UK Information Technology Investment in Quantum 2024 

The UK National Quantum Strategy, unveiled in 2023, outlines a 10-year plan to invest over $3 billion in the quantum computing space, doubling current public investment. The plan also lays out a scheme to generate over $1 billion of private investment that will further support the program.

In a show of further commitment to the emerging industry, in summer 2024, the UK Government poured an additional $135 million into five additional quantum hubs. The hubs range in their quantum applications with areas like cybersecurity, healthcare, and transport covered by the hubs. Although based at universities, the hubs will work closely alongside industry partners.

The quantum industry has been supported by the UK for over a decade by the National Quantum Technologies Programme (NQTP). During its time, this program has received over a $1 billion in funding, developing various quantum hubs and investigating quantum applications in communications, imaging, sensors, and more. With renewed investment under the UK National Quantum Strategy, the NQTP with build upon its decade of experience in developing a quantum-enabled economy in the UK.

While the scheme is interested in a variety of applications of quantum computing, there is a particular focus in the areas of:
•    Security
•    Pharmaceutical R&D
•    Healthcare
•    Navigation
•    Computing
•    Quantum Internet

This renewed investment presents potential opportunities for U.S. companies with expertise in quantum computing. U.S. companies have a worldwide reputation for innovative products, after-sales service and training which makes them competitive in the UK market.

To learn about possible opportunities, click here or contact Claudia.Columbo@trade.gov.