Quantum computing can solve some wicked problems - from limiting global warming to delivering game-changing reductions in drug discovery times.
Investment (both private and public ) in Quantum computing is expecting to soar - and has actually doubled from 700m to 1.4b in 2021 with massive benefits identified in life sciences and pharmaceuticals, chemicals, automotive, and finance—which can add as much as $700 billion in the next 10 years .
Barrier to Entry for startup Quantum Companies
There have been 15 new quantum startups in 2nd half of 2021 however most of the funding has been directed to Series A, B, C, and D companies.
This can be interpreted in a number of ways ….
- There are relatively few startups and those that are in play - there is significant support to help the grow
Or
- There is a huge barrier to entry for quantum startups with 15 identified on 2nd half of 21
China is leading the Quantum race Globally
China 🇨🇳 seems to be at the forefront of Quantum - where significant government funding has been allocated(15.3b) Twice as much as Europe and 8 times as much to the USA
In 2021 China holds 53 patents , Japan, 15,Europe 12 and USA 10
The problem - A massive Talent Gap
There is a massive talent gap inhibiting Quantum computing growth .
People need to be upskilled and reskilled into the sector - with an estimated 350k needed on the sector
Only 29 of the 176 universities worldwide offer master’s degrees in quantum technologies. Almost half of these programs (41 percent) are in the United States.
When comparing active job postings for quantum computing experts to the number of graduates ready to fill these positions each year, demand outpaced the number of graduates by three to one.
The talent gap for quantum technology jobs could be addressed with upskilling programs for talent in related disciplines.
McKinsey has created a detailed report on Quantum Computing and Communications that can be found here click here
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