Grant: Canada First Research Excellence Fund

The University of Waterloo's Institute for Quantum Computing (IQC) is among the top-four quantum information centres in the world. Over the last 14 years, its bold agenda has attracted leading researchers who are advancing the field internationally. IQC's success and the rapid pace of quantum research advances have led to the envisioning of the next phase of Waterloo's leadership in quantum research. Transformative Quantum Technologies project will see the realization of three Grand Challenges of strategic importance to Canada - a prototype 100-qubit quantum computer; practical quantum sensors for medicine, materials characterization, navigation and environmental detection; and longdistance Quantum Key Distribution (QKD) for secure communication. The ensuing research will match the applications of quantum technologies with real-world problems and drive economic benefit for Canada in a $26B industry. The Waterloo region has become an international hub for science-based entrepreneurial development. Transformative Quantum Technologies builds on this foundation by combining excellence in research, substantial engagement by business and, almost uniquely in Canada, the involvement of an investment fund, Quantum Valley Investments, which will invest the capital and entrepreneurial knowhow needed to achieve our commercial and socioeconomic objectives. Quantum technologies are on the cusp of transforming technology as we know it. Laboratory tests have shown the precision and sensitivity of quantum devices is incomparable. Prototypes are showing the power of a quantum computer. IQC already boasts five start-up companies from its research. Now is the time to solidify Canada's lead in the quantum revolution and firmly establish Waterloo as Canada's Quantum Valley.