Quantum Australia Valuates Programs at AUD $83.1 Million, Supports 15 Startups
Quantum Australia’s independent assessment quantifies its programs at AUD $83.1 million over two years, facilitating the creation of 15 new quantum companies. The findings underscore Australia's growing quantum sector, indicating a direct economic return of AUD $2.15 for each AUD $1 invested, potentially rising to AUD $6.87 when considering broader impacts.
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Quantum Australia has been assessed to have mobilized AUD $83.1 million through its national programs, resulting in the establishment of 15 quantum startups in a two-year period. The evaluation, conducted by Avant Group, examined net present value over five years and included grant funding, private investment, and commercial contracts.
The organization has also reported 110 partnerships, over AUD $50 million in grants, and more than AUD $56 million in industry research contributions. The startup pipeline has expanded significantly, with six ventures highlighted, including FeBI Technologies and QFactorial.
Australia's National Quantum Strategy aims for the country to lead globally in quantum technology by 2030, with government backing of AUD $940 million for a fault-tolerant quantum computer project. Quantum Australia has created a network of 4,100 professionals and is witnessing increased international interest, particularly from Japan. The establishment of a new team in Canberra aims to enhance collaboration across the nation.
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