Top Government’s Budget for Quantum Computing in 2022

Quantum computing tends to be one of the major disruptive technologies in the nearby future with a promise to simulate complex interactions of atomic structures through smart quantum computers. It also helps in performing fast searches of different kinds of data to solve unapproachable problems efficiently. The governments have started allocating million dollars budgets for investing in quantum computing for 2021-2025. Let’s know which country is pacing forward to be at the top of Quantum computing. China: The Government of China announced the funding of a multibillion-dollar quantum computing mega-project with the goal of making important quantum discoveries by 2030. It also pledged billions of dollars to fund the establishment of a Chinese National Laboratory for Quantum Information Sciences. The United States of America: The US Government signed H.R. 6227, the National Quantum Initiative Act, into law in December 2018. (NQI). The law allows a five-year investment of US$1.2 billion in quantum information research. France: The French government has announced a five-year €1.8 billion strategy to boost research in quantum technologies, particularly quantum computers, bringing public funding in the field from €60 million to €200 million per year, putting France in third place behind China and the United States in terms of quantum funding. Japan: For the fiscal year beginning April 2020, Japan’s government allotted around 30 billion yen (US$276 million) for quantum research, doubling the previous year’s proposal. The technology would also be a focus of a government-funded “moonshot” R&D initiative worth a total of 100 billion yen. South Korea: The new quantum computing research in South Korea will involve a five-year investment of KRW 44.5 billion (US$39.7 million) to create core quantum computing technologies and extend the research base. KRW 13.4 billion (US$11.9 million) has been invested in next-generation ICT technologies, such as ultra-high-performance computing, knowledge data convergence, system software, software engineering, information and intelligence systems, and human-computer interaction (HCI). By 2023, the government hopes to have completed a demonstration of a realistic five-qubit quantum computer system with over 90% dependability thanks to the development of essential quantum computing technologies. India: The Indian Government allocated Rs. 8000 crores for Quantum computing in the 2020 Financial Budget. Germany: In the next four years, the Germany Government will spend around 2 billion euros (US$2.4 billion) to assist the development of its first quantum computer and related technology. Germany’s Science Ministry will spend 1.1 billion euros by 2025 to fund Quantum computing research and development, which harnesses quantum physics to provide a leap forward in processing. That being said, these countries are competing against each other in the Artificial Intelligence race as well as Quantum computing. Indeed, the future is super-smart for us!