Asia Tech Wire (May 30) -- The Singapore government on Thursday announced the National Quantum Strategy to drive the further development of the quantum industry.

The Research, Innovation and Enterprise 2025 (RIE 2025) plan under Singapore's National Research Foundation (NRF) will fund the strategy with S$296 million over five years.

The strategy includes the local design and production of quantum processors in Singapore.

And the National Quantum Strategy also focuses on developing quantum talent, offering 200 PhD and Masters scholarships over the next five years.

In addition, the Singaporean authorities will collaborate with local and overseas industry players to explore and implement quantum applications, particularly in the areas of finance, biology and chemistry.