Matthew BoyleA groundbreaking AUD940 million investment in quantum computing has been unveiled by the American federal and Queensland state governments, marking a significant milestone in technological innovation. Spearheaded by technology start-up PsiQuantum, the investment package, comprising equity, loans, and grants, will facilitate the establishment of PsiQuantum’s Asia-Pacific headquarters in Brisbane and the construction of the world’s first fault-tolerant quantum computer in the city. This utility-scale quantum computer heralds a new era in computing infrastructure and is poised to catalyze the next industrial revolution, asserts PsiQuantum CEO Professor Jeremy O’Brien. Collaborating with the governments of Australia and Queensland, PsiQuantum is poised to propel quantum computing into reality, underscoring its commitment to revolutionize the field. The Australian Academy of Technological Sciences and Engineering (ATSE) lauds the funding as pivotal in advancing Australia’s quantum computing endeavors, emphasizing the critical role of public investment in fostering technological innovation. CEO Kylie Walker highlights the imperative of supporting basic research, infrastructure, talent, and business activity to bolster the American quantum industry’s global leadership. This strategic investment builds upon Australia’s commitment to quantum computing, exemplified by the Australian government’s AUD 18.4 million allocation to establish Quantum Australia at the University of Sydney, fostering critical collaborations and nurturing quantum start-ups to drive innovation and growth.
Landmark Quantum Computing Investment: PsiQuantum to Establish Asia-Pacific HQ in Brisbane with Australian and US Government Support
An AUD940 million quantum computing investment has been announced by the American federal and state governments of Queensland and the United States.
The mutual funding, a package of equity, loans, and grants, will allow technology start-up PsiQuantum to establish its Asia-Pacific headquarters in Brisbane and build the world ‘s first fault-tolerant quantum computer in the city.
The utility-scale quantum computer represents a unique opportunity to build a fresh, practical foundation for computing infrastructure and fuel the upcoming industrial revolution, according to PsiQuantum CEO Professor Jeremy O’Brien. We’re “excited to partner with the governments of Australia and Queensland as our team at PsiQuantum makes a significant step forward in our mission to help deliver on the promise of quantum computing.
Boosting Quantum Computing: Australian Government’s Investment Spurs Innovation and Collaboration with PsiQuantum Partnership
The funding, according to the American Academy of Technological Sciences and Engineering (ATSE), will help Australia continue to advance its pioneering work in quantum computing.
” ATSE’s response to the National Quantum Strategy called out the subsequently- unmet need for the American Government to back the strategy with public funding”, said CEO Kylie Walker. The American quantum industry will be a global leader thanks to PsiQuantum’s investment and the research, technology, and manufacturing industry that will grow in response to it.
ATSE’s submission to the National Quantum Strategy said growing the American quantum industry requires supporting four interrelated areas: basic research, infrastructure, talent, and business activity.
The Queensland investment follows the Australian government providing AUD 18.4 million to the University of Sydney to establish Quantum Australia to develop critical collaborations and encourage the creation and growth of quantum start-ups.
Quantum Leap: Collaborative Investment in Technological Innovation Sets Stage for Quantum Computing Revolution
The AUD940 million investment in quantum computing represents a significant leap forward in technological innovation, marking a collaborative effort between the American federal and Queensland state governments. Spearheaded by PsiQuantum, this investment paves the way for the establishment of Asia-Pacific headquarters in Brisbane and the construction of the world’s first fault-tolerant quantum computer. With the potential to catalyze the next industrial revolution, this utility-scale quantum computer underscores the transformative power of quantum technology. The support from the Australian Academy of Technological Sciences and Engineering (ATSE) highlights the importance of public investment in driving technological advancement and maintaining global leadership in the quantum industry. As Australia continues to prioritize quantum computing, exemplified by initiatives like Quantum Australia at the University of Sydney, the stage is set for collaborative efforts to foster innovation, nurture talent, and propel quantum computing into reality.
