Minister Ed Holder and MP Peter Braid Announce Support of Quantum Research at Waterloo

WATERLOO, ON--(Marketwired - January 22, 2015) - The Honourable Ed Holder, Minister of State (Science and Technology) and Peter Braid, Member of Parliament for Kitchener-Waterloo, announced renewed support for the Institute of Quantum Computing (IQC) at the University of Waterloo today. 

The Economic Action Plan 2014 included an allotment of $15 million to IQC over three years. 

"Through our updated science, technology and innovation strategy, our government is making the necessary investments to push the boundaries of knowledge, create jobs and prosperity, and improve the quality of life of Canadians," said Ed Holder, Minister of State (Science and Technology). "This funding will help the Institute for Quantum Computing to continue attracting world-leading research talent and to increasingly translate new knowledge into innovative quantum-based technologies for the benefit of Canadians."

A multidisciplinary research institute with researchers from the Faculties of Science, Engineering and Mathematics, IQC's goal is to be the world leader in the field of quantum information science and to develop the technologies that will fundamentally impact the ways in which we work, communicate and live.

"Quantum computing has the potential to launch transformative technologies that will create new industries and generate a wave of leading-edge jobs in Waterloo Region's 'Quantum Valley,'" said Peter Braid.

Advances in quantum information research are beginning to transform not only computing, but information security and sensing technologies. This rapidly emerging industry -- quantum information technology -- will lead to continued success for Canada with the renewed support for IQC.

"We are pleased that Minister Holder and MP Peter Braid are here today to share the news of how they are helping the Institute for Quantum Computing, and really Waterloo Region, to take advantage of the full spectrum of opportunity quantum technologies present," said Professor Raymond Laflamme, executive director, Institute for Quantum Computing at Waterloo. "IQC research doesn't end in the laboratory. IQC is doing research that will make a difference in the way Canadians live their lives."

In 2009, the Government of Canada first partnered with IQC with an investment of $50 million. That funding matched Ontario's investment of $50 million, along with $100 million from Mike Lazaridis. With these investments, IQC has attracted international research talent, made significant discoveries and built a world-class centre for research in quantum technologies and its applications. 

FACTS:

• Established by the University of Waterloo in 2002 with funding from the Canada Foundation for Innovation, the Ontario Innovation Trust, and from Mike and Ophelia Lazaridis, IQC set out to be a world leader in the field of quantum research.
• In 2009, the Government of Canada committed $50 million over five years to further develop IQC. IQC has successfully leveraged this funding with additional private and public sector funding.
• Partnership has been further extended through the establishment by IQC's original benefactors of Quantum Valley Investments, an investment fund worth $100 million.
• IQC is a multidisciplinary scientific research institute at the University of Waterloo focused on harnessing the quantum laws of nature to discover and develop powerful new technologies that will transform information technology and drive the 21st century economy.
• IQC research bridges theory and experiments in quantum computing, quantum communication and other quantum devices through the collaboration of over 200 computer scientists, engineers, mathematicians, physical scientists and students.
• IQC trains a large number of graduate students and post-doctoral researchers in various programs and offers educational outreach activities that inspire scientific discovery in the realm of quantum mechanics.
• In 2006, the Government of Ontario invested $50 million in the Institute for Quantum Computing. This funding helped IQC leverage over $150 million in future funding.

About the University of Waterloo
In just half a century, the University of Waterloo, located at the heart of Canada's technology hub, has become one of Canada's leading comprehensive universities with 35,000 full- and part-time students in undergraduate and graduate programs. A globally focused institution, celebrated as Canada's most innovative university for 23 consecutive years, Waterloo is home to the world's largest post-secondary co-operative education program and encourages enterprising partnerships in learning, research and discovery. In the next decade, the university is committed to building a better future for Canada and the world by championing innovation and collaboration to create solutions relevant to the needs of today and tomorrow. For more information about Waterloo, please visit uwaterloo.ca.

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