Ontario’s Minister of Economic Development, Vic Fedeli, announced up to $14.9 million in funding for Quantum Valley Ideas Lab in Waterloo, Canada. This investment aims to propel advancements in quantum technology, particularly optimizing antennas in smartphones, vehicles, drones, and more. The funding, drawn from the Critical Technology Initiative Fund, underscores Ontario’s commitment to real-world challenges and commercialization in key tech sectors. Quantum Valley Ideas Lab, backed by Mike Lazaridis’ Quantum Valley Investments, serves as a crucial incubator for quantum startups. The lab’s efforts include developing a commercial-ready prototype for a radio frequency measurement device, a significant step towards market transition. Ontario’s investment will support graduate internships and accelerate quantum innovation commercialization. For additional details, refer to an article from the Waterloo Region Record here.
January 26, 2024