Insight

The Special Relationship: Why PsiQuantum came home from the US

18.6.24 Creating a Scientific Superpower Conference

Mark Thompson, co-founder of PsiQuantum, one of the world's largest privately-owned quantum computing companies, shares the remarkable journey of the company from its inception by UK academics to its rise in Silicon Valley and eventual return to the UK.

Contributors:

Matt Allen

Senior Executive Director, Clients, Markets & Strategy

Founded by four UK professors in 2016, PsiQuantum set out with the ambitious goal of building the world's first large-scale, fault-tolerant, error-corrected quantum computer. After securing substantial funding and support in the US, the company grew to 300 employees and achieved a valuation of over $3 billion. Thompson highlights the unique advantages of Silicon Valley, including access to talent, a thriving ecosystem, and a culture that fosters rapid growth.

However, PsiQuantum's recent expansion back to the UK showcases the country's strength in cryogenic expertise and its potential as a science superpower. By establishing an R&D facility at Daresbury Laboratories, PsiQuantum has leveraged the UK's specialized infrastructure and supply chain to accelerate their development roadmap. Thompson emphasises the significance of the UK's research innovation and the need to strengthen the special relationship with the US to maximise benefits for both nations.