The National Quantum Mission (NQM) is set to provide grants to 10-15 start-ups working in the field of quantum technology, according to a report by Inc42. This initiative aims to boost research and development in quantum technologies (QT) in India.
Ajai Chowdhury, chairman of NQM’s governing body and founder of HCL Infosystem, shared this announcement at the International Conference on Quantum Communication, Measurement & Computing hosted by IIT-Madras. Chowdhury emphasized the government’s focus on startups to drive innovation and growth in quantum technologies.
“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,” Chowdhury said, as reported by Inc42.
Additionally, according to the Hindu Business Line, Chowdhury mentioned that future government initiatives will include a grant program specifically targeting startups in need of funding ranging from Rs 10-50 crore. This funding is part of a broader effort to launch India’s quantum computer in the coming months.
The NQM was approved last year, with a budget allocation of Rs 6,003.65 crore from FY24 to FY31. The mission’s primary objective is to “seed, nurture, and scale up scientific and industrial R&D and create a vibrant and innovative ecosystem in QT.”
The mission, which operates under the Department of Science and Technology, is expected to significantly contribute to several government initiatives, including Startup India, Make in India, Stand-up India, Skill India, and Digital India. These initiatives are projected to benefit various sectors such as communication, healthcare, finance, energy, drug design, and space applications.
As part of the mission’s implementation, four thematic hubs (T-hubs) will be established in top academic and national R&D institutes, focusing on quantum computing, commuting, sensing & metrology, and materials and devices.