The aim of this initiative is to improve access to financial and commercial support for SMEs developing innovative quantum technologies.
The aim of the partnership is to invest in quantum technologies that would not otherwise be supported within an investor’s risk strategy and to support innovations that have clear potential to be adopted at scale. Innovate UK is seeking investors that:
- demonstrate the interest, capability and capacity needed to invest in early-stage companies, including university spin-outs and businesses looking for their first investment opportunities
- demonstrate the ability to add value beyond their investment
- commit to helping the company grow and scale
- have access to relevant sector and technology-specific expertise
Phase 2 of the competition will see successful investors work with Innovate UKthe ISCF to fund a broad range of SMEs working on promising projects that exploit the new generation of quantum technologies including:
- connectivity: techniques for securing data in storage and in flight
- situational awareness: this includes autonomous systems, sensors and detectors for the built environment, transport and infrastructure, and imaging and sensing to “see things currently invisible”
- computing: transformational computers for solving currently intractable problems
Funded business projects are expected to range in size between £250,000 and £2 million.