Burnaby’s D-Wave Systems is getting $40 million from the federal government to help advance its efforts in the development of quantum computing.
The Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry, announced the contribution to D-Wave last week.
The funding comes from Ottawa’s Strategic Innovation Fund and will support a $120-million project to develop quantum computer hardware and software systems, ensuring that Canada remains at the forefront of quantum technology development.
The project will help D-Wave further the advantage of quantum technology over classical computers by enhancing the processing capabilities and computing power of its current systems. To reach this objective, the company will develop a new and more powerful quantum processor and provide additional advancements for its quantum computers.
Through this project, D-Wave commits to creating and maintaining up to 200 jobs, employing up to 10 co-op students annually, and spending more than $480 million on R&D.
D-Wave will also provide quantum computing access to qualified members of the quantum computing ecosystem in Canada to encourage its development.