Quantum technology is at the leading edge of science and innovation, and will have a transformative impact on key sectors, such as computing, communications and security. To ensure Canadian entrepreneurs are well-positioned to take advantage of these opportunities, the Government of Canada is making strategic investments to: grow quantum-ready technologies, companies and talent; and solidify Canada’s global leadership in this area.
Today, the Honourable Helena Jaczek, Minister responsible for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), announced that businesses can now apply to the Regional Quantum Initiative (RQI) in southern Ontario. FedDev Ontario is delivering more than $23 million over six years to support eligible businesses to advance and commercialize their quantum products and solutions for domestic and global markets. This investment is an important next step in advancing a National Quantum Strategy.
Repayable contributions of up to $5 million will be provided to projects that involve a range of activities to demonstrate, commercialize and scale-up Canadian-made quantum technologies, solutions and companies. Project examples include technology demonstration geared towards market growth; commercialization, aimed at bringing new tech to market; business development and capacity building; and adopting quantum technologies.