The Dutch Ministry of Economic Affairs and Climate Policy announced the allocation of €615 million to power the advancement of quantum technology, according to a statement. QuTech, the leading Dutch quantum institute, is a key partner of Quantum Delta NL.
National Growth Fund
National Growth Fund, an investment fund created by the cabinet of the Netherlands to boost economic growth and maintain prosperity for the foreseeable future, awarded the capital. An independent commission tasked with reviewing investment proposals was led by Jeroen Dijsselbloem, former Chairman of the Board of Governors of the European Stability Mechanism, which includes HRH Prince Constantijn van Oranje-Nassau and Robbert Dijkgraaf, director of the Institute of Advanced Studies in Princeton.
“There is no doubt that quantum technologies will have a profound impact on the world, transforming information and communication technology systems to deliver benefits for all of society. This investment in Quantum Delta NL’s ambitious program signifies the Netherlands’ long-term commitment to advancing the technology,” said Ronald Hanson, chairman of the Supervisory Board Quantum Delta NL.
A consortium of leading professors, scientists, industry stakeholders, and 80 organizations collaborated in drafting the pitch for the €615 million bid. The budget will help rapidly scale the national agenda’s multi-year program, which is organized around four pillars: R&D, talent development, market creation, and societal impact. With this funding, the quantum industry in the Netherlands projects it will create 30,000 high-tech jobs and have a cumulative economic impact of €5 to 7 billion. According to a recent Boston Consulting Group report, the market for quantum could grow to around $300 billion worldwide by 2050.
“An ecosystem approach was activated where the academic, public, private and government sectors work symbiotically to drive the initiative forward. While the Netherlands has already matured from strategy to the execution phase of the NAQT, this critical funding is needed to scale the ecosystem in all its facets: people, facilities and capital,” said Freeke Heijman, Director of Quantum Delta NL.
The funding provides the Netherlands with a unique opportunity to convert its lead in quantum technology into sustainable earning power for the benefit of Europe as a whole. The Netherlands has a long track record of innovation in quantum technology and continues to play a leading role in building a world-class European quantum ecosystem. For example, Dutch researchers lead the development of semiconductor and germanium quantum processors, the use of entanglement for a quantum Internet, and the launch of the first European quantum computer in the cloud.
Quantum Delta NL is focused on supporting the complete ecosystem by providing companies with the infrastructure necessary to build quantum computers. The geography of the Netherlands works as an advantage: all major clusters are within a 1-hour drive from each other and function as a single, interconnected ecosystem. Through its focus on enabling partnerships, Quantum Delta NL is uniquely qualified to fuel the development of quantum technology globally.