Ontario, Canada invests $120 million to commercialize quantum technology

As part of Canada's National Quantum Strategy, Helena Jaczek, Minister of Federal Economic Development (FedDev Ontario) in Southern Ontario (South Ontario) announced on June 20 that from today, businesses can apply to Southern Ontario's Regional Quantum Initiative (RQI).

FedDev Ontario has provided more than 23 million Canadian dollars (about 120 million yuan) over six years to support eligible companies to advance and commercialize their quantum products and solutions for domestic and global markets.

Reimbursable contributions of up to $5 million will be made to projects involving a range of activities to demonstrate, commercialize and scale up quantum technologies, solutions and companies in Canada. For example, technology demonstrations for market growth; commercialization, bringing new technologies to market; business development and capacity building; and the adoption of quantum technologies . The initiative is already accepting applications until September 20, 2022.

This investment is an important step in advancing Canada's national quantum strategy. Under Budget 2021, the Government of Canada has committed $360 million to launch the National Quantum Strategy (NQS) to support a vibrant Canadian quantum industry and help build the workforce necessary to strengthen Canada's global presence in this growing industry leadership.

Quantum technologies are at the forefront of science and innovation and will have a transformative impact on critical areas such as computing, communications and security. To ensure that Canadian entrepreneurs can take advantage of these opportunities, the Government of Canada is actively making strategic investments. Funded projects include: quantum computers, quantum software, quantum sensors, quantum communications, and quantum materials.

The Government of Canada is helping Canadian companies bring their quantum technologies to market, including through Innovation, Technology and Economic Development Canada’s (ISED) Canada Innovation Solutions Program, the National Research Council of Canada’s (NRC) Challenge Program, and through FedDev Ontario. Investing in the Regional Quantum Initiative (RQI).

Helena Jaczek said, “Southern Ontario has many competitive advantages, including world-leading research centers and high-potential quantum companies, and is well-positioned for quantum breakthroughs. The launch of the RQI will provide businesses in the field with the support they need to bring Its technology is commercialized and brought to market, helping Canada become a world leader in quantum technology advancements."

François-Philippe Champagne, Canada’s ISED Minister, said: “Quantum science will change the way everything is designed and developed. It has the potential to drive massive economic growth and create thousands of high-paying jobs. Through important investments and a national quantum strategy, our government is expanding Canada's strength in quantum science and further strengthen Canada's leadership in this field."

Reference link:

https://www.canada.ca/en/economic-development-southern-ontario/news/2022/06/businesses-can-now-apply-to-the-regional-quantum-initiative-in-southern-ontario. html?utm_source=miragenews&utm_medium=miragenews&utm_campaign=news