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Australia's quantum leap: $20m boost for homegrown firm
The $20 million investment supports Diraq's goal to commercialize quantum computing technology by 2029 and could generate $2.2 billion and 8,700 jobs in Australia by 2030, CSIRO said.
- The National Reconstruction Fund Corporation revealed on Tuesday that Australian taxpayers are investing $20 million in Sydney-based Diraq, with the fund taking a major stake to help lead quantum innovation.
- National Reconstruction Fund chief executive David Gall said further investments are vital to ensure Australia plays a role in global quantum development, with CSIRO projecting $2.2 billion by 2030 and $5.9 billion by 2045.
- Using modified chip-making techniques, Diraq aims to have a commercial quantum computer assembled in Sydney by early 2029, employs 60 people, and spun out of the University of New South Wales.
- The funds will allow Diraq to expand its local team and provide more 'high-paying, exciting jobs' in Australia, while backers highlight quantum's role in accelerating drug discovery and engineering breakthroughs.
- Amid a wave of sector funding, industry sources warn of heat dissipation and silicon procurement challenges, though Diraq's inclusion in the US government Quantum Benchmarking Initiative signals confidence.
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12 Articles
Diraq Secures $20M AUD ($14M USD) NRFC Investment for Silicon Quantum Commercialization
Diraq has secured a $20 million ($14 million USD) equity investment from the National Reconstruction Fund Corporation (NRFC) to support the transition of its silicon-based quantum computing research into commercial production. The funding is intended to anchor advanced manufacturing in Australia and accelerate the development of hardware designed for integration with existing data center infrastructure. [...] The post Diraq Secures $20M AUD ($14…
NRF tips $20 million into Diraq for homegrown quantum computing
Diraq plans to launch its first quantum computing product in early 2029, founder Andrew Dzurak said, and would assemble the product in Sydney. The post NRF tips $20 million into Diraq for homegrown quantum computing appeared first on SmartCompany.
Coverage Details
Total News Sources12
Leaning Left3Leaning Right3Center1Last UpdatedBias Distribution43% Left, 43% Right
Bias Distribution
- 43% of the sources lean Left, 43% of the sources lean Right
43% Right
L 43%
14%
R 43%
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