BERLIN, June 10 (Xinhua) -- Ten leading German companies have founded the Quantum Technology & Application Consortium (QUTAC), the involved companies said in a joint statement on Thursday.
The group would aim to promote research on quantum computing and translate their knowledge into operational industrial applications for the technology and insurance sectors, the chemical and pharmaceutical industry as well as the automotive industry in Germany and Europe.
The number of involved companies was restricted to a small circle to allow for a "pragmatic exchange and rapid decision-making in order to develop practical solutions in the short and medium term," according to the statement.
Welcoming the initiative, German Minister of Education and Research Anja Karliczek said Germany and Europe "must become leaders in quantum technology."
Research and industries would have to cooperate to be successful, Karliczek added. This was why the government would also invest in the promotion of quantum computing through the country's quantum technologies framework program.
Germany significantly extended its subsidies for quantum technologies, supporting both foundational research as well as the industrialization of hardware and software with a budget of two billion euros (2.4 billion U.S. dollars) over five years.
The ten founding members of QUTAC are BASF, Boehringer Ingelheim, Bosch, Infineon, Merck, Munich Re, SAP, Siemens as well as carmakers Volkswagen and BMW Group. (1 euro = 1.22 U.S. dollars) Enditem
