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.

PARTNER

Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.

PARTNER

CTC Global Singapore, a premier end-to-end IT solutions provider, is a fully owned subsidiary of ITOCHU Techno-Solutions Corporation (CTC) and ITOCHU Corporation.

Since 1972, CTC has established itself as one of the country’s top IT solutions providers. With 50 years of experience, headed by an experienced management team and staffed by over 200 qualified IT professionals, we support organizations with integrated IT solutions expertise in Autonomous IT, Cyber Security, Digital Transformation, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Well-known for our strengths in system integration and consultation, CTC Global proves to be the preferred IT outsourcing destination for organizations all over Singapore today.

PARTNER

Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.

SUPPORTING ORGANISATION

SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

PARTNER

HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

PARTNER

IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.

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