Manufacturing AUTOMATION

Federal government offers $17.2M funding support for quantum projects in Ont.

February 26, 2024
By Manufacturing AUTOMATION

The Government of Canada has announced an investment of over $17.2 million through the Regional Quantum Initiative to support 12 innovative companies within southern Ontario’s quantum sector. With this funding, the companies will advance and commercialize their quantum products and solutions for domestic and global markets and support up to 150 jobs.

On behalf of the Honourable Filomena Tassi, Minister responsible for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario); the Honourable Bardish Chagger, Member of Parliament for Waterloo; along with Bryan May, Parliamentary Secretary to the Minister for Small Business and to the Minister responsible for FedDev Ontario; Valerie Bradford, Member of Parliament for Kitchener South–Hespeler, and Tim Louis, Member of Parliament for Kitchener-Conestoga, made the announcement.

This investment is an important step in advancing the Government of Canada’s National Quantum Strategy.

Some of the projects that have received funding include:

  • Crypto4A Technologies received $3,750,000. Crypto4A’s quantum-ready hardware security solution is developed and manufactured here in Ontario. This repayable investment will accelerate the company’s ability to address evolving fundamental security challenges of the digital economy while supporting the manufacturing sector of Ontario and support more than 50 jobs.
  • Xanadu Quantum Technologies received $3,750,000. This repayable investment will help the company to advance and improve its existing PennyLane software, which is a tool for programming quantum computers, and support over 20 jobs. Xanadu aims to optimize the software for practical applications in industries, such as finance, materials, pharmaceuticals and transportation.
  • ISARA Corp received $1,750,000. This repayable investment will support the company as it commercializes its network analysis tool, which can be used to support the migration of information systems to emerging quantum-enabled secured communication protocols. This project will also support over 20 jobs.
  • CogniFrame received $635,775. This repayable investment will help to create a cost-effective simulator that will make quantum computing accessible to Canadian start-ups and enterprises while creating 5 jobs. The simulator aims to lower entry barriers, particularly in healthcare and finance projects, making it easier for developers to adopt quantum technologies
  • AI Incorporated received $465,884. This repayable investment will support late-stage product development to accelerate the commercialization of the company’s Quantum SLAM technology. Quantum SLAM brings together the company’s two previous technologies, implementing both onto a single computer chip that can now enable innovators to implement high-speed, low-cost mobile robotics solutions for products ranging from robot vacuum cleaners to autonomous vehicle lifts while supporting eight jobs.

 


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