The new study “Quantum Technology Monitor 2024” from McKinsey points out that private investment dropped while public investment surged. In 2023, $1.71 billion was invested in quantum technology start-ups, which represents a 27 percent decrease from the all-time high of $2.35 billion in 2022.
In contrast to the private sector, public investments increased more than 50 percent over 2022, making up almost a third of all investments in quantum technology (QT). A range of countries, led by Germany, the United Kingdom, and South Korea, have announced significant new funding for quantum technology development, bringing the global public funding total to date to about $42 billion.
This report highlights also the steady demands for developing quantum technology – and even confirms, that scientists from EU institutions contribute most often to quantum-relevant publications.
In October 2023, the European Commission identified quantum computing as one of four critical technologies requiring further risk review, alongside artificial intelligence, biotech, and advanced chips. This leaves the door open for additional measures in the future.
Although the timeline for the review’s impact is uncertain, Europe cannot afford to delay.
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