US EditionIonQ Stock Slips As Canada Rolls Out C$92M Quantum Computing Funding Plan - IonQ (NYSE:IONQ)
Phase one funds up to C$23 million each to four firms to develop fault-tolerant quantum computers for industry and defence, part of a C$334.3 million five-year federal investment.
- On Monday, Innovation, Science and Economic Development Canada launched the Canadian Quantum Champions Program, committing up to $92 million to fund four Canadian-headquartered technology companies.
- As part of Budget 2025, Ottawa tied the program to longer-term quantum investments, aiming to accelerate fault-tolerant industrial-scale quantum computers for defence, security, medicine, energy and computing.
- Phase one provides up to $23 million to each selected company, with Photonic Inc., Xanadu Quantum Technologies Inc., Anyon Systems Inc., and Nord Quantique receiving funding and NRC setting up a Benchmarking Quantum Platform.
- The government framed the investment as a signal of support for domestic firms, Canada said it will help attract talent and advance research while increasing public investment in non-U.S. quantum developers.
- There is debate over whether Canada should match DARPA's QBI, as some industry observers warned it may require relocation or IP sharing, but three Canadian companies say they have not faced such demands, according to Ottawa officials.
14 Articles
14 Articles
Electronic Products & Technology
Photonic Inc. selected for Canadian Quantum Champions Program
Photonic Inc., a global leader in distributed quantum computing, has been selected for Phase 1 of the Canadian Quantum Champions Program (CQCP), which provides up to $23M in funding to Photonic. The program recognizes the strategic importance of quantum technologies to Canada’s economic competitiveness and national security and is designed to accelerate the development of Canadian quantum, focusing on fault‑tolerant quantum computers and anchori…
The Manila Times
dailyguardian.caPhotonic Inc. Selected for Canadian Quantum Champions Program
Phase 1 of a new Government of Canada initiative aimed at accelerating the development of fault-tolerant quantum computing Photonic Inc. Photonic Inc. is a leading quantum...
Nord Quantique's CA $23M (US $16.7M) CQCP Win Paves Way for Over US $30M in Total Government Contracts
Nord Quantique, a Canadian quantum computing manufacturer specializing in highly efficient quantum error correction, has been awarded a contract of up to CA $23 million (US $16.7 million) from the Government of Canada. This major funding is part of the newly launched Canadian Quantum Champions Program (CQCP), a national initiative designed to anchor quantum companies [...] The post Nord Quantique’s CA $23M (US $16.7M) CQCP Win Paves Way for Over…
Western Investor
BIV NewsNew federal initiative aims to boost Canada’s quantum computing industry
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