SUMMARY
- The NQM will soon offer grants to 10 to 15 emerging startups focused on quantum technology as per NQM governing body Chairman Ajay Chowdhury.
- He mentioned that the government is actively seeking startups to enhance research and development in quantum technology (QT).
- The Union Cabinet approved the NQM with a budget allocation of Rs 6,003.65 crore from FY24 to FY31.
The National Quantum Mission (NQM) will soon offer offer grants to 10 to 15 emerging startups focused on quantum technology, according to Dr Ajai Chowdhury, the chairman of the NQM’s governing body.
During his speech at the International Conference on Quantum Communication, Measurement & Computing at IIT-Madras, Chowdhury, who founded HCL Infosystem, mentioned that the government is actively seeking startups to enhance research and development in quantum technology (QT).
Chowdhury stated, “Within the next three months, we will be handing grants to 10 to 15 good startups. We want to see them grow, scale and go global. There have been some good products developed, especially in cryptography. We have also been working to get various software companies to get involved, and encourage them to invest in quantum.”
In an interview with Hindu Business Line, Chowdhury mentioned that the NQM will launch several initiatives soon, including a grant program for startups requiring funding between Rs 10 to 50 crore, and the development of India’s first quantum computer in the coming months.
The Union Cabinet approved the NQM with a budget allocation of Rs 6,003.65 crore from FY24 to FY31. This mission, under the Department of Science and Technology, is dedicated to fostering, scaling, and creating a dynamic ecosystem for scientific and industrial research and development in quantum technology.
The government aims to significantly strengthen the local startup ecosystem and support existing programs like Startup India, Make In India, Stand-up India, Skill India, and Digital India. The NQM is projected to benefit sectors such as communication, healthcare, finance, energy, and potentially drug design and space technology.
The execution of the mission involves the establishment of four thematic hubs (T-Hubs) at leading academic and national research and development institutes in the areas of quantum computing, communication, sensing & metrology, and materials & devices.
Chowdhury went on to add, “The whole objective is that we bring together all researchers under the thematic hub. We felt that we must involve startups in a big way. We wrote to about 40-odd startups and we met about 14 startups to understand where we are,” Chowdhury said during the event.”
He also noted that the mission is receiving a strong response, with nearly 385 proposals submitted for the creation of thematic parks and other quantum technology zones.
In June, Union Minister Jitendra Singh announced that India has successfully nurtured over 40 quantum technology startups within a span of two years, a significant number of which possess international potential. He also extended his appreciation for the contributions made by the IIT-Madras incubated QNu Labs.
