Feds award millions to Coquitlam-based quantum computer company 

In an effort to keep Canada’s top quantum technology talent in the country, the federal government has awarded money to four tech firms including a Coquitlam-based company.

Photonic Inc., a company that is developing commercial-scale quantum computers and quantum networks, will receive up to $23 million as part of the first phase of the Canadian Quantum Champions Program (CQCP).

“Canada’s investment in the Canadian Quantum Champions Program is a bold step to anchor our world-class talent and companies here at home, helping drive innovation in a field that will transform our economy and daily lives” stated Evan Solomon, Minister of Artificial Intelligence and Digital Innovation, in a press release.

The Canadian government is banking on the quantum sector, which is projected to contribute $17.7 billion to the country’s GDP and create 157,000 jobs by 2045.

On Photonic’s website, it states that it is: “building the world’s first commercial-scale, fault-tolerant quantum computer.”

“Quantum computing isn’t just an incremental step; it’s a technology that will redefine how we solve the world’s hardest problems. From modeling complex molecules to securing global communications, its impact will be profound,” stated Paul Terry, Photonic’s CEO, in a release.

“We’re designing systems that make this future possible – systems that scale, connect, and bring quantum into the real world,” he added.

The National Research Council of Canada will assess each company’s technical process.

What is quantum technology?

Quantum technology is based on the laws of physics for sub-atomic particles, and is used in semiconductors in phones and other devices.

Today, companies and research institutions are applying it to quantum computing, where it has the potential to solve complex problems much faster than what current supercomputers can achieve.