Israel allocates $62 M to fund country’s first quantum computer

By IQT News posted 16 Feb 2022

(YnetNews) Israel announced on Tuesday it will finance the construction of the country’s first-ever quantum computer.
The Israel Innovation Authority and the Defense Ministry’s Administration for the Development of Weapons and Technological Infrastructures said they will allocate a budget of approximately NIS 200 million ($ 62.5 million) for the project.
“Quantum computational capability will lay the technological infrastructure for an Israeli ecosystem that will lead future developments in security, economics and technology, engineering and science,” the Defense Ministry said in a statement.
Head of the Administration for the Development of Weapons and Technological Infrastructures in the Defense Ministry Dr. Danny Gould said that the decision constitutes a significant step in establishing Israeli technological independence.
“Quantum computing, on all its different facets, appears to be an important future component of state security and its technological superiority,” he said.
Israel Innovation Authority Director Dror Bean said that the local industry “must develop knowledge and access to the infrastructure with which it will be able to develop growth engines in the fields it will be wise enough to lead.”

Subscribe to Our Email Newsletter

Stay up-to-date on all the latest news from the Quantum Technology industry and receive information and offers from third party vendors.

  • Forthcoming Events

    • IQT Fall (Quantum Cybersecurity)
      October 25-27, 2022
      New York City | In-Person
      (website forthcoming)
    • IQT The Hague (Quantum Communications)
      February 21-23, 2023
      The Hague | In-Person
      (website forthcoming)
    • IQT Spring (Quantum Enterprise)
      April 18-20, 2023
      San Jose | In-Person
      (website forthcoming)
    • Sponsorship / Speaking: