Quantum technology is at the cutting edge of science and innovation. Canadian researchers, workers, and companies continue to demonstrate leadership on the world stage in quantum technology innovation and development, helping me in Canada and around the world, from fighting climate change to advancing global warming. It has the potential to transform the way we work and live. health care. The Government of Canada will continue to help Canadian businesses sustain growth and remain competitive, while at the same time promoting economic growth and creating highly skilled and well-paying jobs for Canadians.
Prime Minister Justin Trudeau announced today that Xanadu Quantum Technologies Inc., a Canadian quantum computing company based in Toronto, will build and commercialize the world’s first photonic-based fault-tolerant quantum computer. announced a new $40 million federal investment. Once this computer is developed, it has the potential to offer world-leading capabilities to help solve complex data problems and is used in a variety of fields such as finance, transportation, environmental modeling and health. may occur.
The $177.8 million project, supported through the government’s Strategic Innovation Fund, is expected to create 530 new highly skilled jobs in high-tech and quantum computing.
Home to one of the world’s largest quantum technology hubs, Canada is well-positioned to become a global leader in the developing quantum space, creating new opportunities for Canadians and Canadian businesses. The Government of Canada will continue to invest in innovative companies to grow the economy and create highly skilled and well-paying jobs for Canadians.
“Quantum technology is changing the world as we know it. Today’s announcement is great news for Canadian workers and businesses: This investment will bring good jobs, boost economic growth, foster innovation and strengthen Canada as a global leader in quantum technology. will do.”
“Quantum technology sets the course of the future, and thanks to companies like Xanadu, Canada is poised to be at the forefront. We are helping to grow the economy and create good jobs for Canadians.We will continue to build this sector through our National Quantum Strategy and support Made in Canada technology to ensure Canada is in the best possible position for decades to come. We will continue to be world leaders.”
“The government’s continued investment in quantum technology has been invaluable to our success. We are excited to enter the next phase of our mission to build a usable quantum computer.”
- Since the birth of quantum science over 100 years ago, quantum technology has been the source of many breakthrough innovations, such as semiconductors and lasers.
- Quantum science is the study, manipulation and control of systems at the atomic and subatomic levels.
- A study commissioned by the National Research Council in 2020 estimates that by 2045, Canada’s quantum industry will be a $139 billion industry, including all economic impacts, and create more than 200,000 jobs. increase.
- Earlier this month, the Canadian government launched a National Quantum Strategy. This will see her invest an additional $360 million to cement Canada as a world leader in quantum technology.
- Over the past decade, the Canadian government has invested over $1 billion in quantum research and science.
- Additionally, the government has invested to bring new quantum technologies to Canadian and global markets, including investments through the Canadian Regional Development Agencies, the Strategic Innovation Fund, and the National Research Council of Canada’s Industrial Research Support Program.
- Xanadu is a prominent contributor to Canada’s innovation ecosystem and is committed to continuing to support innovation, growth, and the Canadian R&D sector.
- Founded in 2016, Xanadu is a Toronto-based Canadian quantum computing company with a mission to build convenient and accessible quantum computers anywhere. Xanadu has become one of the world’s leading quantum hardware and software companies, leading the development of PennyLane, an open source software library for quantum computing and application development.