Breakthrough Victoria, an Australian government’s investment agency, also known for a few of the best scientific, digital, and knowledge institutes and businesses in the world, has announced its investment in the US-based global quantum company, ColdQuanta. The A$29 million investment will help establish the ColdQuanta–Swinburne Quantum Technology Centre, an Asia-Pacific quantum computing and technology facility located at the Swinburne University of Technology in Melbourne, Australia.
“Victoria’s investment in quantum will drive economic growth and ultimately a competitive advantage for Australia. Building this Centre will attract new opportunities to Victoria and bring the expertise needed to leverage quantum technology to its fullest extent. ColdQuanta is excited to be part of building quantum capabilities in, with and for Australia.
This partnership is an important milestone for ColdQuanta as it further expands our global presence and recognises the technical leadership of our hardware and software products.”
ColdQuanta CEO, Scott Faris
Victoria’s premier research and development organization, Breakthrough Victoria, has made a strategic investment in ColdQuanta, a leading quantum technology company based in the U.S. ColdQuanta will collaborate with the Swinburne University of Technology to deliver world-class quantum capabilities, connect the scientific community with business, and foster local employment development and economic progress. It will serve as a portal to the larger quantum community at other universities, bolstering Australia’s sovereign capability in quantum technology.
Quantum technology uses the subatomic building blocks of nature to perform computer calculations more efficiently, provide more secure communications, and deliver more accurate healthcare imaging through quantum sensing. The quantum investment will fund quantum breakthroughs with commercial potential and create local jobs. This era will witness the development of deep tech— the technology that has the potential to revolutionize how we live, work, and travel.
“Quantum technology has the potential to transform many sectors, including the pharmaceutical, energy, finance, transport and communications industries. Breakthrough Victoria’s investment will accelerate R&D and commercialisation in quantum technology, attracting greater investment into Victoria.
The investment will create jobs and develop world class skills development in quantum technology, while producing long-term, sustainable returns for Victoria.”
Grant Dooley, Breakthrough Victoria CEO
The funding will support the following:
- The ColdQuanta-Swinburne Quantum Technology Centre possesses world-class quantum capacity;
- The Quantum Workforce Development Initiative will construct a world-class education and training facility to prepare the future quantum workforce and meet the global skills need.
- The advancement of manufacturing capabilities, including the potential for local fabrication of glass cells used in the cold atom method, to facilitate quantum technology miniaturization; and
- The expansion of advanced manufacturing capabilities in photonics development and miniaturization.
According to the CSIRO, Australia’s national science organization, the quantum technology industry has the potential to sustain 19,000 new employees and create $6 billion in annual income by 2045.
Swinburne’s world-leading strengths in cold-atom science and technology make us a natural partner with ColdQuanta as we work together to grow the quantum industry in Victoria. By using atoms cooled to the lowest known temperatures in the universe, we are opening the pathway to a broad suite of quantum technologies that can potentially revolutionize the world as we know it. Working at the intersection of industry, research, and investment, we are delighted to be helping upskill and reskill the next-generation workforce required to power this revolution and bring people and technology together to build a better world.”
PASCALE QUESTER, Swinburne University of Technology’s Vice-Chancellor and President
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