20 June 2019
Support will be available for businesses delivering quantum-enabled products
The UK government has announced that it will invest £153 million through the Industrial Strategy Challenge Fund's (ISCF) new commercialising quantum technologies challenge.
The funding will support businesses delivering quantum-enabled products and help remove technological barriers to productivity and competitiveness in the UK.
UK Research and Innovation will deliver the programme by investing in four key areas, designed to support all aspects of the UK's quantum industry growth:
- product and service innovations - a series of collaborative research and development competitions to deliver game-changing quantum-enabled products and services
- industry-led technology development projects - a programme of industry-managed research activities addressing specific challenges
- supply chain - feasibility projects focused on innovative components and supply chain elements across the quantum sector
- investment accelerator - encouraging venture capital for early-stage, spin-out and start-up quantum technologies companies
This funding, alongside £205 million from industry, will support the commercialisation of technologies that have the potential to revolutionise a range of industries – from cyber security to defence and healthcare.