Investments in quantum startups have been buoyed by increasing government support worldwide, despite a worsening economic climate, the boss of the UK’s only listed quantum investor has said today.
The London-listed fund, which floated at the end of 2021, has also seen a “significant” uptick in the quality and number of potential investee companies coming forward.
In a statement today, CEO of Quantum Exponential Group Steven Metcalfe said: “With increasing governmental support globally for investing in quantum, we have found ourselves at an opportune moment to capitalise on the exciting stage of the evolution of this technology.
“Governments worldwide are increasing their contributions to the research and education of this revolutionary technology.”
Investment in early-stage quantum businesses and products have remained “very strong” despite spiralling inflation.
“Investors have realised that quantum computers are the future and will in time supersede classical computers, which are slower and unable to solve more complex problems,” Metcalfe explained.
In a report published last week, KPMG predicted that over the next two years “most” businesses will embrace emerging technologies such as quantum computing, alongside Web3 and the metaverse.
While 72 per cent of businesses are expected to have invested in quantum computing within the same timeframe.
However, a survey by KPMG, conducted by OnePoll, at the beginning of the year found that more than half of business decision makers thought quantum computing was “overhyped”, suggesting investors still have some convincing left to do.