Canadian Government Providing $2,210,000 to Support Establishment of Quantum Algorithms Institute (QAI);
(EP&T) The Canadian government has announced that it is providing $2,210,000 to support the establishment of the Quantum Algorithms Institute (QAI) to accelerate the innovation and commercialization of quantum technologies.
The Quantum Algorithms Institute, hosted at Simon Fraser University’s Surrey campus, will be a collaborative center aimed at attracting unique industry partnerships, growing a world leading talent pool, and developing commercial applications and adoption of quantum technologies. The Institute will use the funds to renovate a state-of-the-art physical hub to facilitate engagement, host collaborative events between industry and academia, organize quantum technology conferences for local and international players, and promote collaboration between existing quantum companies and potential new customers.
This funding is expected to result in training for at least 100 highly qualified personnel, bringing two quantum technologies to market, and helping 10 businesses adopt quantum technologies.
“Quantum technology is a key field that will bring opportunities and talent into British Columbia. Our government’s support to the Quantum Algorithms Institute is in line with our plan for a strong economic recovery, and our commitment to making strategic investments in digital technologies that will support growth and prosperity in the West.” said Mélanie Joly, Minister of Economic Development and Official Languages.
A new generation of optical and electronic devices use quantum effects to significantly enhance the performance over that of existing technologies. For example, quantum computers will be able to solve problems that the largest classical supercomputers would take thousands of years to solve, but in a fraction of the time. This technology will have significant impacts across many sectors including manufacturing, natural resources, finance, engineering, healthcare, defense, transport, telecommunications and life sciences.