New Funding Adds to Waterloo’s Historical Investment in Quantum Technology
(FinancialPost) Waterloo is working to position itself as a globally significant centre for quantum technology. The federal government announced funding for quantum projects now totals $41 million, with a $20 million grant going to the non-profit charitable organization Quantum Valley Ideas Lab. Waterloo is home to the Perimeter Institute for Theoretical Physics and the Institute for Quantum Computing, both founded by Lazaridis, co-founder of Blackberry Inc.
Innovation Science and Economic Development Minister Navdeep Bains made a new funding announcements for ISARA and several other companies at Quantum Valley Investments explaining that the area invested early in quantum tech and have been working on the development of the Quantum Valley here in Waterloo for more than two decades. “There’s little doubt that if Canada were to try to start its quantum efforts today, now that quantum is hot, it would have been extremely difficult if not impossible for us to catch up to today’s enormous investments in the United States, United Kingtom, Europe and China,” Lazaridis said.
NOTE: The University of Waterloo/Institute of Quantum Computing was an exhibitor at the recent Inside Quantum Technology Summit 2019 in Boston.