EU looks to attract more private cash for quantum technology to boost the economy

The European Union (EU) rolled out its maiden quantum blueprint on Wednesday, determined to catapult the bloc into a leadership position by 2030 and reduce reliance on the US and China.

Executive Vice-President Henna Virkkunen told reporters in Brussels that, despite Europe’s strong record of public investment, over €11 billion in the past five years, it must now lure far more private capital if it hopes to rival both the US and China in this critical field.

The EU hopes to change its economy with technology

Virkkunen pointed out that only around 5% of global private quantum funding currently flows into Europe. To close that gap, the new EU Quantum Strategy calls for member states to pool research expertise, share cutting-edge infrastructures and nurture a vibrant ecosystem of startups and scale-ups.

The emphasis will be especially on dual-use applications that serve both civilian and defence needs.

“Quantum might sound like science fiction to some, but it is already a reality. These technologies will change our economy, our security, and how we solve complex problems.” Virkkunen.

Some of the earliest practical uses of quantum machines are already taking shape in medicine. Next-generation radio scanners, enhanced by quantum algorithms, promise cancer and neurological scans of unprecedented precision, and potentially at much earlier stages than existing techniques allow.

Beyond clinics, quantum gravimeter devices are being put to work mapping underground aquifers and monitoring seismic shifts with extraordinary sensitivity. Such tools could revolutionize water-resource management in drought-prone regions and bolster early-warning systems for earthquakes.

Meanwhile, Brussels is designing a continent-wide quantum communication network to shield sensitive data from future hacking methods. By harnessing entanglement and unbreakable key-distribution protocols, Europe hopes to safeguard everything from financial transactions to defence communications.

EU lags behind despite housing a third of global quantum startups

Virkkunen stressed that homegrown startups, flush with ideas but sometimes short on deep pockets, risk being scooped up by better-funded foreign rivals or relocating to regions with richer venture-capital markets. “European quantum startups… are vulnerable,” she said, making immediate action vital.

To address this, the Commission plans to table a landmark “Quantum Act” in 2026. This proposed legislation will formalize a legal framework for accelerating private investment, tightening cross-border coordination, and scaling up shared infrastructure, think pilot lines for quantum chips and pan-EU computing facilities.

Despite housing roughly a third of the world’s quantum startups and holding leadership in scholarly output, Europe lags in translating breakthroughs into marketable products, Virkkunen admitted. Fragmented national strategies and a dearth of industrial early adopters are cited as major hurdles.

“It is crucial to act now. Our aim is to propose solutions for scaling up, to further coordinate our currently fragmented efforts with member states, and, most importantly, to lead.” Virkkunen.

She emphasized the need to scale up production and applications.

Several member states have already rolled out their own schemes: France’s €1.8 billion quantum plan launched in 2021 aims for global leadership by 2025, while Germany committed €2.8 billion in 2023 to fast-track development and industrial uptake. Others, including the Netherlands, Finland, and Austria, have smaller, more focused initiatives targeting communication, sensing, and infrastructure.

Outside the EU, the UK last month indicated that it would invest 500 million pounds into quantum technology, also seen as the next AI, with the hope that it would reshape the economy as well as strengthen security.

The new EU strategy seeks to streamline these efforts, forging a unified path to ensure Europe not only keeps pace but leads. “It is crucial to act now,” Virkkunen concluded, underlining the importance of scaling production and driving real-world applications before rival blocs pull too far ahead.

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