The country is investing to accelerate the development of commercial applications in fields such as chemistry, financial services and logistics optimisation, highlights Intralink, a business development consultancy.
The report has been prepared by as part of the UK-APAC Tech Growth Programme, which the company is delivering for the UK government.
It cites, for example, that newly-created Japanese ‘Quantum Innovation Hubs’ are promoting global partnerships, in areas such as technology licensing and joint product development
The report also identifies three main application areas that represent the greatest immediate opportunities for UK tech firms: Quantum finance, Quantum chemistry, and Quantum optimisation.
It highlights the role, for example, of quantum chemistry – how quantum technology could enable Japanese corporations to undertake accurate simulations of molecular structures and chemical reactions to advance drug discovery and material design.
“The transformative potential of quantum computing in Japan is clear,” said William Jasprizza, Managing Director of Intralink Japan and a co-author of the report, pictured. “And our report confirms the huge opportunities awaiting UK firms with the expertise to help Japanese companies develop practical, commercial solutions in a range of sectors.”
“Japan’s government and tech sector face fundamental challenges, including a lack of quantum tech education and a scarcity of skilled researchers, and this is fuelling their appetite to collaborate with companies from overseas.”
Quantum computing
Key points in the report include that the quantum computing sector in Japan could be worth up to £1.74 billion by 2032.
Japan’s tech sector, led by companies including Fujitsu, NEC, Toshiba and Hitachi, has prioritised quantum annealing and simulation approaches – it says – creating a particular opportunity for UK companies offering gate-based alternatives.
You can read the full report on UK Quantum Computing, via LinkedIn.
UK-APAC
The aforementioned UK-APAC Tech Growth Programme recently saw four UK companies receiving help to accelerate plans for expansion in Japan.
Aimed at UK technology startups headquartered in the UK, the programme is a government-backed initiative run by Intralink. The latest four companies to be selected for that programme were Spaceflux, Natcap, Brill Power, and Accelerated Materials.
They will benefit from a 10-week, subsidised business development initiative in Japan. As part of this, the compnay’s Tokyo team will carry out research into each company’s potential in the country, as well as engaging potential Japanese customers and partners, “facilitating meetings to kick-start commercial discussions and developing a follow-on strategy to build on the exercise”.