<\/p>\n
Alyn Smith and wafer processing<\/p>\n
Innovation Minister Alyn Smith will today encourage global industry leaders to invest in Scotland\u2019s fast-growing quantum technology sector. <\/p>\n
Addressing the Quantum Technologies Showcase Scottish reception at Edinburgh Castle tonight, Mr Smith will highlight Scotland\u2019s unique strengths to UK and international leaders.<\/p>\n
His call comes as Scottish Widows, one of the UK\u2019s largest workplace pension providers, has invested in four companies, including two in quantum computing, though neither is in Scotland.<\/p>\n
However, they are its first investments in UK venture growth companies and coincide with mounting concern at the pace at which institutional funds are backing early-stage British tech. Aberdeen Investments manages the overall fund on behalf of Scottish Widows.<\/p>\n
\u201cThese investments show how pension capital can help category-defining UK companies move from scientific leadership to commercial scale,\u201d Scottish Widows said.<\/p>\n
The guests at tonight\u2019s reception in Edinburgh include Technology Scotland CEO Dr Alastair McInroy; British Ambassador to Denmark Victoria Billing; and delegates from across the US, Europe and Asia-Pacific, including business and finance representatives from companies such as Fujitsu, Ericsson and Hitachi.<\/p>\n
The sector uses quantum physics to build new kinds of technology which can solve problems that conventional technology struggles to overcome. <\/p>\n
Quantum technology is part of Scotland\u2019s Critical Technologies Supercluster which already supports more than 160 companies and 11,500 jobs. Turnover is projected to grow to \u00a310 billion by 2035 \u2013 creating a further 6,600 jobs. <\/p>\n
In the last financial year the Scottish Government has committed \u00a35 million to support increased innovation and economic growth in advanced technology areas where Scotland has the greatest potential to lead.<\/p>\n
Ahead of tonight\u2019s event, Mr Smith said: \u201cQuantum is not a technology for one sector. It\u2019s a foundation for the next generation of innovation..<\/p>\n
\u201cFor Scotland, quantum technologies have applications across industries where we already excel \u2013 from our space sector, helping satellites navigate to life sciences, enabling faster drug discovery and disease research. And in defence, improving sensing and security, as well as optimising power networks in our energy systems.<\/p>\n
\u201cThere is no doubt, Scotland is the place to do quantum. We are a top five location globally for the quantum sector with 40% of the UK\u2019s research in quantum technologies over the last decade taking place here in our world-class universities, and Scottish universities leading two of the UK\u2019s Quantum hubs while being active in all five.<\/p>\n
\u201cFor centuries Scotland has punched above its weight in science and innovation, and we intend to keep doing so in the quantum era.\u201d<\/p>\n
Tonight\u2019s event is happening ahead of the UK National Quantum Technologies Showcase in London on 6 November.<\/p>\n
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\t #Smith #hails #Scotlands #quantum #leap #Widows #move #Daily #Business<\/p>\n","protected":false},"excerpt":{"rendered":"
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