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New investment in Australia’s quantum technology industry

Shortly before announcing the joint statement of intent with the US government over quantum technology, the Australian government announced its own key measures to grow Australia’s quantum industry.

The government is investing in a Quantum Commercialisation Hub to:

  • form strategic international partnerships
  • commercialise Australia’s quantum research
  • help Australian businesses access new markets and investors.

It is also funding a National Quantum Strategy to outline Australia’s vision for the quantum industry. Australia’s Chief Scientist Dr Cathy Foley will guide the strategy as chair of the National Committee on Quantum. Committee members will include industry and academic experts.

This investment aims to support the development, commercialisation and adoption of quantum technologies in Australia.

Quantum is one of 9 technologies for initial focus in the government’s Blueprint and Action Plan for Critical Technologies. The government also highlighted quantum as a key emerging technology in the Digital Economy Strategy.

Advances in quantum may improve Australia’s:

  • communication networks
  • defence and national security capabilities
  • mining and manufacturing precision sensors
  • quantum computing capacity.

Growing Australia’s quantum industry has the potential to add $4 billion and 16,000 new jobs to the economy by 2040.

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