EU plan for quantum technology arrives, more funds and talents

Positioning Europe as a world leader in quantum technology, developing a true European quantum ecosystem and bridging the financing gap for a sector considered crucial for the EU's industrial competitiveness and technological sovereignty: the European Commission presents tomorrow the first Strategy on Quantum Technology, the next big innovation that can perform calculations beyond the reach of classical computers.

There are several potential applications of quantum computing, from cryptography used to protect communications and ensure privacy, to artificial intelligence. With the strategy on quantum technology, Brussels aims to address the critical issues highlighted in the Draghi report, first and foremost private investments, limited in the sector compared to other economic powers such as the United States and China; as well as the limited capacity to convert research into technologies for the market.

The Commission then aims to systematize the strengths of the Old Continent, such as skills and research capabilities.

According to the Draghi report, five of the top ten tech companies globally in terms of quantum investment are based in the US and four in China, with none in the EU. European companies attract only 5% of global private funding in quantum technology, compared to 50% attracted by US companies. The strategy will be followed by a quantum technology law to be proposed by the end of the year.