Quantum commercialisation: A review of the UK funding landscape
The excellent techUK report, “Quantum commercialisation: Positioning the UK for success” is now two years old. Much has happened since its publication, not least the launch of the UK Quantum Strategy in March 2023 and the announcement of £2.5B to continue with the next ten-year phase of the UK’s National Quantum Technologies Programme.
In her Ministerial Foreword in the National Quantum Strategy, the Secretary of State, The Rt Hon Michelle Donelan MP, noted that the UK was already in a position of strength and, “…we are determined to build on these strengths with vision and long-term funding certainty.”
Work is now underway to define the definition of and plan the delivery of the five Quantum Missions announced by the government in December 2023.
We are clearly building on our strengths but what evidence do we have of past success? We have many metrics. The Quantum Challenge in Innovate UK has now funded 207 projects with £227M and in doing so supported 157 businesses. These businesses have in turn raised over £610M of private investment. The details mask the real success: an industrial sector has been established.
Now, we need to start thinking “sector” not just “technology.” It is right that we should enthuse and want to “leverage the UK's strengths across emerging technologies to push forward the application and commercialisation, highlighting best practice on industry and government collaboration that is enabling success.” The words are from techUK’s “Unleashing Innovation 2024: Call for contributions” and they are good words. Infant technologies – be they critical, emerging, deep or “quantum” – need the watchful eyes of our universities, government, trade associations, learned societies and professional institutions. They are critical component parts of the ecosystem.
The needs of established companies can seem rather dull in comparison. Of course, they still need skills, talent and friendly regulations. They also need money.
We, rightly, look upon the £610M of private investment raised by this emerging sector as a success but it also reflects an urgent need. What was needed over the past six years will be needed once again over the next three! That is what growth means. Bigger sectors need more funding.
This is not easy. There is a breakpoint here. Raising £50M is a vastly different beast from raising £5M. If the UK is to be the go-to place for quantum companies we need to create new mechanisms to ensure that the financial needs of our companies can be met. The story spreads wider than grant funding. Long-term patient capital is needed. If we get this right, we will see Innovate UK, the British Business Bank and British Patient Capital (to give some examples) working more closely and in innovative ways.
Most importantly, our companies are growing because they are finding new market opportunities as well growing existing ones. They will find the skills they need, the friendly business climate they need, the suppliers they need and the investment they need. If they cannot find what they need in the UK, they will go elsewhere.
Confidence is growing. Sentences which used to start “if quantum” now start “when quantum.” The question now is “where quantum?”
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techUK's latest sprint campaign is on Robotic & Automation technologies. Find out how to get involved by clicking here.
Running from September to November 2023, this campaign explored how the UK can lead on the development, application and commercialisation of space technologies, bring more non-space companies into the sector, and ultimately realise the benefits of the New Space Economy.
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Rory Daniels
Rory Daniels
Rory joined techUK in June 2023 after three years in the Civil Service on its Fast Stream leadership development programme.
During this time, Rory worked on the Government's response to Covid-19 (NHS Test & Trace), school funding strategy (Department for Education) and international climate and nature policy (Cabinet Office). He also tackled the social care crisis whilst on secondment to techUK's Health and Social Care programme in 2022.
Before this, Rory worked in the House of Commons and House of Lords alongside completing degrees in Political Economy and Global Politics.
Today, Rory leads techUK's emerging technologies activity across everything from immersive, web3, AI and robotics to space, gaming & metaverse.
This involves co-running techUK's flagship Innovation campaign, managing four series (including the 'Meet the Innovators' interview series), and launching 4-6-month 'sprint campaigns' on transformative technologies and sectors.
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- https://www.linkedin.com/in/rorydaniels28/
Running from January to May 2024, this sprint campaign explored how the UK can lead on the development, application and commercialisation of the technologies set to underpin the Gaming & Esports sector of the future.
These include AI, augmented / virtual / mixed / extended reality, haptics, cloud & edge computing, semiconductors, and advanced connectivity (5/6G).
Activity took the form of roundtables, panel discussions, networking sessions, Summits, and thought leadership pieces. A report featuring member case studies and policy recommendations was launched at The National Videogame Museum in November 2024.
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Rory Daniels
Rory Daniels
Rory joined techUK in June 2023 after three years in the Civil Service on its Fast Stream leadership development programme.
During this time, Rory worked on the Government's response to Covid-19 (NHS Test & Trace), school funding strategy (Department for Education) and international climate and nature policy (Cabinet Office). He also tackled the social care crisis whilst on secondment to techUK's Health and Social Care programme in 2022.
Before this, Rory worked in the House of Commons and House of Lords alongside completing degrees in Political Economy and Global Politics.
Today, Rory leads techUK's emerging technologies activity across everything from immersive, web3, AI and robotics to space, gaming & metaverse.
This involves co-running techUK's flagship Innovation campaign, managing four series (including the 'Meet the Innovators' interview series), and launching 4-6-month 'sprint campaigns' on transformative technologies and sectors.
- Email:
- [email protected]
- LinkedIn:
- https://www.linkedin.com/in/rorydaniels28/
Running from July to December 2024, this campaign explored how the UK can lead on the development, application and commercialisation of web3 and immersive technologies.
These include blockchain, smart contracts, digital assets, augmented / virtual / mixed / extended reality, spatial computing, haptics and holograms.
Activity took the form of roundtables, workshops, panel discussions, networking sessions, tech demos, Summits, thought leadership pieces, policy recommendations, and a report (to be launched in 2025).
Get in touch below to find out more about techUK's future plans in this space.
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Rory Daniels
Rory Daniels
Rory joined techUK in June 2023 after three years in the Civil Service on its Fast Stream leadership development programme.
During this time, Rory worked on the Government's response to Covid-19 (NHS Test & Trace), school funding strategy (Department for Education) and international climate and nature policy (Cabinet Office). He also tackled the social care crisis whilst on secondment to techUK's Health and Social Care programme in 2022.
Before this, Rory worked in the House of Commons and House of Lords alongside completing degrees in Political Economy and Global Politics.
Today, Rory leads techUK's emerging technologies activity across everything from immersive, web3, AI and robotics to space, gaming & metaverse.
This involves co-running techUK's flagship Innovation campaign, managing four series (including the 'Meet the Innovators' interview series), and launching 4-6-month 'sprint campaigns' on transformative technologies and sectors.
- Email:
- [email protected]
- LinkedIn:
- https://www.linkedin.com/in/rorydaniels28/
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Rory Daniels
Rory joined techUK in June 2023 after three years in the Civil Service on its Fast Stream leadership development programme.
Tess Buckley
A digital ethicist and musician, Tess holds a MA in AI and Philosophy, specialising in ableism in biotechnologies. Their professional journey includes working as an AI Ethics Analyst with a dataset on corporate digital responsibility, followed by supporting the development of a specialised model for sustainability disclosure requests. Currently at techUK as programme manager in digital ethics and AI safety, Tess focuses on demystifying and operationalising ethics through assurance mechanisms and standards. Their primary research interests encompass AI music systems, AI fluency, and technology created by and for differently abled individuals. Their overarching goal is to apply philosophical principles to make emerging technologies both explainable and ethical.
Laura Foster
Laura is techUK’s Associate Director for Technology and Innovation.
Sue Daley OBE
Sue leads techUK's Technology and Innovation work.
Elis Thomas
Elis joined techUK in December 2023 as a Programme Manager for Tech and Innovation, focusing on Semiconductors and Digital ID.
Usman Ikhlaq
Usman joined techUK in January 2024 as Programme Manager for Artificial Intelligence.
Harriet Allen
