Federal Government Commits to Funding Quantum Technology Research at the University of Alberta
The University of Alberta has received funding for its research into quantum technology through the Canada Foundation for Innovation (CFI). The research is being led by physicist John P. Davis, whose team is developing quantum transducers. These transducers carry quantum information across systems, a process which usually requires extremely low temperatures. Davis hopes the process will soon be possible at more practical temperatures, allowing the team to develop such innovations as the “quantum internet”. The research requires extremely advanced materials which will be acquired using the $5.2 million of CFI funding.
Canada’s quantum technology industry is expected to grow to $8.2 billion by 2030, employing 16,000 people. Davis believes that this investment into quantum technology research will aid in the diversification of Alberta’s future. He is also preparing for this future growth of the quantum technology industry through his involvement in the Quanta program. Quanta trains graduate students in emerging quantum technologies, innovation, management and entrepreneurship. This is in the hopes that Canada will be able to be a global leader in the Quantum Age.
Prime Minister Justin Trudeau explains that such investments in research and development will be pivotal for the future opportunities afforded to Canadians. Accordingly, the CFI is providing $24.1million to the University of Alberta as part of the $518 million of funding being distributed across the country at various post-secondary institutions and research hospitals. The Government of Canada also supports innovation through its Scientific Research and Experimental Development (SR&ED) tax incentive. The program encourages Canadian businesses to conduct R&D in the country. To learn more about the SR&ED tax incentive for your company, try our eligibility quiz.