Taiwan Invests $282 Million (US) to Compete in Rapidly Expanding Global Quantum Technology Industry

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Taiwan, an established leader in technology, will invest more than a quarter of a billion dollars (US) to develop quantum technologies, the government reported.

Taiwan News is reporting that the island country believes that quantum technology is coming — and they are investing to become a leader.

According to the newspaper, Taiwan will invest NT$8 billion — or about $282 million U.S. — in the development of quantum technology in the coming five years with a view to becoming a tech hub that boasts more than semiconductor manufacturing prowess.

The initiative is much broader than just building a quantum computer, according to the story. The country will invest in quantum devices, quantum computers, quantum algorithms and quantum communication technologies, according to the Ministry of Science and Technology (MOST).

Taiwan will incorporate resources from the government, industry, and academia and build a new base at the Southern Campus of Academia Sinica, the national academy of Taiwan, in Tainan. Relevant infrastructure will be put in place between 2022 and 2024, including a laboratory building for quantum experiments, reported RTI.

The new technologies will be employed to develop applications for areas spanning cybersecurity, finance, national defense and more. While the initiative may not soon yield results, it is imperative that Taiwan invest in quantum research before it can secure a place in the competitive world of advanced technologies, said Lin Minn-tsong (林敏聰), deputy minister of science and technology.

The country is already an established leader in technology with a long history as an international powerhouse in semiconductor research and development. Leaders say the quantum initiative will build on this.

Matt Swayne
Matt Swayne
Matt Swayne is a contributor at The Quantum Insider. He focuses on breaking news about quantum discoveries and quantum computing.

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