A trio of bleeding-edge Cambridge companies are being funded by the Government to help propel the UK to global leadership in quantum computing.
Article by Tony Quested | Business Weekly
Cambridge University spin-out Nu Quantum has been awarded four projects for the Industrial Strategy Challenge Fund for a total of £3.6 million alongside industrial heavyweight partners such as BT, NPL and Airbus. The company – based at the world-famous Cavendish Laboratory – says it is “ecstatic” at the news.
Founded only in 2018, Nu Quantum has created a portfolio of patented and ground-breaking single-photon components fundamental to the realisation of commercially-viable photonic quantum technologies.
Nu Quantum has some impressive investors and business builders as partners, including Hermann Hauser’s Amadeus Capital Partners, Martlet – the angel investment vehicle of Marshall of Cambridge – Innovate UK and the university’s commercialisation arm, Cambridge Enterprise among others.
In a new £70 million funding boom, Arm and Riverlane have won cash and backing from UK Research and Innovation as part of its Quantum Technologies Challenge.
Developing one of the world’s first quantum computer operating systems, Riverlane – one of the UK’s first quantum software companies – will partner with world-leading chip architect Arm along with the UK’s leading computing hardware startups to develop an innovative operating system.
This will be used across all major quantum computing hardware technologies – helping businesses to unlock commercial opportunities.
Science Minister Amanda Solloway said: “The UK is home to some of the world’s most advanced quantum technology companies tackling some of the most pressing challenges – from speeding up the diagnosis of cancerous tumours to detecting harmful gas leaks.
“I am delighted the Government is able to provide this thriving sector with the backing it deserves. The projects I have announced will help to maintain the UK’s status as a world leader in quantum technology.”