{"id":1823,"date":"2022-09-15T14:14:20","date_gmt":"2022-09-15T14:14:20","guid":{"rendered":"https:\/\/leyton.majjane.agency\/ca\/post\/regional-quantum-initiative\/"},"modified":"2022-09-15T14:14:20","modified_gmt":"2022-09-15T14:14:20","slug":"regional-quantum-initiative","status":"publish","type":"article","link":"https:\/\/leyton.com\/ca\/en\/insights\/articles\/regional-quantum-initiative\/","title":{"rendered":"Regional Quantum Initiative"},"content":{"rendered":"
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Quantum technologies<\/a> are a relatively new field of research that can manipulate electrons, photons, and atoms to solve problems previously thought unsolvable. It has opened up exciting opportunities<\/strong> and exponential growth<\/strong> in various aspects of life: machine learning, logistics<\/a>, cybersecurity<\/a>, climate change<\/a><\/strong>, bringing greater efficiency<\/strong> and cost-effectiveness<\/strong> among these and other areas.<\/p>\n

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According to Quantum Technologies in Canada<\/em> published by Innovate UK<\/em>, Canada is positioning itself as a world leader<\/strong> in quantum science and technology, and its commercialization and industrialization. To achieve these goals, the National Research Council of Canada <\/em>(NRC), the Natural Sciences and Engineering Research Council of Canada <\/em>(NSERC) and the Canadian Institute for Advanced Research<\/em> (CIAR) have coordinated to launch Quantum Canada<\/em>, to “provide a coherent vision for Canada’s national interests in quantum and to ensure that Canada maintains and expands its current advantage in this emerging sector<\/strong>.”<\/p>\n

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To help companies develop, create and commercialize quantum solutions, many federal agencies and provincial programs<\/a> contribute sources of funding and guidance to these companies, including the Natural Sciences and Engineering Research Council<\/em> (NSERC), the Industrial Research Assistance Program <\/em>(IRAP), the Canadian Institute for Advanced Research<\/em> (CIRA), the Canada First Research Excellence Fund<\/em> (CFREF), etc.<\/p>\n

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Regional Quantum Initiative: The Program<\/strong><\/p>\n

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As part of the Government of Canada’s ongoing effort to invest in quantum science and technology in order to develop a National Quantum Strategy<\/strong> (NQS) and to stimulate business efforts to develop commercially valuable quantum solutions, the Federal Economic Development Agency for Southern Ontario<\/em> (FedDev) has launched a program called the Quantum Regional Initiative<\/a><\/strong> (QRI). The agency is providing more than $23 million over six years<\/strong> to help eligible companies advance and commercialize their quantum products and solutions for domestic and global markets.<\/p>\n

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Type of financing available<\/strong><\/p>\n

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The funding is an interest-free loan available under this program totaling $23 million. Eligible applicants can receive between $500,000 and $5,000,000 million that is fully repayable 1 year after project completion<\/strong>. Applicants must secure a minimum of 50% of eligible project costs<\/strong>, such as labor, expertise, talent, intellectual property, and equipment costs, which must be reasonable and directly related to eligible project activities.<\/p>\n

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Applicant Eligibility:<\/strong><\/p>\n

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To be eligible for the IQR program<\/em>, an applicant, if it is a small or medium-sized enterprise (SME), must be :<\/p>\n

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