Quantum technology is at the cutting edge of science and innovation. As Canadian researchers, workers and companies continue to demonstrate global leadership in the innovation and development of quantum technologies, we have the opportunity to transform the way we work and live in Canada and around the world – in areas ranging from combating climate change to advancing health care. The Government of Canada will continue to support Canadian businesses to help them grow and remain competitive, while driving economic growth and creating skilled, high-paying jobs for Canadians.
Prime Minister Justin Trudeau announced today a new federal investment of $40 million to enable Toronto-based Canadian computer company Xanadu Quantum Technologies Inc. When developed, this computer will have the ability to provide universal capabilities to help solve complex data problems and can be used in various fields such as finance, transportation, modeling environment and health.
Supported through the government’s Strategic Innovation Fund, this $177.8 million project is expected to create 530 highly skilled new jobs in the high-tech and IT sectors.
Home to some of the largest quantum technology centers in the world, Canada is well positioned to become a global leader in the quantum field, which will create new opportunities for Canadians and Canadian companies. The Government of Canada will continue to invest in innovative businesses to grow the economy and create high-skilled, high-paying jobs for Canadians.
“Quantum technology is changing the world as we know it. With the potential to solve complex problems in major fields such as healthcare, finance and climate science, this field expands the areas of potential. Today’s announcement is good news for Canadian workers and businesses. This investment will bring good jobs, spur economic growth, promote innovation, and strengthen Canada as a global leader in quantum technology.”
“Quantum technology will set the course of the future and thanks to companies like Xanadu, Canada is at the forefront ready to lead. With today’s announcement, our government is strengthening Canada’s position in quantum technology and helping to create economic growth and good jobs for Canadians. We will continue to build this sector through the National Quantum Strategy and support Canadian-made technology so that Canada remains a global leader for decades to come.
“The government’s continued investment in quantum technology is invaluable to our success. We are proud to be a Canadian company and, with this investment, we are excited to enter the next phase of our mission to build quantum computers that are useful and accessible to everyone, everywhere. anywhere. “
A quick fact
- Since the birth of quantum science more than 100 years ago, quantum technology has been the source of many game-changing innovations such as semiconductors and lasers.
- Quantum science is the study, manipulation and control of systems at the atomic and subatomic levels.
- It is estimated that by 2045, the Canadian quantum industry will be a $139 billion industry, including all economic impacts, and will account for 200,000 jobs, according to a study by the National Research Council in 2020.
- Earlier this month, the Government of Canada launched the National Quantum Strategy, which invests an additional $360 million to help Canada become a world leader in quantum technology.
- Over the past 10 years, the Government of Canada has invested more than $1 billion in research and science.
- In addition, the government has invested in bringing new technologies to Canadian and global markets, including investments through Canada’s regional development agency, the Innovation Fund. Strategic, and the National Research Council of Canada’s Industrial Research Assistance Program.
- Xanadu is a prominent participant in Canada’s innovation landscape and is committed to continuing to support innovation, growth and Canada’s research and development sector.
- Founded in 2016, Xanadu is a Canadian computer company in Toronto with a mission to build quantum computers that are useful and accessible to everyone. Xanadu has become one of the world’s largest hardware and software companies and is leading the development of PennyLane, an open source software library for quantum computing and application development.