£12m for quantum tech
The Hub News Team | 24.8.19
New quantum technologies could transform products and services in many business sectors including automotive, healthcare, infrastructure, telecommunications, cybersecurity and defence.
Quantum physics is at the heart of the electronics, media, computing and infrastructure systems we use in everyday life.
A second generation of quantum technologies based on new quantum effects could lead to more secure digital communication, improved construction and radical increases in computing power.
The UK government’s Industrial Strategy Challenge Fund (ISCF) Commercialising Quantum Technologies Challenge is a £153 million investment in projects that will help the UK to lead the world in development of these new technologies.
Innovate UK, as part of UK Research and Innovation, has up to £12 million from the fund to invest in innovative research and development projects in the field. It is seeking investors willing to partner it by helping to find suitable businesses, managing the grant allocation and investing their own private equity capital.
The aim is to improve access to financial and commercial support for SMEs developing innovative quantum technologies.
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