The European Union is planning new steps to attract private investment in quantum technology as part of its effort to reduce reliance on the United States and China and become a global leader in the field by 2030.
EU tech chief Henna Virkkunen said only 5% of global private investments in quantum technology currently go to Europe, and increasing that share is a priority. She said the focus now must shift toward private funding, as public investment is already strong.
Over the past five years, the European Commission and EU member states have provided more than 11 billion euros in public funding for quantum development.
The EU’s new Quantum Strategy was announced Wednesday and includes plans for countries to share research, infrastructure, and support for start-ups and scale-ups. It also focuses on using the technology for both civil and defence purposes.
Virkkunen said European start-ups are at risk of being acquired by foreign companies or relocating due to better funding opportunities elsewhere. She stressed the need for immediate action to support them.
The European Commission plans to introduce a Quantum Act next year to follow up on the strategy and strengthen the region’s position in the sector.
Quantum technology is expected to make data processing much faster than current systems and could impact the entire economy, with market potential valued in the trillions within the next decade.
