The levels of investment in quantum technologies are changing rapidly all the time. In 2022, venture capital investments in quantum startups was more than $2.2 billion, dropping to just $1.2 billion in 2023 (the drop coming in part from the US, which saw large decreases in venture capital investment). In this volatile environment, we are seeing more and more government spending commitments. Globally over the next ten years, government funding commitments are significantly higher than venture capital investment ($4-5 billion yearly compared to the 2022 peak of $2.5 billion).
As a significant investor in quantum technologies, the UK government will have an important part to play in shaping this sector.
The Secretary of State for Science, Innovation and Technology, Peter Kyle has recently announced a swathe of investment in quantum research, based around 5 new ‘quantum hubs’ spanning technological areas and multiple regions of the UK. The project stands out not only for the variety of technologies being researched, but also the considerable financial backing the projects are receiving - £160 million, £54 million of which coming from industry partners. This continues the work of the UK National Quantum Technologies Programme (UKNQTP), which has overseen more than £1 billion of investment into quantum technologies over the last ten years.
According to the UKNQTP, “The UK is leading a global race to develop this new quantum era, forging its research strength into market opportunities through a co-ordinated and coherent National Quantum Technologies Programme”. As people who frequently work with both researchers and businesses, this work is particularly exciting.
So far, the UKNQTP has funded over 49 quantum start-ups, for example Cerca Magnetics, a spin-out company focusing on quantum-enabled scanners allowing measurement of brain-activity whilst a participant is moving. This could be particularly useful for researchers working with movement disorders like Parkinson’s disease.
The UKNPTQ has previously conducted this funding and research through quantum ‘hubs’, which were established in 4 hubs based around quantum computing and simulation, quantum communications, quantum technology sensors and timing, and quantum enhanced imaging.
The latest headlines promise five new quantum hubs, at least one of which, the UK Quantum Technology Hub in Sensing, Imaging and Timing (QuSIT) appears to be an amalgam of two previous hubs. Which begs the question, is this a new horizon for quantum research in the UK or merely a shiny rebrand for an incoming government?
At least some of the projects appear to be wholly new. As of now, the science secretary has promised the following five hubs:
- A UK Quantum Biomedical Sensing Research Hub (Q-BIOMED)
- A UK Quantum Technology Hub in Sensing, Imaging and Timing (QuSIT)
- An Integrated Quantum Networks (IQN) Quantum Technology Research Hub
- QCI3: A Hub for Quantum Computing via Integrated and Interconnected Implementations
- A UK Hub for Quantum Enabled Position, Navigation and Timing (QePNT)
Taking a sceptical view for a second, we can see that QC13 appears likely to continue some of the work of the previous Quantum Computing and Simulation Hub, QuSIT appears likely to continue the work of the previous Quantum Technology Sensors and Timing Hub and Quantum Enhanced Imaging hub, and IQN is likely to continue the work of the the previous Quantum Communications hub.
All this to say, QePNT and Q-BIOMED appear to be genuinely new projects.
The focus of QePNT aims to develop quantum technologies relating to national security and critical infrastructure. Technologies such as these are critical for aircraft navigation, especially in environments where typical navigation systems such as GPS may be disrupted. This type of long-term investment in national security is an exciting step from a government that has promised to put national security first.
The other hub, Q-BIOMED, has received funding not just from the Engineering and Physical Sciences Research Council (EPSRC), but also the Biotechnology and Biological Sciences Research Council (BBSRC), Medical Research Council (MRC) and National Institute for Health and Care Research (NIHR). This appears to show a widespread interest in the applications of quantum technologies in healthcare. According to the UK Research and Innovation, “Q-BIOMED aims to transform the future of early disease diagnosis by exploiting emerging advances in quantum sensors capable of detecting cells and molecules, potentially orders of magnitude more sensitively than traditional diagnostic tests.”
All in all, its clear that not all of the projects and funding that are developed will be ‘new’ projects, as the UKNQTP has been funding projects for over a decade. However, the new hubs, and new focus on healthcare and security are undoubtedly going to create new innovations and opportunities in the UK quantum sector. It’s an exciting time to work on quantum tech!
