The Province of Ontario renewed its investment in world leading quantum technology research today allotting $25 million to the Institute for Quantum Computing at the University of Waterloo over five years as part of the 2014 Ontario Budget.

"The Province of Ontario continues to create the conditions for Ontario, and Canada, to lead the world in quantum information research," said Feridun Hamdullahpur, president and vice-chancellor of Waterloo. “We are extremely grateful for the renewed commitment to this area of research which has the potential to fundamentally change the way we live.”

The Institute for Quantum Computing (IQC) at Waterloo is among the top five quantum research institutes in the world. It brings together researchers from the Faculties of Science, Engineering and Mathematics at the University of Waterloo and has attracted investment from the private sector as well as the provincial and federal governments.

“Ontario’s renewed support for IQC further positions Waterloo to take full advantage of the opportunities of quantum information science and technologies,” said Professor Raymond Laflamme, executive director of IQC. “The discoveries in our labs and the technologies our researchers are creating will drive the growth of the Quantum Valley with entirely new quantum industries growing and thriving here.”  

As quantum information research matures from theory to experiment, transformational technologies are spawning an entirely new industry – quantum information technology.

“Building on its previous investments, the Ontario government is committing $25 million over the next five years to the Institute for Quantum Computing, at the University of Waterloo,” said Daiene Vernile, MPP for Kitchener Centre. “This cutting-edge research and technology could result in profoundly improved computer speeds, and lead to significant commercialization opportunities here and around the globe.”

The Province of Ontario made a $50M investment in IQC in 2006. IQC has also attracted more than $300 million in investments from the Government of Canada, Mike and Ophelia Lazaridis and the University of Waterloo. The investment has allowed IQC to make significant strides:

The Government of Canada announced in February a further $15 million for IQC over three years.


  • IQC is among the top five quantum research institutes worldwide. Established in 2002 by the University of Waterloo, with the support of the Canada Foundation for Innovation, the Ontario Innovation Trust and Mike and Ophelia Lazaridis, IQC is driving the realization of quantum technologies and is a key partner in building the “Quantum Valley” here in Ontario.
  • IQC benefactors Mike Lazaridis and Doug Fregin announced the creation of Quantum Valley Investments in 2013, an investment fund worth $100 million.
  • IQC research bridges theory and experiments in quantum computing, quantum communication, quantum sensorsand quantum materials through the collaboration of more than 200 computer scientists, engineers, mathematicians, physical scientists and students.
  • IQC recently attracted renowned physicist Raffi Budakian from University of Illinois at Urbana-Champaign and researchers Michal Bajcsy from Stanford University andKyung Soo Choi from Korea Institute of Science and Technology (KIST) to grow its faculty complement to 21. IQC continues to grow towards its target of 33 faculty, 55 postdoctoral fellows and 165 graduate students.

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