Path to European quantum unicorns

Abstract

Quantum computing holds the potential to deliver great economic prosperity to the European Union (EU). However, the creation of successful business in the field is challenging owing to the required extensive investments into postdoctoral-level workforce and sophisticated infrastructure without an existing market that can financially support these operations.This commentary paper reviews the recent efforts taken in the EU to foster the quantum-computing ecosystem together with its current status. Importantly, we propose concrete actions for the EU to take to enable future growth of this field towards the desired goals. In particular, we suggest ways to enable the creation of EU-based quantum-computing unicorns which may act as key crystallization points of quantum technology and its commercialization. These unicorns may provide stability to the otherwise scattered ecosystem, thus pushing forward global policies enabling the global spread of EU innovations and technologies.The unicorns may act as a conduit, through which the EU-based quantum ecosystem can stand out from similar ecosystems based in Asia and the United States. Such strong companies are required because of the level of investment currently required in the marketplace. This paper suggests methodologies and best practices that can enhance the probability of the creation of the unicorns.Furthermore, we explore future scenarios, in which the unicorns can operate from the EU and to support the EU quantum ecosystem. This exploration is conducted focusing on the steps to be taken and on the impact the companies may have in our opinion.

Quantum Biotechnology

“…[ 322 ] Estimates of the total market for quantum technologies vary, but are generally in the range of hundreds of billions of dollars. [ 321,323–325 ] For instance, a recent report from the global consulting company McKinsey and Co. estimates a market in the range of US$300–700 billion by 2035. [ 321 ]…”

“…[322] Estimates of the total market for quantum technologies vary, but are generally in the range of hundreds of billions of dollars. [321,[323][324][325] For instance, a recent report from the global consulting company McKinsey and Co. estimates a market in the range of US$300-700 billion by 2035. [321] McKinsey projects that biotechnological applications such as the design and production of chemicals and pharmaceuticals are likely to represent the largest market sector for quantum technologies.…”

Quantum Physics in Space

“…Furthermore, the cost-to-performance ratio, where space qualifying a quantum device can bring a clear gain [724], needs to be taken into account for projects that require conspicuous investments. Indeed, similarly to the challenge of commercialising quantum technology, sending quantum devices into space requires extensive scientific and technical investments and a mature infrastructure that can financially support these operations [725]. This section summarizes some of the main challenges and advancements that quantum technologies need to face to be successfully translated into space from the perspective of both the academic and the industrial The following list, though not complete, applies to every space mission involving quantum technologies on board.…”

Development of an Undergraduate Quantum Engineering Degree

“…Understanding these dynamics, national governments all over the world are now investing heavily in developing the new workforce that will underpin the emerging quantum economy [22], [23], [24], [25]. Commercial organizations are also moving quickly in the same direction [26], [27].…”