The federal government is giving $20 million to Quantum Valley Ideas Lab, a non-profit research facility, via its regional development agency for southern Ontario. Local startups Cognitive Systems, High Q Technologies and Isara will receive $7.3 million, $6.5 million and $7.2 million, respectively, from the Strategic Innovation Fund. (The Logic)
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The federal government is giving $20 million to Quantum Valley Ideas Lab, a non-profit research facility, via its regional development agency for southern Ontario. Local startups Cognitive Systems, High Q Technologies and Isara will receive $7.3 million, $6.5 million and $7.2 million, respectively, from the Strategic Innovation Fund. (The Logic)
Talking point: The government is following the lead of one of Canada’s most successful tech entrepreneurs: Mike Lazaridis. The co-founder and former co-CEO of Research in Motion (now BlackBerry) has backed the lab and the startups via Quantum Valley Investments, the fund he co-manages. Lazaridis has said quantum technology—essentially a much faster computer—could turn Kitchener-Waterloo into a true rival to Silicon Valley. But Ottawa isn’t concentrating its quantum bets in Ontario. In June 2018, Burnaby, B.C.-based D-Wave Systems received $10 million from a federal cleantech fund.
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