The billion-dollar quantum gold rush
Market size: US$88.1 billion in 2019 growing at a CAGR of 29.1% during the forecast period of 2019 – 2026.
Private investors had funded at least 52 quantum-technology companies globally since 2012, many of them are from university departments.
- IBM, at its Think 2019 Summit held at Taipei, indicated that commercial quantum computers will be available in the next 3-5 years.
- In January 2019, IBM unveiled the first commercial quantum computer, called Q System One, which allows the usage of high processing power on the cloud.
- In October 2019, Google claimed quantum supremacy by unveiling its quantum computer, Sycamore, which optimizes the processing time of computer programmes.
- IQM Finland Oy (IQM), a European startup that makes hardware for quantum computers, has raised over €32M from EIC Accelerator, Business Finland government agency and others.
- National Quantum Initiative Act, passed in December 2018, describes itself as “An Act to provide for a coordinated Federal program to accelerate quantum research and development for the economic and national security of the United States.”
- The Act infused $1.2 billion into the U.S. federal government’s existing quantum programmes to accelerate research in quantum tech.
- Damo Academy, Alibaba’s R&D wing, is already working on quantum processors and quantum algorithms, presumably to build a quantum computer.
- Indian Institute of Science’s Initiative on Quantum Technology (IQT@IISc), have quantum programmes funded by MeitY via CoE in Quantum Technology and Institute of Excellence funds.
- In 2017, a programme called Quantum-Enabled Science & Technology (Qu-EST) was started by the Department of Science and Technology to facilitate research in the field of quantum computing.
- Budget 2020 announces Rs 8000 cr on National Mission on Quantum Technologies & Applications
- Investments of more than $1 billion in the past decade.
- Quantonation fund (for Quantum tech) aims to raise a total of €40 million to support start-ups.
- Government announced £153 million investment into efforts dedicated to commercializing quantum computing.
- UK’s National Quantum Technologies Programme passed £1 billion in investments since its inception in 2014.
- Announced to invest US$40 million in quantum computing