Canada's Leading Quantum Technology Companies Launch "Quantum Industry Canada"

Industry Association will accelerate the commercialization of Canada's quantum sector - a $142.4B opportunity for Canadians.

TORONTO, Oct. 6, 2020 /CNW/ - A consortium of Canada's leading quantum technology companies announced today that they are launching Quantum Industry Canada (QIC), an industry association with a mission to ensure that Canadian quantum innovation and talent is translated into Canadian business success and economic prosperity.

The twenty-four founding members represent Canada's most commercial-ready quantum technologies, covering applications in quantum computing, quantum sensing, quantum communications, and quantum-safe cryptography.

Canadian academic researchers in quantum science and technology are world class and have great global impact in these fields – Canada has punched above its weight in basic research. Now, a global transition is underway from basic research to commercialization and industrial applications of quantum technology. The QIC was created to ensure that Canada remains a global leader in this new emerging industry and seizes the opportunity created by years of public investment into scientific research.

"The US, EU and China are aggressively funding quantum R&D and seeding technology ecosystems. Canada's leadership in quantum is an important opportunity for Canada to position itself as the provider of advanced quantum components and solutions to emerging global technology ecosystems, grow our global market share and return a benefit to Canadians" said Michele Mosca, Board Co-Chair for Quantum Industry Canada.

Members will collaborate and coordinate to communicate Canada's quantum readiness to a global audience of technology ecosystems, talent and investors. QIC will also support Canadian quantum start-ups and mature players through access to expertise in intellectual property and go to market strategies. The association will work together with the provincial and federal governments to strategically support this emerging industry.

The National Research Council of Canada (NRC) has identified Quantum technology as a $142.4 billion opportunity that could employ 229,000 Canadians by 2040¹. Canada is already a leader in quantum research and development, ranked first in per capita spending with over one billion dollars invested since 2005 (ranked #1 overall in quantum computing research, #5 overall).

"It is time to reap the value of Canada's years of R&D investment and technical strengths in this extremely important emerging technology. Quantum Industry Canada will facilitate access to venture capital and global talent, and support in protecting strategic IP that are essential to the successful commercialization of our quantum industry" said Sally Daub, Founder of Pool Ventures, an early-stage technology investor and board member of Quantum Industry Canada.

"The use of quantum technology in healthcare, pharmaceutical research, resource management, finance, telecommunications and security will be transformative to the global economy in the coming decades. Canadian companies and governments should start thinking about their quantum strategies now. They stand to benefit from access to the technology being developed by Canada's quantum technology companies" added Jennifer Elliott, Co-Chair of Quantum Industry Canada.

Companies and Organizations looking to leverage quantum innovation in their own business are encouraged to contact QIC for partnership and affiliate opportunities.

The consortium is headquartered in Toronto, Ontario, Canada and meets on a quarterly basis. The founding members of QIC include: D-Wave, 1Qbit, Xanadu, Zapata, ISARA, and others. A complete list of members is available on the QIC website.

About Quantum Industry Canada (QIC)
Quantum Industry Canada (QIC) is a consortium of Canadian quantum technologies companies that includes developers of technologies for quantum computing, quantum communications and cryptography, quantum sensing and quantum-safe cryptography as well as companies developing applications of these technologies. For more information, visit www.quantumindustrycanada.ca or linkedin.com/company/quantum-industry-canada/ and follow @canada_quantum on Twitter.

SOURCE Quantum Industry Canada

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