Ontario budget supports quantum research at Waterloo
Ontario budget 2014: Institute for Quantum Computing receives $25 million for quantum information research
Ontario budget 2014: Institute for Quantum Computing receives $25 million for quantum information researchBy Tobi Day-Hamilton Institute for Quantum Computing
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.
“We are extremely grateful that 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.
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.
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Quantum information science and its resulting technologies have the potential to fundamentally affect the ways we work, communicate and live. As quantum information research matures from theory to experiment, transformational technologies are spawning an entirely new industry – quantum information technology.
“Today’s support for IQC further positions Waterloo to take full advantage of the opportunities that quantum information science present,” 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 Canada’s Quantum Valley. Entirely new quantum industries will grow and thrive here.”
IQC has attracted $350 million in funding
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.