The National Reconstruction Fund Corporation (NRFC) has invested AUD$20 million in Silicon Quantum Computing (SQC), a company that is a global leader in quantum computing.
SQC is the only company in the world that can build quantum chips with extremely high precision. It also creates advanced AI-powered solutions for businesses and governments. In addition, it is one of the few semiconductor manufacturers in Australia.
SQC is leading a new wave of technology that could change industries like banking, defence, pharmaceuticals, and AI. According to the National Quantum Strategy, Australia’s quantum industry could grow to $6 billion and create around 19,400 jobs by 2045, showing its huge potential.
NRFC CEO, David Gall, said: “Silicon Quantum Computing is a leader in the field of silicon-based quantum computing, and we are proud to be investing in a company that creates highly skilled jobs, commercialises Australian innovation, and helps to build our sovereign quantum capability.”
“Australia leads the world in quantum computing, and SQC’s in-house manufacturing allows the company to iterate significantly faster, and with greater accuracy, than its competitors. This gives SQC a critical edge in forging the fastest and most cost-effective path to a commercial-scale quantum computer.”
SQC Founder & CEO, Michelle Simmons, said: “From day one, SQC’s mission has been clear: to build the world’s first commercial-scale quantum computer in silicon, right here in Australia. Our globally unique manufacturing capability gives us a decisive advantage in the global race, and NRFC’s investment allows us to accelerate that mission.”
SQC was founded in 2017 at UNSW Sydney by Michelle Simmons, a former Australian of the Year.
It is one of only 11 companies worldwide to reach Stage B of DARPA’s highly challenging Quantum Benchmarking Initiative (QBI).
Silicon Quantum Computing is working to build a large-scale commercial quantum system by 2033. With over 25 years of experience, the company has a strong advantage in the field.
It is the only company that can make silicon chips with extremely high precision at the atomic level. This helps it create advanced quantum computing systems and AI-powered chips with very high accuracy.
SQC also makes its own quantum processors (QPUs) in-house, allowing it to develop and test new chips every week. At the same time, it is already providing quantum machine learning and simulation solutions to customers today.
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