OPINION: Europe’s quantum startups need more than research funding

According to McKinsey's 2026 Quantum Technology Monitor, investment in quantum technology startups reached €11.15 billion ($12.6 billion) in 2025, a six-and-a-half-fold increase from the previous year. Public funding for these startups, including governments, sovereign wealth funds, and universities, accounted for only 3% of the total, compared to roughly one-third in 2024.

The rise in private funding sources, such as venture and private equity investors, corporates, and public markets, suggests that the ecosystem around European quantum startups has become more diverse. However, this shift does not mean that public funding is no longer important. National quantum commitments can improve conditions for startups, but they typically provide funding for research, infrastructure, and training rather than direct support for companies.

European quantum startups, while benefitting from a strong research base, currently rely on a variety of funding sources beyond public money. The key takeaway for European founders is to understand where the money is intended to go and not to equate ecosystem funding with direct company financing.