February 26, 2024

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Victoria Invests in Quantum Tech

Australia’s emerging field of quantum technologies is receiving an investment from the Andrews Labor Government, further enhancing Victoria’s reputation as a global player in this sector. The Minister for Industry and Innovation announced that the state’s investment arm, Breakthrough Victoria, will invest AU$ 8 million in a start-up from Australian National University. This move is part of the government’s efforts to position the state as a major player in the fast-growing quantum technologies sector on a global scale.

Quantum computing is a type of technology that enables the solution of problems that are too complex for traditional computers to handle. This technology usually requires a stable setup at extremely low temperatures, which makes it difficult for the technology to be made portable.

The technology of quantum computing has shown promising potential for use in various practical applications such as medical imaging, satellite communication, and robotics. By investing in this field, Victoria has positioned itself as a global leader in utilising this transformative technology to address complex real-world problems.

The advancement in quantum computing technology has opened up new opportunities for innovation and progress, making it a critical area for research and development. As such, Victoria’s investment in this technology reflects the state’s commitment to staying at the forefront of technological advancements and driving the future of industries.

Victoria is among the few jurisdictions worldwide that are making substantial investments in quantum computing research. The potential discoveries resulting from this investment hold tremendous promise and could lead to significant job growth in the cutting-edge industry.

As this technology continues to evolve, there is a growing need for skilled professionals who can innovate and lead in this field. By positioning itself at the forefront of this technology, Victoria is creating new opportunities for its workforce and driving the growth of a knowledge-based economy. The state’s investment in quantum computing underscores its commitment to fostering innovation and driving the future of industries.

The start-up was founded in 2019 by scientists at the Australian National University and has since developed the world’s first portable quantum computer that can operate at room temperature. The company’s unique approach involves using the crystalline structure of diamonds as an insulator against noise and temperature, enabling more advanced computing.

This breakthrough in technology has the potential to revolutionise the way quantum computing is used, making it more accessible and practical for a range of industries. The start-up’s innovation is a testament to the significant progress being made in quantum computing research and the potential it holds for solving complex problems in various fields.

The investment in the start-up will facilitate the expansion of the company’s Melbourne operations, research partnerships with Victorian universities, and the establishment of base fabrication and advanced manufacturing facilities in Victoria. This investment reflects Victoria’s commitment to driving innovation and developing a knowledge-based economy.

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

The Minister for Industry and Innovation stated that investing in quantum technologies enables revolutionary advancements in industries that require computing power to solve complex problems. Victoria’s investment in this field supports world-leading research and advanced manufacturing in the state. The Member for Bundoora stated that the innovative research being conducted in Bundoora has the potential to place Victoria at the forefront of global technology and innovation.

Meanwhile, Breakthrough Victoria said that through investments in companies like the aforementioned start-up, Victoria is laying the foundation to become a major player in the quantum technologies revolution on a global scale. The Co-Founder and Chief Science Officer at the start-up noted that Victoria is considered a crucial launch pad for Australia in quantum technologies and a natural partner for the company, according to industry experts.


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