The end goal is to accelerate the time-to-market of European industrial innovation in quantum technology and establish a trusted supply chain. The project is intended to cater to the needs of the industry and support it via Open Calls, thus boosting EU’s position in the quantum race.
Qu-Test is a European initiative to coordinate investments and efforts in quantum technology, which holds tremendous potential for the industry. China and the US are also investing in quantum technology, and major players in Germany have formed a consortium. Qu-Test Impact focused on providing a network of testing and experimental facilities accessible through a single-entry point to foster the creation of new companies and boost the growth of existing ones. The market opportunity for quantum technologies is estimated to be significant, with quantum computing players expected to reach nearly $80 billion in value by 2030, while quantum sensing and communication are estimated to generate $13 billion in revenues by 2030. The European quantum industry ecosystem includes start-ups, university spin-offs, SMEs, and mid-caps, and Qu-Test aims to support this ecosystem to boost its organic growth further.
The Qu-Test consortium’s use case companies estimate a significant increase in revenue and job growth only a few years after implementing the testbed. This shows that even a minor investment in Qu-Test can have a large multiplier effect and boost businesses greatly. Extrapolating the individual economic benefits to the European economy, with about 10 use cases per year, the potential benefits may amount to tens of millions of EUR and dozens of new jobs created per year.
