UK researchers are advancing the quantum technology industry by creating spin-out companies. The UK National Quantum Technologies Programme, established in 2015, aims to develop emerging technologies for wealth creation. Nine spin-out companies have been formed in partnership with the University of Oxford’s Quantum Computing & Simulation Hub. These businesses focus on building quantum computers, enhancing existing technologies like encryption or sensors, and unlocking potential within existing silicon computing hardware. Companies like ORCA Computing, Universal Quantum, and Quantum Motion have raised over £39 million in investment and employ over 100 people. ORCA is developing the world’s first quantum computing platform based on optical fibre.
UK’s Quantum Technology Development
The UK National Quantum Technologies Programme, established in 2015, aims to harness the potential of quantum science and develop emerging technologies. The programme is delivered by several UK research councils and laboratories, including the Engineering and Physical Sciences Research Council (EPSRC), Innovate UK, and Science and Technology Facilities Council (STFC). The global quantum computing market is projected to be worth US$10 billion within the next five years.
The programme is developing technologies in partnership with existing businesses, but many potential opportunities do not have an existing industrial base due to the revolutionary nature of the concepts and science involved. In these instances, the technology is being exploited via spin-out companies. Nine such companies associated with the University of Oxford’s Quantum Computing & Simulation Hub (QCS Hub) have already been formed.
These new businesses are focused on building quantum computers, using quantum technology to enhance existing silicon computing hardware, and improving existing needs such as encryption or sensors. Collectively, these businesses have raised over £39 million in investment and employ over 100 people in highly qualified, scientific technical roles in the UK.
Spin-out Companies and Their Contributions
One of the spin-out companies, ORCA Computing, was founded in 2019 to bring to market research from the NQIT Hub. The company is building the world’s first quantum computing platform based on optical fibre and uses telecommunications components for the first time. ORCA recently completed a US$15 million funding round that will support its plans to roll out near-term photonic quantum computing systems and software.
Another spin-out, Universal Quantum, was also founded in 2019 to commercialise EPSRC-funded research. The company’s researchers have achieved a milestone of successfully transporting qubits, the basic calculating units in a quantum computer, from one quantum computing microchip module to another with unprecedented speed and precision. In 2022, Universal Quantum received an order of €67 million from the German Aerospace Centre to build two quantum computers.
Quantum Motion, another spin-out, is developing a technology platform that includes a scalable array of qubits based on the silicon technology already used in smartphones and computers. The company recently achieved equity funding of over £42 million from some of the world’s leading quantum and technology investors, including the Sony Innovation Fund.
Quantum Computing and Its Potential
Quantum computing has the potential to unlock untapped potential within existing silicon computing hardware and quantum-enabled services. It can significantly enhance existing needs such as in encryption or sensors. The ability to conduct quantum computing cheaply and reliably is key to enable progress in other technologies such as AI, which is increasingly a major consumer of energy with its undesirable environmental impacts.
The approach to quantum computing in the UK is unique, created by necessity given the country’s relatively smaller investment abilities. However, this approach is likely to lead the world in the next few years. The UK is now at a critical point where it could establish a significant homegrown industry.
The Impact of Quantum Computing on the Economy
The fast-growing quantum computing businesses have raised over £39 million in investment and employ over 100 people in highly qualified, cutting-edge scientific technical roles in the UK. They are turning world-leading quantum science into a large and vibrant new market full of opportunities for high-tech UK businesses.
As a research and manufacturing company, ORCA also supports a large, high tech supply chain, which supports further high skilled jobs and research and development investment throughout the supply chain. The company’s quick success was recognised with the Institute of Physics start-up of the year award 2020.
The Future of Quantum Computing
The spin-out companies that have emerged within a few short years have contributed to the beginnings of a unique, high-tech, high value adding, cutting-edge industry within the UK. They are good enough to rival and possibly lead the world in the application of quantum computing. The future of quantum computing looks promising, with the potential to revolutionise various fields such as chemistry, medicine, and artificial intelligence.
“Without the well thought-through national programme and the NQIT managed funding in particular, ORCA Computing and our unique approach to enable quantum computing on a shoestring using photonics techniques would not exist. The ability to conduct quantum computing cheaply and reliably is key to enable progress in other technologies such as AI, which is increasingly a major consumer of energy with its undesirable environmental impacts. The approach is unique to the UK, created by necessity given our relatively smaller investment abilities, but one which is likely to lead the world in the next few years. It is thanks to the national programme drawing the key people and ideas together that the UK is now at a critical point where it really could lead the world and establish a significant homegrown industry.” – Richard Murphy, Co-founder and CEO of ORCA Computing.
Quick Summary
UK researchers are advancing the quantum technology industry by establishing numerous spin-out companies, with the aim of exploiting quantum potential and developing emerging technologies for wealth creation. These new businesses, which have raised over £39 million in investment and employ over 100 people, are focused on building quantum computers, enhancing existing technologies like encryption or sensors, and unlocking potential within existing silicon computing hardware.
- UK researchers are contributing to the development of the quantum technology industry by establishing numerous spin-out companies.
- The UK National Quantum Technologies Programme, established in 2015, aims to exploit the potential of quantum science and develop emerging technologies for wealth creation in the UK.
- Nine spin-out companies associated with the University of Oxford led Quantum Computing & Simulation Hub (QCS Hub) have been formed.
- These businesses focus on building quantum computers, using quantum technology to enhance existing silicon computing hardware, and improving areas such as encryption or sensors.
- ORCA Computing, a University of Oxford spin-out, is building the world’s first quantum computing platform based on optical fibre. The company recently completed a US$15 million funding round.
- Universal Quantum, another spin-out, has authored the first blueprint of how to build practical quantum computers with trapped ions. In 2022, the company received an order of €67 million from the German Aerospace Centre to build two quantum computers.
- Quantum Motion, a spin-out founded by Professor John Morton and Professor Simon Benjamin, is developing a scalable array of qubits based on silicon technology. The company recently achieved equity funding of over £42 million.
- These companies are contributing to the establishment of a high-tech, high value adding, cutting-edge industry within the UK.
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