Surrey Board of Trade Applauds Today’s Federal Government $2.2 Million Investment for SFU Quantum Algorithms Institute

Today, the Federal Government announced a $2,210,000 investment to support the establishment of the Quantum Algorithms Institute (QAI) to accelerate the innovation and commercialization of quantum technologies at Simon Fraser University, in Surrey, British Columbia.

“The Surrey Board of Trade looks forward to working with SFU and the Quantum Computing Institute as they are a key partner in accelerating and commercializing technology solutions, job creation, competing in global markets and creating a highly skilled talent pool for today’s challenges,” said Anita Huberman, CEO, Surrey Board of Trade.

In September 2019, the Surrey Board of Trade was a part of the media announcement with BC Premier John Horgan on their $17 million commitment to SFU’s Surrey Quantum Institute.

The Quantum Algorithms Institute, hosted at Simon Fraser University’s Surrey campus, will be a collaborative centre aimed at attracting unique industry partnerships, growing a world leading talent pool, and developing commercial applications and adoption of quantum technologies. The Institute will use the funds to renovate a state-of-the-art physical hub to facilitate engagement, host collaborative events between industry and academia, organize quantum technology conferences for local and international players, and promote collaboration between existing quantum companies and potential new customers.

A new generation of optical and electronic devices use quantum effects to significantly enhance the performance over that of existing technologies. For example, quantum computers will be able to solve problems that the largest classical supercomputers would take thousands of years to solve, but in a fraction of the time. This technology will have significant impacts across many sectors including manufacturing, natural resources, finance, engineering, healthcare, defence, transport, telecommunications and life sciences.

This funding is expected to result in training for at least 100 highly qualified personnel, bringing two quantum technologies to market, and helping 10 businesses adopt quantum technologies.