A study from August 2023 suggested there were more than 50 UK-based quantum technology startups.
The United Kingdom recently rescinded a commitment to spend $1.7 billion to boost frontier technologies such as artificial intelligence and quantum computing. Insiders say this decision threatens to stifle innovation and could force startups to consider foreign investment options.
Conservative party leaders promised the funding less than a year ago but the Labour party’s June victory has apparently led to a change in direction. The $1.7 billion acceleration fund was taken off the table in early August and the response from the tech community has been nearly unanimously negative.
While cutting-edge development in the AI sector remains a global competition, there are essentially four major hubs for quantum technologies: China, the European Union, the UK, and the United States.
