The UK's deep tech government funding landscape has been in disarray in recent months, with one government promising funding only to have it withdrawn by another in the space of less than a year.
While the UK government recently announced the provision of £100 million to support five “quantum centres”, there are concerns within the country’s quantum industry about the security of funding – and that increasingly risk-averse regulation could hamper international collaboration.
Phasecraft is a leader in quantum algorithms – computational methods designed specifically for quantum computers and their qubits. Its mission is to bring quantum computing into an era of practical application, despite the challenges still posed by today's error-prone NISQ-era quantum hardware.
Today the company published a white paper urging the government not to miss the opportunity to make the UK a world leader in quantum computing.
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“Historically, government support and funding for quantum technologies and quantum computing in particular has been absolutely critical,” Ashley Montanaro, co-founder and CEO of Phasecraft, told TNW.
He added that despite the £2.5 billion commitment under the National Quantum Strategy, it was clear that “a lot of government funding is needed” and that there had been cases in the area of artificial intelligence, for example, where government funding had been cut recently.
However, to maintain momentum and support the “high-yield but lucrative” nature of quantum research and development, continuous and predictable public funding is essential. (By 2035, quantum computing alone could be worth $1.3 trillion.)
“We think it's important to show that the UK in particular has a real opportunity to be a world leader in quantum technologies and become the home of the next 'quantum Microsoft' or 'quantum Nvidia,'” Montanaro said.
Geopolitical risks lead to strict regulation of quantum technology
Adding to the uncertainty that will plague the quantum community is the growing trend toward export controls on sensitive technologies, which could hamper the cooperation and collaboration that have enabled the sector to make critical breakthroughs in recent years.
“[Governments] “We are starting to become more and more concerned about the security implications of quantum,” Montanaro said. “While we think it's important to be vigilant about this, we also think it's critical not to stifle the technology with over-regulation and over-control.”
The UK, along with France, Spain and the Netherlands, has introduced export controls on quantum computing systems with more than 34 qubits. This attitude is reflected in other regulations around the world and stems from a desire to curb technologies that could be used for military purposes.
However, in order not to hinder innovation, regulations should focus on the use of quantum technologies rather than on the technology itself, argues Phasecraft.
Looking for talent in quantum technology on the other side of the Atlantic
The company sees further necessary support in finding ways to bridge the talent gap. In August 2024, there were over 37,000 vacancies in the UK quantum sector. Promoting cross-border and interdisciplinary collaboration would maximise the limited talent pool and accelerate innovation, argues Phasecraft.
Founded in 2019 by Montanaro, Toby Cubitt (the appropriateness of the name never ceases to amaze me), and John Morton, Phasecraft is a spin-off of University College London and the University of Bristol. It recently received a £1.2 million government grant to develop quantum algorithms for energy grid optimization problems. The company also recently opened offices in Washington, DC, where it will hire eight researchers within the year.
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