You won't see the fruits of this funding for a while. The flagship doesn't get underway until 2018, and it's going to take some time after that before you see anything come out of it. Even so, the very fact that a cross-continent governmental organization is pouring that much cash into the technology is telling. It reflects a belief that real-world quantum computing is relatively close at hand, and that it just needs a boost (albeit a very expensive one) to escape the lab.