UK Recognised as World Leading For Creating Quantum Companies And Attracting Investment

Insider Brief

• The UK National Quantum Technologies Programme (NQTP) is marking its tenth anniversary at the UK National Quantum Technologies Showcase 2024.
• Over the past decade, with approximately £1 billion of public money put into the program.
• The UK is now one of the top two countries in the world for creating quantum companies and attracting investment.

PRESS RELEASE — The UK National Quantum Technologies Programme (NQTP) is marking its tenth anniversary at the UK National Quantum Technologies Showcase 2024 on 8th November in London.

Over the past decade, with approximately £1B of public money put into the programme, the scale of this new industry and the impact it is achieving has surpassed all expectations.

The UK is now one of the top two countries in the world for creating quantum companies and attracting investment. Quantum computing remains the big prize but quantum sensing, imaging and networking are also of importance. The companies funded by the Quantum Challenge in UKRI have gone on to raise almost £700M of private investment but the impact is more than economic. Not only is the new industry attracting investment and creating jobs for highly skilled people but it is also producing a portfolio of new products and services. For example networks secured using quantum technology, a quantum brain scanner, and a camera capable of seeing greenhouse gas emissions.

When the NQTP was launched in 2014, the UK already had a strong research base in quantum science, funded by the Engineering and Physical Sciences Research Council (EPSRC), Ministry of Defence and National Physical Laboratory and other government departments and agencies. The founding premise of the programme was that quantum science was at the point where the technology was now practical, and that a new quantum industry was on the cusp of appearing.

As well as reflecting on where and when it all started, the UK National Quantum Technologies Showcase will look forward to the next phase and the exciting future for quantum technologies. For example, earlier this year five new Quantum Research Hubs were announced by the Secretary of State for Science, Innovation and Technology Peter Kyle, supported by a further £160M investment. The ambition of these hubs is to ensure the UK benefits from the potential of quantum technologies, from healthcare and computing to national security and critical infrastructure. 

Roger McKinlay, Challenge Director, Quantum Technologies, Innovate UK, said: “The Showcase will perfectly illustrate the founding principle of the NQTP. We set out to create a quantum industry, not just quantum widgets. It is industries, not inventions, which change lives and we look forward to showcasing and celebrating these at what is set to be our biggest National Quantum Showcase to date in November.”

The Showcase will bring together industry professionals, businesses, academics, government representatives and investors, and demonstrate the innovations happening across the sector. It will have an international flavour because not only have other countries followed the UK lead and established their own quantum programmes, the UK is also attracting companies and investment from overseas.

The National Quantum Showcase 2024 is on track to be the biggest yet with 96 exhibitors confirmed and 2,000 registrations. The free event takes place from 9am-4pm on Friday 8 November at Business Design Centre London.

For more information on the agenda, speakers and full list of exhibitors, and to register to attend the showcase, visit https://iuk.ktn-uk.org/events/uk-national-quantum-technologies-showcase-2024/.