Wednesday, April 24, 2024

Victoria announces $8m quantum technologies investment in ANU spin-off

Victorian Minister for Industry and Innovation, Ben Carroll, today announced an $8 million investment in an innovative Australian quantum technologies business.

Minister Carroll said the investment in Quantum Brilliance – an Australian National University spin-off company – by the State’s investment arm, Breakthrough Victoria, would help to establish Victoria as a global player in the rapidly evolving quantum technologies sector.

“Quantum technologies have the potential to revolutionise industries that rely on computing power to solve complex problems and we’re investing to ensure world-leading research and advanced manufacturing happens right here,” said Mr Carroll.

Quantum computing is technology that allows problems too complex for normal computers to be solved. It typically requires a fixed set up in temperatures below freezing, making it hard for the technology to become portable.

The Minister said Victoria was one of the few jurisdictions in the world investing heavily in quantum computing research, and potential discoveries could lead to significant jobs growth in the cutting-edge industry.

Founded by scientists at Australian National University in 2019, Quantum Brilliance has developed the world’s first portable quantum computer that operates at room temperature. The company uses the crystalline structure of diamonds as an insulator against noise and temperature, allowing for more advanced computing.

The investment in Quantum Brilliance will support the company to expand its Melbourne operations and its extensive research partnerships with several Victorian universities, including plans for base fabrication and advanced manufacturing in Victoria as the company grows.

“By investing in companies like Quantum Brilliance and Infleqtion, we are building the framework for Victoria to be a global player in the revolution of quantum technologies,” said Breakthrough Victoria CEO, Grant Dooley.

It is Breakthrough Victoria’s second investment into the sector and its first in an Australian business.

“We see Victoria as a crucial launch pad for Australia in quantum technologies and a natural partner for Quantum Brilliance,” said Quantum Brilliance co-founder and Chief Science Officer, Dr Marcus Doherty.

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