Wenmiao Yu, Quantum Dice
Quantum Dice offers a high-speed and self-certifying ‘Quantum Random Number Generator’ to enhance encryption and simulations
As part of our research for the most recent Royal Academy of Engineering State of UK Deep Tech report, we asked several of our portfolio companies about their experience as deep tech business leaders and decision makers. Each entrepreneur shares their unique experience of working in deep tech in the UK, the barriers faced and what can be built on to further strengthen
the sector.
I co-founded Quantum Dice straight after university, meeting my co-founders during the University of Oxford’s Student Enterprise Programme. My experience to date taught me that deep tech ventures, especially those involving hardware, face unique challenges because of their long gestation periods and extended product development cycles. This makes early access to the right investors - those willing to commit to scientific founders for the long haul - absolutely critical.
Wenmiao Yu, founder, Quantum Dice
Structured yet efficient entrepreneur support programs accessible at various stages, from pre-seed to growth phases, are equally vital as they help founders evolve into capable business leaders while enabling them to build and strengthen their internal teams. Good examples are the Quantum Technology Enterprise Centre for pre-seed, and the Shott Scale-Up Accelerator at the Royal Academy of Engineering Enterprise Hub.
The UK is a world leader in scientific research, supported by top-tier academic institutions and industry-specific hubs such as the Quantum Hubs. The government’s commitment to identifying and supporting emerging technologies through phased, targeted funding programmes has been instrumental in driving progress. For instance, the UK National Quantum Technologies Programme, now in its 10th year, has played a significant role in advancing quantum technology spinouts.
Early-stage grant funding, such as those delivered through Innovate UK for quantum technologies in particular, has been crucial to accelerate product development while mitigating risks for investors. These UK companies have successfully raised international funding, sold to global clients, and many are now scaling up.
Key enablers in the quantum sector include government-led procurement programmes and leadership from national bodies to encourage enterprise adoption of new quantum solutions. For example, the work that the National Physical Laboratory did to develop new standards for QRNGs really helped Quantum Dice’s commercialisation process. However, significant barriers still remain. As the quantum sector is still relatively nascent, and the pool of early adopters in the UK is understandably limited, UK-based quantum companies need to establish pilots and sales with overseas buyers to survive. Facilitating easier international market entry is critical as it would enable UK quantum companies to scale more effectively, drive technology adoption, and establish a stronger global presence.
You can read more Entrepreneur Viewpoints in our Royal Academy of Engineering State of UK Deep Tech report