The Engineering and Physical Sciences Research Council initiative will work in partnership with industry to train PhD students.
The investment has been made in response to a national strategy on the growth of quantum technologies.
The document, National strategy for quantum technologies, published by the Quantum Technologies Strategic Advisory Board, aims to help guide decisions about investments in the technology over the next 20 years.
The National Quantum Technologies Programme invested £120 million in a network of university-led quantum hubs in 2014. These are led by the universities of Birmingham, Glasgow, Oxford and York.
Universities, science and cities minister Greg Clark said that quantum technologies are set to “transform the way we live”.
“Quantum skills will allow us to bring game-changing advantages to future timing, sensing and navigation capabilities, in a sector that could be worth more than £1 billion to the UK economy,” he said.
“That is why we are investing up to £15 million to train specialists with the right entrepreneurial and business skills to ensure we have the talent to keep us ahead of growing international competition.”
Vince Cable, business secretary, said: “Quantum technologies are taking innovation to a whole new level and offer an unparalleled opportunity to shape the next generation of high-tech products that will improve our day-to-day lives.”
“This £15 million investment will ensure we have the flexible, highly skilled workforce needed to turn these futuristic ideas into a reality,” he added.
The EPSRC will shortly be issuing a call for proposals in relation to the initiative.