university researchers in the £1 billion National Quantum Technologies Programme.
Ultimately, the plan aims to turn the UK into the "next Silicon Valley.
The National Centre for Quantum Computing in Oxfordshire, which is nearing completion, will play a leading role in the expanded program. But the government aims to distribute support nationwide as part of a drive to create a "network of research centers of the future.
While the pledge to increase spending on quantum computing over 10 years will be welcomed by the industry, it will not bind a future Labor government if the opposition wins the next election.
Some London-based quantum investment firms are also optimistic.
For example, Steve Metcalfe, CEO of Quantum Exponential, said before the announcement, "We are very pleased to see the UK government's commitment to quantum."
Metcalfe then added, "To create a market, we need a joint approach between the government and the investment community, which includes areas such as pension funds, to ensure the necessary level of start-up investment - ultimately, the UK has a key role to play in the acceleration and commercialization of the industry."
Richard Murray, head of Orca Computing, which has already sold a quantum computer to the Ministry of Defense, said the government's proposal has "huge potential.
"The UK is a hotbed of quantum innovation and we now have a real opportunity to make a commercial breakthrough and develop quantum technology further into practical use, particularly in the area of computing where we are already very strong."
Computers operating on the principles of quantum mechanics could theoretically far surpass the ability of traditional machines to solve certain types of problems, such as searching huge databases and designing new materials. But their practical application faces daunting technical challenges, particularly in addressing how to correct the errors that plague experimental quantum devices.
The United States and China dominate the quantum field. Their governments and large technology companies, such as Google and IBM, are investing billions of dollars in quantum technology.
But the U.K. is far ahead of the rest of Europe in the number of quantum startups, according to a survey released last month by Sifted, a Financial Times-backed start-up publication. The U.K. boasts 39, compared with 18 in Germany and 15 each in the Netherlands and France.
This time, the new government plan aims to promote the development of local companies, while attracting quantum companies from overseas to the UK through investment support.
Another aspect of the quantum program will address the severe shortage of qualified workers, which has hindered the growth of the field on a global scale. The new training program will target scientists, engineers and technicians.
https://www-ft-com.ezp.lib.cam.ac.uk/content/900ba4ee-6c60-4406-963a-810771c2ad7c
