Breakthrough Victoria invests in US quantum leader ColdQuanta to turbocharge quantum discoveries at new Swinburne R&D center
Breakthrough Victoria to invest A$29 million in US-based global quantum leader ColdQuanta. The investment will help establish an Asia-Pacific quantum computing and technology facility at Swinburne University of Technology known as ColdQuanta–Swinburne Quantum Technology Centre.
The investment will fund quantum advances with commercial potential and expand the state’s quantum capacity to create new industries and jobs to make Victoria a global player at the forefront of this critical technology.
This era defines deep technology that could revolutionize the way we live, work and travel: from reducing emissions and earth monitoring systems, developing pharmaceutical drugs, optimizing flight paths and the strengthening of cyber security systems.
Quantum technology uses nature’s subatomic building blocks to perform more efficient computer calculations, improve navigation and timing systems, provide more secure communications, and provide more accurate health imaging through quantum sensing. However, these quantum advances require long-term investment and a pool of skilled talent.
Building on shared expertise in cold atom science, ColdQuanta will partner with Swinburne University of Technology to bring world-class quantum capabilities to Victoria, connect the research community with industry and create opportunities for the development of jobs and economic growth.
It will provide a gateway to the wider quantum community from other universities and strengthen Australia’s sovereign capacity in quantum technology.
The investment will finance:
Australia’s national science agency, CSIRO, estimated that Australia’s quantum technology industry has the potential to support 19,000 new jobs and generate annual revenue of $6 billion by 2045.
One of the biggest challenges facing the quantum technology sector is the lack of skilled labour. ColdQuanta will work with Swinburne University of Technology to develop new programs to educate and train the next generation of workers to advance quantum information science, including STEM (science, technology, engineering, mathematics) and related fields.
Breakthrough Victoria invests A$29 million to accelerate quantum technology R&D in Victoria
“Quantum technology has the potential to transform many sectors, including the pharmaceutical, energy, finance, transport and communications industries,” said Grant Dooley, CEO of Breakthrough Victoria.
“Victoria’s innovative investment will accelerate R&D and commercialization in quantum technology, attracting more investment to Victoria.”
“The investment will create jobs and advance the development of world-class skills in quantum technology, while producing long-term sustainable returns for Victoria.”
ColdQuanta’s expansion to Victoria to expand local expertise in quantum technology
ColdQuanta CEO Scott Faris said: “Victoria’s investment in quantum will drive economic growth and ultimately competitive advantage for Australia.”
“Building this center will attract new opportunities to Victoria and bring the expertise needed to make the most of quantum technology. ColdQuanta is excited to be part of building quantum capabilities in, with and for Australia.”
“This partnership is an important milestone for ColdQuanta as it further expands our global presence and recognizes the technical leadership of our hardware and software products.”
Swinburne builds the next generation workforce to power the quantum revolution
Vice-Chancellor and President of Swinburne University of Technology, Professor Pascale Quester, said: “Swinburne’s global strengths in cold atom science and technology make us a natural partner for ColdQuanta as we work together to grow the industry quantum in Victoria”.
“By using atoms cooled to the lowest known temperatures in the universe, we are paving the way for a vast array of quantum technologies that can potentially revolutionize the world as we know it.”
“Working at the intersection of industry, research and investment, we’re excited to help improve and retrain the next-generation workforce needed to drive this revolution and bring people and technology together to build a better world.” said Professor Quester
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