Tausi Insider

A view of part of the development laboratory of Toronto-based tech company Xanadu Quantum Technologies Inc. on May 30, 2022. Galit Rodan/Tausi Insider Ottawa has unveiled its plan for spending $360-million on a national strategy to prepare for and profit from a coming revolution in quantum technology. While the early reviews are positive, leaders in the field say there is no time to lose as new developments in the field inch ever closer to upending key aspects of the computer industry, with game-changing implications for the entire economy. The federal government first allocated the money in 2021 to be spent over seven years. “Top to bottom there’s been a lot of movement,” said Stephanie Simmons, a researcher at Simon Fraser University and founder of the B.C.-based quantum technology company Photonic Inc. “The hardware is making progress, the software is making progress, the user cases are being developed.” Dr. Simmons was among those standing alongside federal Innovation, Science an...

Prime Minister Justin Trudeau is set to announce a $40-million contribution Monday to a Toronto startup that has vaulted to the lead in the global race to develop superpowerful quantum computers, according to a person familiar with the situation. The government is providing the funding to Xanadu Quantum Technologies Inc., one of many companies around the world that is trying to build computers in a new way, by harnessing the ephemeral properties of subatomic particles to perform calculations that would take current supercomputers millennia to run. The Globe is not identifying the source because they were not authorized to discuss the matter publicly. The funding, through the government’s Strategic Innovation Fund (SIF) comes less than two weeks after the Liberal government unveiled spending plans for its $360-million seven-year national quantum strategy. The initiative is one of myriad efforts it has undertaken since coming to power in 2015 to try to drive improvements to Canada’s ch...