In a recent development, founders and strategists in France’s quantum field are calling for more funding initiatives targeted towards deep tech and quantum technologies within the European Union (EU). Quantum computing has the potential to immensely reduce calculation speeds for complex problems, providing a “quantum advantage” to its owners.
Neil Abroug, head of the French quantum strategy, emphasized the need for synergies between national and EU-level efforts, stating that Europe must play a full role in this technological advancement. However, the quantum industry requires significant capital investment to support the growth of companies.
France has already taken steps to support its tech ecosystem, including initiatives like the French Tech label and favorable fiscal systems. Additionally, the French investment fund Quantonation has dedicated itself fully to investing in quantum technologies, managing assets worth €100 million.
Despite these efforts, founders and experts highlight the lack of large European funds as a limitation for the quantum sector’s growth. This issue became apparent when Pasqal, a French startup, raised €100 million during its Series B round in 2023, and international investors had to step in.
Raising awareness of this challenge, Nicolas Proust, Pasqal’s head of strategy, emphasized the importance of the French authorities building a financing ecosystem for deep tech startups. Other founders, like Pierre Desjardins from quantum startup C12, also stressed the need for concrete action from public authorities to facilitate technological development.
The EU has addressed the lack of funding through initiatives like the European Tech Champions Initiative. However, these initiatives have not specifically designated funding for quantum technologies.
The article concludes by quoting Théau Peronnin, CEO and co-founder of Alice & Bob, who highlights the challenge of finding lead investors capable of contributing substantial amounts of funding. He suggests that European investment funds with deep tech expertise are currently scarce.
To foster the growth of the quantum industry and fully leverage its potential, it is crucial for the EU to support targeted funding initiatives and establish dedicated investment funds for quantum technologies in collaboration with member states.
The source of the article is from the blog revistatenerife.com