Investment promotes commercialization of quantum computing technology
BURNABY, BC, March 11, 2021 /CNW/ – Quantum computing is a transformative technology in which Canadian researchers, businesses and workers have developed a leading global advantage. This technology will have a significant impact on the daily lives of Canadians and will be a driver of economic growth and good jobs. This is why the Government of Canada has identified it as a strategic opportunity for the country and is increasing its support to the sector.
Today, the Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry, announced a $40-million contribution to D-Wave Systems Inc. of Burnaby, British Columbia, one of Canada’s most innovative and intellectual property–rich firms. This contribution will support a $120-million project to develop quantum computer hardware and software systems, ensuring that Canada remains at the forefront of quantum technology development.
The project will help D-Wave further the advantage of quantum technology over classical computers by enhancing the processing capabilities and computing power of its current systems. To reach this objective, the company will develop a new and more powerful quantum processor and provide additional advancements for its quantum computers.
With this project, D-Wave will be well positioned to bring its next-generation quantum system to market, which could improve productivity, innovation and analytical capabilities across Canada’s economy. This investment will also enable D-Wave to provide greater access to its cloud-based service, which is particularly helpful to small and medium-sized Canadian companies that would benefit from access to the power of quantum computing. This effort will strengthen the Canadian innovation ecosystem and accelerate the commercialization of quantum computing services.
Through this project, D-Wave commits to creating and maintaining up to 200 jobs, employing up to 10 co-op students annually, and spending more than $480 million on R&D. D-Wave will also provide quantum computing access to qualified members of the quantum computing ecosystem in Canada to encourage its development….