Quantum computing startups and deep-tech companies will be supported to advance their innovations through the NSW Government’s new $7 million Quantum Computing Commercialisation Fund.
Minister for Science, Innovation and Technology Alister Henskens said NSW’s quantum ecosystem is uniquely placed to be a global leader of quantum technologies.
“Thanks to the NSW Liberal and ³Ô¹ÏÍøÕ¾s Government’s strategic investment over the past decade, NSW is leading the nation in quantum research and development, boasting world-leading companies such as Silicon Quantum Computing, Diraq and Q-CTRL,” Mr Henskens said.
“Our 20-Year R&D Roadmap recently identified our world class quantum ecosystem as an area of competitive advantage, and we want to help our State flourish in this area to create new jobs and industries which will grow the economy and help secure a brighter future for the people of NSW.
“This fund will target both startups and existing deep-tech companies to ensure that innovative projects are accelerated towards commercialising quantum computing, maintaining our momentum and reinforcing NSW’s position as a global quantum centre of excellence.”
NSW Chief Scientist & Engineer Professor Hugh Durrant-Whyte said the Fund would support companies with quantum computing hardware or software within Technology Readiness Level 3 – 7, to help them develop their technology and attract large-scale private investment.
“The quantum technology industry has the potential to generate up to $4 billion in revenue and create 16,000 jobs by 2040,” Professor Durrant-Whyte said.
“Quantum technology is already revolutionising many aspects of our society and economy, including transport, health care, financial services, defence, weather modelling and cybersecurity.”
