• EU aims to lead quantum tech by 2030, reducing reliance on the US and China.
• Only 5% of global private quantum investments reach Europe, prompting focus on private funding.
• Quantum Act proposed for 2026 to bolster research, startups, and dual-use applications.

The European Union is growing its efforts to lead in quantum technology by 2030, with a focus on attracting private investment to reduce reliance on the United States and China, according to EU tech Chief Henna Virkkunen. She highlighted the transformative potential of quantum technology, which McKinsey estimates could be worth trillions of dollars within a decade due to its ability to process data significantly faster than conventional computing, impacting every sector of the economy.

In the last five years, the European Commission and EU member states have spent more than 11 billion euros (13 billion dollars) on this public funding of quantum technology. But Virkkunen insisted the necessity of strengthening of private investment, noting, “Only 5% of the global private investments on quantum are now coming to Europe. So we will especially work on the private funding part in the coming months.”

She emphasized the fact that public funding in Europe is strong but needs the support of private capital in order to remain competitive.

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The EU quantum strategy also demands countries to cooperate through the sharing of expertise and resources in research, quantum infrastructure and the startup ecosystem, especially in the field of dual uses in the areas of security and defense.

Virkkunen underscored the vulnerability of European quantum startups, stating, “European quantum startups, they are vulnerable to being bought by foreign entities or moving to areas with better funding, and this is why it is crucial to act now.” In order to facilitate this plan, the European Commission plans to propose a Quantum Act in 2026 to further strengthen the framework.