The UK government has said quantum computing is one of its top tech priorities. Last year, it earmarked £2.5bn for a decade-long National Quantum Strategy. According to new Dealroom data, quantum computing was among the top-funded UK tech segments in the first quarter of 2024.
The sector is under the spotlight, but is government support to date enough to help the UK’s quantum computing sector thrive on a global scale?
Steve Brierley, CEO and founder at quantum error correction startup Riverlane, says the UK has the “perfect confluence of skills, relationships and early technological lead” in quantum computing, in part thanks to the government’s financial commitment to the sector.
However, he notes, it’s vital for the UK to make moves to maintain this early lead.
“Other countries are publishing equally ambitious quantum strategies,” Brierley tells UKTN. “France has set a goal to build two universal fault-tolerant quantum computers with 128 logical qubits [stores of quantum information] by 2030.
“Denmark, Australia, Germany and the US also have similar ambitions to the UK.”
Brierley says there is a clear need for collaboration across all Western allies, especially in light of China’s “single-minded approach” to quantum investment in a quest for global leadership.
“Building commercial quantum computers is too big a challenge for one country,” he adds. “We need to develop sovereign areas of expertise and then share this knowledge to help push quantum computing forward.”
This glob outlook is shared by James Palles-Dimmock, CEO of Quantum Motion, a startup making qubits out of silicon. Quantum Motion closed the largest-ever funding round for a UK quantum startup last year at £42m.
While Palles-Dimmock agrees the market for quantum computing startups in the UK is currently vibrant and expanding rapidly, he acknowledges it is also highly competitive and dynamic – a reflection of the global surge in interest and investment in quantum technologies.
“Globally, the UK is recognised as one of the leaders in quantum computing,” he tells UKTN. “However, when compared to regions like the US and China, the UK needs to continue attracting more international private investment to maintain its competitive edge.
“Places like the US still benefit from larger pools of domestic investment and a more extensive industrial base that can often translate into faster commercialisation of quantum technologies, so we simply can’t have a nationalistic approach.”
Education and partnerships are ‘pivotal’
So, how can this be achieved? While the UK government’s financial commitments have been important in advancing quantum computing in the UK to its current leading position, Palles-Dimmock believes there are two key areas where additional support could be a catalyst for significant growth, both domestically and internationally: education and international partnerships.
He says investing in university programmes to nurture a home-grown talent pool from the academic level through to post-doctoral and industry-specific applications would reduce the risk of a talent shortage, and ensure a sustainable growth trajectory for the sector.
“The government could [also] play a pivotal role in establishing bilateral agreements with other leading nations in quantum research to facilitate knowledge exchange and co-development projects,” adds Palles-Dimmock.
“We have seen a recent big success in the bilateral agreement that has been struck with Denmark. Better international relationships are crucial to maintain and grow our position in the world.”
Brierley agrees that partnerships could be the key to solidifying the UK’s leading position in the sector.
“If quantum computing startups must wait five years for bigger systems to emerge or government procurement processes to run their course, we won’t survive,” says Brierley.
“A successful public-private partnership model, which delivers economic, social and security returns, requires predictable government investment in early and subsequent generations of quantum technology.
“Without this, we can’t unlock private capital to step forward and invest at the post-Series A and B levels.”
A ‘go fast mindset’
The UK has established a strong foundation in quantum technologies, backed by academic prowess and long-term governmental support. This has fostered a positive environment for startups to innovate and grow.
“Are the UK government’s goals achievable? Yes, but it will require continued focused investment and a ‘go fast’ mindset,” says Brierley.
“The £2.5bn UK government investment is already committed as part of the next ten-year quantum strategy – that’s plenty if it’s invested wisely into the biggest opportunity areas, and gives companies the flexibility they need to innovate and learn in fast cycles.
“We have to see this money as an investment – not a handout – in a growth industry that can yield big returns for decades.”
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