Quantum Startup Funding of $25M+ Signals Strong Cluster Presence

Fredrik Erixon, Andrea Dugo, Dyuti Pandya, and Elena Sisto of the ECIPE Quantum Project have advanced understanding of the global quantum landscape through assessment of national investment, scientific output, and patent activity. This work culminated in the identification of geographically concentrated ecosystems—dubbed quantum clusters—where meaningful advances occur due to the capital-intensive infrastructure and scarce talent required for quantum research and development. These clusters are defined by minimum thresholds of startup funding—either two startups with USD 10 million or more combined, or one with USD 25 million or more—and the presence of at least five actively engaged institutions. Identifying these clusters provides a basis for targeted policy interventions to strengthen quantum competitiveness.

Defining Quantum Clusters and Quasi-Clusters

A quantum cluster is specifically defined as a geographically concentrated ecosystem needing to meet certain thresholds. To qualify, a cluster must host either at least two startups with USD 10 million or more in disclosed funding combined, or at least one startup reaching USD 25 million. Additionally, a quantum cluster requires a minimum of five institutions – encompassing research, industry, or government – actively engaged in quantum activities. These criteria establish a benchmark for identifying areas with significant, developing quantum capabilities.

In contrast to established quantum clusters, a quantum quasi-cluster represents an area where quantum activity is emerging but hasn’t yet reached critical mass. These regions demonstrate early potential, but typically lack sufficient institutional concentration and/or the substantial funding of established quantum startups. While showing promise, quasi-clusters don’t yet exhibit the density and breadth characteristic of fully developed, self-sustaining innovation hubs. The study identified 86 quasi-clusters globally, assessing their potential without detailed ranking.

This differentiation between clusters and quasi-clusters is important because performance is assessed across three dimensions: Market Orientation, Collaboration Intensity, and Ecosystem Maturity. Analyzing these dimensions helps tailor policy responses, as a cluster strong in research but weak in industry engagement needs a different strategy than one with strong funding but limited collaboration. This granular analysis reveals drivers of performance and highlights where interventions are most needed for sustained quantum growth.

Ranking Dimensions and Cluster Performance

This study introduces a structured ranking of 45 quantum clusters worldwide, assessed across three key dimensions: Market Orientation, Collaboration Intensity, and Ecosystem Maturity. Each dimension is built from three underlying indicators, allowing for a nuanced understanding of cluster strengths and weaknesses. The ranking isn’t about declaring supremacy, but rather showcasing high-performing regions and identifying gaps in capabilities—information vital for targeted policy interventions in investment, talent, and infrastructure.

The three dimensions used for ranking were chosen because different cluster characteristics demand different policy responses. For example, a cluster strong in research but weak in industry engagement requires a different strategy than one with robust funding but limited collaboration. Analyzing performance across each dimension—Market Orientation, Collaboration Intensity, and Ecosystem Maturity—reveals what drives success and where interventions are most crucial for fostering quantum innovation.

Cambridge (UK) leads the global ranking of quantum clusters, followed by Greater Helsinki (Finland), Oxford (UK), the San Francisco Bay Area (US), and Greater Glasgow (UK). These top five demonstrate the dominance of established academic and technology ecosystems in the UK and US. The ranking methodology also identified 86 quantum quasi-clusters, grouped by their potential to mature into full clusters, though these were not ranked in the same detail.

We assess cluster performance across three dimensions because different features demand different policy responses. A cluster excelling in research but weak in industry engagement requires a different strategy from one with strong funding but limited collaboration.

Global Quantum Cluster Landscape

The ECIPE Quantum Project identified 45 quantum clusters worldwide, recognizing these regions as most likely to shape the future global quantum landscape due to favorable conditions for innovation. A cluster qualifies as such by hosting either at least two startups with $10 million or more in disclosed funding combined, or at least one with $25 million or more, alongside a minimum of five actively engaged institutions (research, industry, or government). This structured ranking aims to showcase high-performing regions and reveal capability gaps, informing targeted policy interventions.

These quantum clusters were evaluated across three dimensions: Market Orientation, Collaboration Intensity, and Ecosystem Maturity. Each dimension comprised three underlying indicators, measuring things like investment scale, industry participation, collaboration volume, and institutional integration. Cambridge (UK) leads the global ranking, followed by Greater Helsinki (Finland), Oxford (UK), the San Francisco Bay Area (US), and Greater Glasgow (UK), highlighting the dominance of established academic and technology ecosystems primarily in the English-speaking world.

Beyond full clusters, the study also identified 86 quantum quasi-clusters—areas with emerging activity but lacking the critical mass for self-sustainment. These quasi-clusters show early potential but typically lack sufficient institutions or substantial startup funding. Analyzing performance across the three dimensions allows for tailored policy responses; a research-strong but commercially-weak cluster requires different strategies than one with strong funding but limited collaboration.

Quantum News

Quantum News

As the Official Quantum Dog (or hound) by role is to dig out the latest nuggets of quantum goodness. There is so much happening right now in the field of technology, whether AI or the march of robots. But Quantum occupies a special space. Quite literally a special space. A Hilbert space infact, haha! Here I try to provide some of the news that might be considered breaking news in the Quantum Computing space.

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