More than $23 million available over six years to commercialize quantum technologies
OTTAWA, ON, June 20, 2022 /CNW/ - Quantum technology is at the leading edge of science and innovation, and will have a transformative impact on key sectors, such as computing, communications and security. To ensure Canadian entrepreneurs are well-positioned to take advantage of these opportunities, the Government of Canada is making strategic investments to: grow quantum-ready technologies, companies and talent; and solidify Canada's global leadership in this area.
Today, the Honourable Helena Jaczek, Minister responsible for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), announced that businesses can now apply to the Regional Quantum Initiative (RQI) in southern Ontario. FedDev Ontario is delivering more than $23 million over six years to support eligible businesses to advance and commercialize their quantum products and solutions for domestic and global markets. This investment is an important next step in advancing a National Quantum Strategy.
Repayable contributions of up to $5 million will be provided to projects that involve a range of activities to demonstrate, commercialize and scale-up Canadian-made quantum technologies, solutions and companies. Project examples include technology demonstration geared towards market growth; commercialization, aimed at bringing new tech to market; business development and capacity building; and adopting quantum technologies.
Applications are now being accepted until September 20, 2022. For more information on eligibility criteria and eligible costs, or to apply to the Regional Quantum Initiative, visit FedDev Ontario's web page.
"Southern Ontario is home to many competitive advantages, including world-leading research centres and high-potential quantum companies, and is well-positioned for quantum breakthroughs. The launch of the Regional Quantum Initiative will provide businesses in this sector with the support they need to commercialize their technologies and bring them to market, helping make Canada a world leader in advancement of quantum technologies."
- The Honourable Helena Jaczek, Minister responsible for the Federal Economic Development Agency for Southern Ontario
"Quantum science will transform how everything is designed and developed. It has the potential to dramatically grow the economy and create thousands of well-paid jobs. Our government, through important investments like these and the National Quantum Strategy, is proud to amplify Canada's strength in quantum science and further cement Canada's leadership in this field."
- The Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry
Quantum science is the study, manipulation and control of systems at the atomic and subatomic level. Quantum science can lead to transformative technologies in fields such as computing, sensors, secure communications and advanced materials development.
Potential areas of quantum technology for funded projects could include: quantum computers, quantum software, quantum sensors, quantum communications and quantum materials.
Budget 2021 announced a $360-million Government of Canada commitment to launch a National Quantum Strategy (NQS) to support a vibrant Canadian quantum industry and help build the workforce needed to solidify Canada's global leadership in this growing sector.
The Government of Canada is already helping Canadian companies bring their quantum technologies to market– including investment through ISED's Innovative Solutions Canada program, the National Research Council of Canada's (NRC) Challenge programs and the Regional Quantum Initiative program (RQI) offered through Federal Economic Development Agency for Southern Ontario.
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SOURCE Federal Economic Development Agency for Southern Ontario
View original content: http://www.newswire.ca/en/releases/archive/June2022/20/c5337.html