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Ontario Investing in Quantum Science Innovation in Waterloo

January 17, 2024

Ontario Investing in Quantum Science Innovation in Waterloo

$14.9 million in funding helping Quantum Valley Ideas Lab drive breakthroughs in quantum technology

The Ontario government is investing up to $14.9 million to support a project by Quantum Valley Ideas Lab (QVIL), an independent research laboratory in Waterloo, that will accelerate the development and adoption of quantum science technologies by Ontario companies.

Quantum technologies, which rely on the physics of sub-atomic particles, have the potential to transform the communications, automotive, defence and aviation industries, amongst others.

Current applications include transistors, MRI scanners for medical imaging, solar cells for electricity generation and navigation where GPS is unavailable.

“Leaps in quantum science technologies will improve competitiveness, fuel innovation and drive economic growth across Ontario,” said Vic Fedeli, Minister of Economic Development, Job Creation and Trade. “Our government is proud to support Quantum Valley Ideas Lab and its researchers as they unlock quantum science technologies that will help Ontario companies become more competitive in the 21st century. Ontario’s cutting-edge innovation ecosystem continues to develop the technologies of the future and bring made-in-Ontario solutions to the world.”

QVIL, will receive up to $14.9 million through the province’s $107 million Critical Technology Initiatives program which supports programs that accelerate the use of critical technologies — such as 5G, blockchain, quantum and robotics — by Ontario companies. With this funding, QVIL will add to their existing lab infrastructure, continue specialized research in quantum sensing and provide co-op and internship programs for postdoctoral students and new graduates to develop and test quantum technologies and generate intellectual property.

“The Ontario government’s strong commitment to QVIL will play a key role in building a world class quantum sensing ecosystem in this province,” said Nick Werstiuk, CEO of Quantum Valley Ideas Lab. “We are proud to be part of these efforts to support the development, commercialization and adoption of quantum technologies and to grow the infrastructure and talent needed to advance Ontario’s leadership role in this critical sector.”

Quick Facts

  • Ontario has one of the largest information and communications technology sectors in North America and is home to over 400,000 Information and Communications Technology (ICT) workers.
  • Ontario’s technology sector is centred around the Toronto, Kitchener-Waterloo, and Ottawa regions. Waterloo is known as “Quantum Valley,” reflecting its quantum innovation ecosystem.
  • Quantum sensing significantly improves the sensitivity, accuracy and efficiency of sensors and other diagnostic technology. Potential real world- applications include early cancer detection, nanotechnology, improved geological exploration, defence and more.
  • Over 65,000 science, technology, engineering and mathematics (STEM) students graduate from post-secondary institutions across the province annually, generating some of the most sought-out talent in the world.
  • AI, 5G and quantum technologies are expected to contribute $29 trillion to the global economy by 2035, of which quantum technologies alone are expected to contribute $1 trillion.

Quotes

“Waterloo Region’s innovation ecosystem is a key competitive advantage for our province and country. Our investment in Quantum Valley Ideas Lab’s project will help Ontario make the most out of opportunities in this developing sector in the years to come. This investment will bring more jobs to our community and lead to healthcare developments that will benefit patients and providers.”

– Mike Harris
Member of Provincial Parliament for Kitchener-Conestoga

“Our government’s investment in Quantum Valley Ideas Lab speaks to our commitment to growing Waterloo Region, which is recognized worldwide for its advancements in technology and innovation. This partnership, like many others, will create good-paying jobs and see advances in technology that will benefit generations to come.”

– Brian Riddell
Member of Provincial Parliament for Cambridge

Additional Resources

Critical Technology Initiatives

Quantum Valley Ideas Lab

Source

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