By IQT News posted 31 May 2021

(AnalyticsIndia) Governments across the world are pumping money into quantum computing. In this article, AnalyticsIndia looks at the top countries investing in this technology and provides budget numbers for each.

The US
In 2019, the US government started the National Quantum Initiative. National Institute of Standards and Technology (NIST), the National Science Foundation (NSF), and the Department of Energy (DOE) will develop quantum computing projects as part of this initiative. The government had committed $1.2 billion over five years to promote quantum computing. The Department of Energy had also announced an additional $80 million for quantum research.
In 2020, the White House Office of Science and Technology Policy and the National Science Foundation and the Department of Energy announced a fund of $1 billion to establish 12 AI and quantum information science research centers nationwide.

China
In 2016, the Chinese government introduced its 13th five-year-plan under which China launched a mega project for quantum computing and communication, including expansion of the national quantum communications infrastructure, development of general quantum computer prototype and practical quantum simulator. In 2017, during the Chinese Communist Party’s 19th National Congress, President Xi Jinping declared that China must emerge as a global leader in innovation by 2035. China is also building a National Laboratory of Quantum Information Sciences which has been given an initial funding of $1 billion.

Canada
Canada is slowly catching up as a frontrunner in quantum computing. In the last decade, Canada has invested more than $1 billion. Further, the country’s research expertise, growing public-private partnerships, and innovations are driving quantum computing development in the country.

The UK
The UK government has been making huge investments in innovations and development in the quantum computing field. In 2013, the UK became the first country in Europe to announce its own quantum strategy, investing €370 million for the first five years. In 2019, the government committed £153 million towards development of quantum technologies, bringing the total investment to £1 billion.

Germany
Germany is one of the leading countries in Europe in terms of quantum computing funding. In 2018, the German government allocated €650 million over a period of four years to build a quantum computing market. Recently, German chancellor Angela Merkel announced a funding of €2 billion innovation programme for quantum technology.

France
French president Emmanuel Macron recently laid out a national strategy–a five year plan worth €1.8 billion to finance research in quantum technologies, communication and sensing. The French government will invest €200 million annually over the next five years. President Macron said efforts are being made to join the ‘leading trio of quantum nation’, which includes the US and China.

Russia
In 2020, the Russian government announced a $790 million investment in developing practical quantum computing technologies. The government has plans to set up a new National Quantum Laboratory to adopt international best practices and resources of universities, research institutes, tech companies, and start-ups.

Japan
Japan will invest $270 million over 10 years in quantum computing tech. The country has also launched initiatives to advance research and development in quantum computing. As per a media report, Japan is looking to build full-fledged quantum computers for a broad range of applications by 2039.

South Korea
In 2019, the South Korean government announced an investment of $40 million to develop ICT proprietary technology including core quantum computing. The fund will be released over a period of five years.

India
India’s Finance Minister Nirmala Sitharaman during budget 2020 announced the government would allocate Rs 8,000 crore, over a period of five years, towards the National Mission on Quantum Technologies and Applications (NM-QTA).

Subscribe to Our Email Newsletter

Stay up-to-date on all the latest news from the Quantum Technology industry and receive information and offers from third party vendors.

  • Forthcoming Events

    • IQT Fall | November 1-5, 2021
      Online & In-Person New York City
    • IQT Spring | Dates Forthcoming 2022
      Online & In-Person San Diego
    • For additional information: info@3drholdings.com
0