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D-Wave receives $40 million from federal government for quantum computing tech
Burnaby, BC-based D-Wave Systems has secured $40 million from the Government of Canada to support its quantum computing systems and software.
The funding is set to be announced Thursday afternoon by the recently appointed Minister of Innovation, François-Philippe Champagne.
The $40 million in government funding comes in the form of Strategic Innovation Fund (SIF) financing. It will support a $120 million project D-Wave is working on to develop quantum computer hardware and software systems.
The goal behind the government capital and project is to ensure Canada “remains at the forefront of quantum technology development” and help D-Wave prove the advantage of quantum technology over classical computers. The project has also received assistance from the Sustainable Development Technologies Canada program and the Government of British Columbia, though dollar figures were not disclose
After year of reset expectations, D-Wave secures $40-million from Ottawa for quantum computing theglobeandmail.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theglobeandmail.com Daily Mail and Mail on Sunday newspapers.