Government of Canada invests in quantum sector with support for Quantino business incubator
CED grants $1,235,000 in financial assistance to the National Optics Institute to strengthen Quebec's quantum ecosystem.
QUÉBEC, March 11, 2024 /CNW/ - Canada Economic Development for Quebec Regions (CED)
Supporting the development, adoption, and commercialization of quantum technologies helps to position Quebec's organizations in this emerging area, while also reinforcing Canada's leadership globally. That is why the Honourable Jean?Yves Duclos, Member of Parliament for Québec and Minister of Public Services and Procurement, and the Honourable Pablo Rodriguez, Minister of Transport and Quebec Lieutenant, today announced, on behalf of the Honourable Soraya Martinez Ferrada, Minister of Tourism and Minister responsible for CED, a non?repayable contribution of $1,235,000 for the National Optics Institute (INO). This CED support over three years (2023?2026) will cover employee salaries, professional fees, and outreach activities in order to provide guidance adapted to the specific needs of start?ups in the quantum sector.
Quantino is a deep tech incubator in the optics, photonics, quantum, and medical technologies sectors, created in 2020 by INO, the largest centre of expertise in optics and photonics in Canada. Its team accompanies emerging businesses by giving them access to frontline infrastructure, cutting?edge equipment, and world-renowned expertise. CED's assistance will enable it to strengthen its capacity to support the creation and launch of businesses that develop, adopt, or commercialize quantum technologies with an intensive hardware component.
To support Canada's quantum sector and solidify the country's position among the leaders in this fast?growing field, the Government of Canada has developed a National Quantum Strategy. The goal of the Strategy is to help Canadian businesses adopt quantum technologies so that they can position themselves in this emerging field and generate economic benefits for the entire community.
"When we support our businesses and help them equip themselves so they can remain competitive, we are supporting our workers, our communities, and our economy. This is what we are doing with the National Optics Institute in Québec. Thanks to this financial contribution from CED, INO will continue to develop novel solutions to support innovation among Quebec and Canadian businesses, so they can position themselves in the global economy."
The Honourable Jean-Yves Duclos, Member of Parliament for Québec and Minister of Public Services and Procurement
"When we invest in science and innovation, we are investing concretely in our well-being and prosperity. Quantum science is the future. By supporting innovation in this field, we are ensuring that homegrown businesses are at the heart of tomorrow's economy. With projects like the Quantino incubator at the Institut national d'optique of Québec, we are also helping to accelerate the growth of Quebec's small businesses, to stimulate innovation, and to create wealth here at home."
The Honourable Pablo Rodriguez, Minister of Transport and Quebec Lieutenant
"Our government is committed to creating a strong economy focused on innovation. That is why I am delighted with CED's support for INO and its quantum incubator, which will make it possible not only to support the growth and creativity of homegrown businesses, but also generate wealth across Quebec and Canada. Congratulations to Mr. Chandonnet and the entire team at the Quantino incubator!"
The Honourable Soraya Martinez Ferrada, Minister of Tourism and Minister responsible for CED
"The support announced by CED will enable Quantino to accompany even more start?ups that will revolutionize the industries of tomorrow so they can reach the commercialization stage, manufacture at home, and export around the world."
Alain Chandonnet, President and CEO, INO
- Funding has been provided under CED's Support for Regional Quantum Innovation initiative, which stems from the Government of Canada's National Quantum Strategy.
- This initiative has a budget of $23.3 million to be used to make strategic investments between now and 2028 designed to help SMEs and NPOs adopt, develop, and commercialize quantum technologies and products based on these technologies.
- CED is the key federal partner in Quebec's regional economic development. With its 12 regional business offices, CED accompanies businesses, supporting organizations, and all regions across Quebec into tomorrow's economy.
- National Optics Institute
- Canada's National Quantum Strategy
- Support for Regional Quantum Innovation
- CED funding initiatives and programs
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SOURCE Canada Economic Development for Quebec Regions
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