UK earmarks £70 million funding to push quantum technology

June 16, 2020 by The Quant

UK earmarks £70 million funding to push quantum technology

The UK has announced that it was support the quantum computing industry in the United Kingdom with 70 million in funding ranging over 38 projects. The Science Minister Amanda Solloway has today announced the projects which will help the UK be a leader in the Quantum Computing Revolution.

The £70 million government funding and investment is part of its Quantum Technologies Challenge, led by UK Research and Innovation (UKRI). British companies such as Phasecraft, Riverlane, QLM, Adaptix have all been awarded funds.

The UK is home to some of the world’s most advanced quantum technology companies tackling some of the most pressing challenges – from speeding up the diagnosis of cancerous tumours to detecting harmful gas leaks.
Amanda solloway, science minister

Mentioned Quantum Computing Companies

The Quant

The Quant possesses over two decades of experience in start-up ventures and financial arenas, brings a unique and insightful perspective to the quantum computing sector. This extensive background combines the agility and innovation typical of start-up environments with the rigor and analytical depth required in finance. Such a blend of skills is particularly valuable in understanding and navigating the complex, rapidly evolving landscape of quantum computing and quantum technology marketplaces. The quantum technology marketplace is burgeoning, with immense growth potential. This expansion is not just limited to the technology itself but extends to a wide array of applications in different industries, including finance, healthcare, logistics, and more.