The quantum decade
The next decade could be pivotal for quantum computing, as (i) the process from quantum science & research to real-world applications is ongoing, and (ii) unprecedented access to both public and private funding gradually feeds companies in that industry.
French government lately announced a € 1.8B investment scheme in quantum technologies over the next five years, which backs this time a concrete tech and industrial strategy. Germany will allocate € 2B from its pandemic recovery fund to the quantum revolution. The EU relies on a long history of top-notch research in the field, and on numerous cross-border initiatives, such as the Quantum Flagship. The European action plans seem nevertheless to be dwarfed by the € 10B investments undertaken by China.
These investment strategies reveal not only that the quantum market is now on the political agenda, becoming eventually of strategic importance on the geopolitical exchequer, but also that these technologies are rapidly maturing and might become mainstream sooner than expected. In that area, startups innovation adds up to the commitments of leading multinational tech corporates.
The European startup landscape comprises mostly of direct spin-offs from research groups, operating through three different layers: (i) hardware and peripheral technologies such as cryogenics, (ii) software, operating systems, and programming languages, and (iii) applications targeting specific cases & industries. The UK, Germany, Finland lead the way in terms of VC funding levels. We encourage you to read an excellent post by @Alex Klitz for a more comprehensive view. Please see link below.
France is also very dynamic, with for example Pasqal, an expert quantum processing units builder, which was awarded € 7M from the European EIC accelerator program in December 2020.
The quantum computing market is closely monitored by our team at Odyssey, consistently with our focus on innovative or leapfrogging technologies and solutions. We expect tech and digital services giants to dramatically accelerate in quantum computing in the near-term, mainly through the nascent M&A market and smart strategic partnerships with startups.
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Link to Alex Klitz's article:
https://medium.com/uvc-partners-news/the-european-quantum-computing-startup-landscape-a115ffe84ad8