Government budgets for quantum computing in 2022

By IQT News posted 11 Mar 2022

(AnalyticsInsight) Governments have started allocating million dollars budgets for investing in quantum computing for 2021-2025. Analytics Insights lists the top spenders.

China: The Government of China announced the funding of a multibillion-dollar quantum computing mega-project with the goal of making important quantum discoveries by 2030.

The United States of America: The US Government signed H.R. 6227, the National Quantum Initiative Act, into law in December 2018. (NQI); providing a five-year investment of US$1.2 billion in quantum information research.

France: The French government has announced a five-year €1.8 billion strategy to boost research in quantum technologies, particularly quantum computers, bringing public funding in the field from €60 million to €200 million per year, putting France in third place behind China and the United States in terms of quantum funding.

Japan: For the fiscal year beginning April 2020, Japan’s government allotted around 30 billion yen (US$276 million) for quantum research, doubling the previous year’s proposal.

South Korea: The new quantum computing research in South Korea will involve a five-year investment of KRW 44.5 billion (US$39.7 million) to create core quantum computing technologies and extend the research base. By 2023, the government hopes to have completed a demonstration of a realistic five-qubit quantum computer system with over 90% dependability thanks to the development of essential quantum computing technologies.

Germany: In the next four years, the Germany Government will spend around 2 billion euros (US$2.4 billion) to assist the development of its first quantum computer and related technology. Germany’s Science Ministry will spend 1.1 billion euros by 2025 to fund Quantum computing research and development, which harnesses quantum physics to provide a leap forward in processing.

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