$111 Million To Back Australia’s Quantum Future

Prime Minister of Australia Scott Morrison, on 17th November 2021, released the Blueprint and Action Plan for Critical Technologies and identified quantum technology as one of the Government's nine technologies for initial focus. The Government is investing $111 million to secure its quantum technology future, adopt and use the technology, support commercialization, and businesses, and keep the citizens safe.

The investment includes $70 million for Quantum Commercialization Hub to form strategic international partnerships, commercialize Australia's quantum research, and help businesses access new markets and investors. The Australian Government is also funding a National Quantum Strategy to outline a vision for quantum technologies.

Advances in quantum may improve Australia's defense and national security capabilities, communication networks, mining and manufacturing precision networks, and quantum computing capacity. The growth, commercialization, and adoption of the quantum industry can add $4 billion in finances and create 16,000 new jobs by 2040.

Australia's Chief Scientist Dr. Cathy Foley will be the chair of the National Committee on Quantum and guide the Quantum Strategy. The other members of this committee will include industry and academic experts.