Stay in the know
We’ll send you the latest insights and briefings tailored to your needs
The National Quantum Strategy sets out the key themes and actions to be delivered on Australia’s quantum industry over the next 7 years
On 3 May 2023, the Australian Department of Industry, Science and Resources released Australia’s long-awaited National Quantum Strategy (‘Strategy’). The Strategy comes following a period of consultation late last year on the proposed framework for the National Quantum Strategy (see our previous update for more detail on the consultation and a handy summary of quantum technologies).
The Strategy is based on an ambitious vision for Australia in 2030 to be recognised as a leader of the global quantum industry and for quantum technologies to be integral to a prosperous, fair and inclusive Australia. The Strategy centres around 5 themes, each with their own set of high-level actions which are aimed at addressing the opportunities and challenges facing Australia’s quantum industry.
Below we have summarised each of the key themes of the Strategy, along with the Australian Government’s actions and underlying rationale behind them.
The Strategy recognises that the quantum sector faces challenges with attracting early-stage long-term capital, as well as connecting businesses and investors to maturing quantum research and technologies.
The key actions proposed to support this theme are:
The Strategy recognises that Australia’s quantum industry relies on global supply chains that are vulnerable to disruption.
The key actions to support this theme are:
The Strategy recognises a need for quantum literate businesses and workers that can identify and use new quantum applications across various sectors.
The key actions to support this theme are:
The Strategy recognises that while quantum technologies could give Australia enormous economic and sovereign capability advantages, uses of quantum technologies need to be responsible and appropriately controlled to protect research, capabilities and investments. However, navigating the regulatory environment was identified in the Strategy as a key challenge for technology industries, and so there is a need to ensure regulatory frameworks are fit for purpose and responsive to technological developments.
The key actions to support this theme are:
The Strategy recognises that building principles of responsible development and use of quantum technologies will be critical to aligning them with Australian values and expectations around the protection of human rights.
The key actions to support this theme are:
The Strategy proposes that, starting in 2023, the Australian government will run periodic benchmarking reviews of the quantum sector to measure progress against the Strategy. It sets out various qualitative and quantitative measures of success, which will include:
By articulating the key actions to be taken under the Strategy, Australia continues to pursue its ambition to be a leader in the global quantum industry. All that remains is action and implementation to achieve this vision, and the next 7 years leading to 2030 will be pivotal.
The contents of this publication are for reference purposes only and may not be current as at the date of accessing this publication. They do not constitute legal advice and should not be relied upon as such. Specific legal advice about your specific circumstances should always be sought separately before taking any action based on this publication.
© Herbert Smith Freehills 2024
We’ll send you the latest insights and briefings tailored to your needs