Israel moves national Quantum Computing forward with a $30 million funding push

The Israel Innovation Authority (IIA) has announced the creation of a consortium focused on developing quantum computing technologies in Israel. This consortium will have a budget of approximately $32.5 million and will operate for three years. The consortium will focus on two specific quantum processor technologies: trapped ions and superconductors, which are currently some of the field’s most advanced and mature technologies. The consortium will prioritize the development of quantum processors, system building blocks, coherent control tools, noise characterization and reduction software, and a fully automated software environment. These technologies will be used to advance quantum software and hardware development.

The state will invest NIS 115 million (Israeli Shekels) in a scientific technology association that is supposed to simultaneously promote two quantum technologies – trapped ions and superconductors according to tech12. A consortium will be made up of five Israeli tech companies: Elta Division of the Aerospace Industry, Quantum Art, Classiq, Kadama, and Raphael. The project will also receive support from leading academic groups from various research institutions, including the Hebrew University, the Weizmann Institute, Bar Ilan University, the Technion, and Soroka Hospital. The goal of the consortium is to build a “blue and white” national quantum computer.

The Quant

The Quant

The Quant possesses over two decades of experience in start-up ventures and financial arenas, brings a unique and insightful perspective to the quantum computing sector. This extensive background combines the agility and innovation typical of start-up environments with the rigor and analytical depth required in finance. Such a blend of skills is particularly valuable in understanding and navigating the complex, rapidly evolving landscape of quantum computing and quantum technology marketplaces. The quantum technology marketplace is burgeoning, with immense growth potential. This expansion is not just limited to the technology itself but extends to a wide array of applications in different industries, including finance, healthcare, logistics, and more.

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