WATERLOO, Ont. (March 23, 2006) -- The University of Waterloo welcomes today's tremendous announcement by the Ontario government of substantial investments in research and innovation in two Waterloo-based institutes.
At Queen's Park this afternoon, in the budget announcement, Finance Minister Dwight Duncan pledged $100 million in new support: $50 million for the Institute for Quantum Computing at UW; and $50 million for the neighbouring Perimeter Institute for Theoretical Physics.
UW President David Johnston voiced praise for the far-reaching announcement.
"The announcement of the $100-million commitment supporting Perimeter Institute, and the Institute for Quantum Computing at the University of Waterloo, is a splendid, outstanding piece of province-building," said President Johnston. "In today's knowledge economy it is critical that we invest in fundamental research, and in the people who will take us to new frontiers of discovery. Premier McGuinty, as Minister of Research and Innovation, has shown superb leadership with this budget -- clearly understanding the importance of investment in research and innovation to Ontario's future."
Raymond Laflamme, Director of IQC, joined in commending the Ontario government initiative.
"This is tremendous news for our research program in the IQC. We are simply overwhelmed with this indication of faith in our research program into the fundamentals and laws of quantum physics," said Dr. Laflamme. "We have already been building a great team of international scholars. This funding will help us to ensure that our work will continue at a global level of excellence."
Support for the two institutes came as the province also announced substantial investment in other research and innovation projects: $17 million for 3 new awards to recognize new research and innovation talent; $25 million to establish the Premier Summit Awards to support excellence in medical research; $16.2 million for development of Phase II of MaRS Discovery Project; and $160 million for accelerating commercialization and growth of innovative startups.
The University of Waterloo Institute for Quantum Computing (IQC) at UW, and the independent Perimeter Institute for Theoretical Physics (PI), also in Waterloo, represent an emerging, highly focused cluster of international scientific research with transformative potential. Quantum theory has clearly demonstrated that quantum information processing - computing at the atomic and sub-atomic levels - will revolutionize cryptography. This holds profound implications for the security of IT systems including national defense, financial markets and healthcare systems. The scientific pursuit of the quantum computer will produce vital technological spin-offs. Early research findings indicate that quantum-based systems have the potential to produce powerful new technologies that will inevitably eclipse today's information processing devices. Waterloo Region is established as a magnet for top international talent in advanced physics research. This unique public-private partnership in this key strategic area ensures that Canada will lead the world in quantum technologies far into the future.
Contact:
David Fransen, Executive Director, Institute for Quantum Computing, (519) 888-4567, ext 6704 dfransen at iqc.ca
Raymond Laflamme, Director, Institute for Quantum Computing (519) 888-4567, ext 2430 laflamme at iqc.ca
Martin Van Nierop, Director, UW Communications & Public Affairs, 519- 888-4881; vanierop at uwaterloo.ca
John Morris, UW Media Relations, 519-888-4435; jmorris at uwaterloo.ca
University of Waterloo Release no. 48