EU Seeks Private Investment in Quantum Technology to Compete with US and China

The European Union is ramping up efforts to attract private capital for quantum technology, aiming to close the gap with the US and China. Despite €11 billion in public investment over the past five years, only 5% of global private quantum funding flows into Europe. Executive Vice-President Henna Virkkunen emphasized the need for a vibrant startup ecosystem and dual-use applications bridging civilian and defense needs.

Quantum technologies are already making waves in medicine, with next-generation scanners offering unprecedented precision in cancer and neurological diagnostics. Beyond healthcare, quantum gravimeters are revolutionizing water resource management and seismic monitoring. "Quantum might sound like science fiction, but it is already a reality," Virkkunen stated, underscoring its transformative potential for the economy and security.