Diraq awarded $3 million grant from the NSW Quantum Computing Commercialisation Fund

Diraq awarded $3 million grant from the NSW Quantum Computing Commercialisation Fund

Diraq, a leading innovator in quantum computing, has been awarded a $3 million grant from the NSW Quantum Computing Commercialisation Fund (QCCF) to progress its ground-breaking research and development program aimed at bringing ultra-powerful quantum computers into existence.

The QCCF is a competitive funding program administered by the Office of the NSW Chief Scientist & Engineer (OCSE) within Investment NSW, a division of the NSW Government Department of Enterprise, Investment and Trade (DEIT).

Diraq’s QCCF grant, selected following extensive peer review by a distinguished panel of experts, underscores the significant potential and promise of the company’s groundbreaking approach to building quantum computer processors using the same manufacturing process as today’s computer chips.

The QCCF, an initiative backed by the NSW Government, is designed to foster the commercialisation of quantum computing in Australia. The one-off $7 million fund provides financial support to quantum computing businesses, aiming to promote new and innovative quantum computing technologies and devices within NSW that will provide global benefit.

The $3 million grant will play a pivotal role in advancing Diraq’s technical roadmap, enabling the company to propel its research and development efforts forward. With this funding, Diraq will leverage the its foundational patent set, consisting of 10 patent families, to commercialise and deliver their first product – a 10-qubit silicon quantum processor.

“We are delighted to receive this highly competitive grant from the NSW Government,” said Diraq’s CEO and Founder, Professor Andrew Dzurak. “This substantial financial support reinforces the confidence and trust the State Government has in our vision and capabilities. It will be instrumental in driving our quantum computing initiatives and accelerating the pace of innovation within our industry.”

The support from the New South Wales Government exemplifies the commitment to fostering quantum technology advancements by both State and Commonwealth Governments in Australia. By providing substantial funding and resources to Diraq and other leading NSW-based quantum computing companies, the Government is demonstrating its dedication to positioning NSW and Australia as a leader in the global quantum computing ecosystem.

“This grant represents a significant milestone for Diraq, and we are excited to drive innovation, create high-skilled jobs, and collaborate with other NSW based companies including Q-CTRL and Perceptia Devices. Overall the project will contribute to the advancement of quantum technologies in the state, further establishing Sydney as a global hub for quantum computing,” said Dzurak.

Diraq remains dedicated to pushing the boundaries of quantum computing and developing practical solutions that will revolutionise industries such as finance, healthcare, logistics, and cybersecurity. With this significant grant from the QCCF, the Company is poised to accelerate its mission and solidify its position as a frontrunner in the rapidly evolving global quantum computing industry.