The University of Waterloo thanks the Government of Canada for renewing its support for the Institute for Quantum Computing (IQC)
The University of Waterloo thanks the Government of Canada for renewing its support for the Institute for Quantum Computing (IQC).
Economic Action Plan 2014 announced today allots a further $15 million to IQC over three years.
"With this federal support, IQC and the University of Waterloo can help Canada lead the world in quantum research and in developing the new companies that will build the quantum information science industry," said Feridun Hamdullahpur, president and vice-chancellor of Waterloo.
A multidisciplinary research institute with researchers from the Faculties of Science, Engineering and Mathematics, IQC's goal is to be the world leader in the field of quantum information science and to develop the technologies that will fundamentally impact the ways in which we work, communicate and live.
Canada is a leader in quantum research and Waterloo's IQC is among the top five quantum research institutes in the world. As quantum information research matures from theory to experiment, transformational technologies are spawning an entirely new industry—quantum information technology. Today’s renewed support for IQC will lead to continued success for Canada in this rapidly emerging field.
“As a result of the partnership established between the Government of Canada and the Institute for Quantum Computing, Waterloo Region is uniquely positioned to take advantage of the full spectrum of opportunity quantum technologies present,” said Professor Raymond Laflamme, executive director, Institute for Quantum Computing at Waterloo. “IQC research doesn’t end in the laboratory. IQC is doing research that will make a difference in the way Canadians live their lives.”
In 2009, the Government of Canada first partnered with IQC with an investment of $50 million. That funding matched Ontario’s investment of $50 million, along with $100 million from Mike Lazaridis. With these investments, IQC has attracted international research talent, made significant discoveries and built a world-class centre for research in quantum technologies and its applications.
· Established by the University of Waterloo in 2002 with funding from the Canada Foundation for Innovation, the Ontario Innovation Trust, and from Mike and Ophelia Lazaridis, IQC set out to be a world leader in the field of quantum research.
· In 2009, the Government of Canada committed $50 million over five years to further develop IQC. IQC has successfully leveraged this funding with additional private and public sector funding.
· Partnership has been further extended through the establishment by IQC’s original benefactors of Quantum Valley Investments, an investment fund worth $100 million.
· IQC is a multidisciplinary scientific research institute at the University of Waterloo focused on harnessing the quantum laws of nature to discover and develop powerful new technologies that will transform information technology and drive the 21st century economy.
· IQC research bridges theory and experiments in quantum computing, quantum communication and other quantum devices through the collaboration of more than 200 computer scientists, engineers, mathematicians, physical scientists and students.
· IQC trains a large number of graduate students and post-doctoral researchers in various programs and offers educational outreach activities that inspire scientific discovery in the realm of quantum mechanics.
· In 2006, the Government of Ontario invested $50 million in IQC. This funding helped the institute leverage more than $150 million in future funding.
