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Quantum News Briefs July 3: Elevate Quantum & Partners receive Tech Hub funding for quantum innovation; Biden administration provides $504 million to support 12 technology hubs nationwide; SK Telecom has unveiled quantum cryptography chip Q-HSM

IQT News — Quantum News Briefs
By Sandra Helsel posted 03 Jul 2024

News releases:

Elevate Quantum & Partners receive Tech Hub funding for quantum innovation

Colorado-based Elevate Quantum, of which CU Boulder is a key partner, announced July 2 that it has received a Tech Hub Phase 2 implementation award from the Department of Commerce, unlocking more than $127 million in new federal and state funding.
The award is expected to drive more than $2 billion in additional private capital and cement the Mountain West as a global leader for quantum innovation.
In 2023, the U.S. Department of Commerce’s Economic Development Agency (EDA) designated Elevate Quantum as one of 31 regional Tech Hubs out of nearly 400 applicants, making it eligible for up to $1 billion in federal investments over the next decade. With $40.5 million in initial EDA funding from the Department of Commerce and matching funds from Colorado ($77 million) and New Mexico ($10 million), today’s investment represents a down payment on the next 50 years of U.S. quantum leadership.
Elevate Quantum consortium submitted the application for the designation as a hub and was competing with the Chicago Quantum Exchange to be recognized as the country’s Silicon Valley of quantum technology. The Chicago Quantum Exchange wasn’t among the 12 tech hubs included in the round of $504 million in funding announced by the Economic Development Administration.
Developed under the CHIPS and Science Act, Tech Hub designation is a novel tool to direct domestic investment to globally competitive innovation centers within the U.S. The award marks the first large-scale, place-based federal investment in quantum.

In Other News:

In Other News: AP News provides analysis & details: Biden administration provides $504 million to support 12 technology hubs nationwide”

AP News reported on the Biden administration’s announcement on Tuesday, July 2 that it was providing $504 million in implementation grants for a dozen technology hubs in Ohio, Montana, Colorado, Nevada and Florida, among other locations.
The money would support the development of quantum computing, biomanufacturing, lithium batteries, computer chips, personal medicine and other technologies.
The Democratic administration is trying to encourage more technological innovation across the country, instead of allowing it be concentrated in a few metro areas such as San Francisco, Seattle, Boston and New York City.
NOTE: See “Elevate Quantum news release directly above that discusses the Colorado award.”

The Biden Administration followed up July 3 with official news release:The Biden-Harris Administration, through the U.S. Department of Commerce’s Economic Development Administration (EDA), announced another funding round of approximately $504 million in implementation grants to 12 Tech Hubs to scale up the production of critical technologies, create jobs in innovative industries, strengthen U.S. economic competitiveness and national security, and accelerate the growth of industries of the future in regions across the United States.

In Other News: TelecomTV reports that SK Telecom has unveiled quantum cryptography chip Q-HSM

South Korean telecom giant SK Telecom has unveiled a next-generation quantum cryptography chip, Q-HSM, designed to meet the requirements of future data encryption standards and bolster defences against future cyberattacks according to June 20 TelecomTV.
The chip has been developed in collaboration with Korean hardware-based cryptographic module specialist KCS and is the first product to be launched by SK Telecom’s recently announced quantum alliance.
According to SK Telecom, the “world-first” chip integrates hardware-based quantum random number generator (QRNG) technology, which creates strong, unpredictable passwords, software-based post-quantum cryptography (PQC) functions and physical duplication protection (PUF) technology. This integration enhances cybersecurity measures by utilising complex mathematical algorithms to preemptively defend against potential quantum attacks.
The chip is the first product to come from SK Telecom’s quantum technology alliance that was announced in March, when the telco joined forces with six other prominent companies – Nokia, SOS Lab, Xgate, Wooriro, KCS, and IDQ Korea – to form the Quantum Alliance. The aim of the strategic collaboration is to develop pioneering quantum solutions and engage in joint marketing and business development.




Tags: AI, CHIPS & Science Act, Elevate Quantum, Quantum, Sk Telecom, Tech Hub

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