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ATSE Welcomes Large Quantum of Technology Investment for Queensland

The Australian Academy of Technological Sciences and Engineering (ATSE) welcomes the announcement of a new, almost $1 billion quantum computing investment in Queensland, announced today by Prime Minister Anthony Albanese and Minister for Industry and Science Ed Husic along with Queensland’s Premier Steven Miles. The investment is equally co-funded by the Federal and State Governments.

This funding will enable technology start-up company PsiQuantum to establish its Asia-Pacific headquarters in Brisbane and build the world’s first fault tolerant quantum computer, advancing the local quantum industry and creating 400 jobs and supporting PhD positions. Fault tolerance is the next step in the development of useful, practical quantum computers, heralding the arrival of new computing capabilities in Australia in coming years.

As stated in ATSE’s submission to the National Quantum Strategy, growing the Australian quantum industry requires supporting four interrelated areas: basic research, infrastructure, talent and business activity.

ATSE CEO Kylie Walker said today’s landmark announcement will supercharge these areas and enable Australia to build on its early quantum computing success.

“ATSE’s response to the National Quantum Strategy called out the then-unmet need for the Australian Government to back the strategy with public funding. Today’s investment in PsiQuantum and the research, technology and manufacturing industry that will grow around it will enable the Australian quantum industry to become an international leader.

“We applaud the Australian Government and Queensland Government for responding to our calls for large-scale quantum investment through the National Quantum Strategy consultation process, and investing in building technology-forward Australian industry,” said Kylie Walker.

Today’s announcement follows the Australian Government’s announcement of $18.4 million for the University of Sydney to establish Quantum Australia to foster critical collaborations and encourage the creation and growth of quantum startups.

Fellows of the Academy such as Professor Michelle Simmons AO FTSE FAA FRS, Professor Andre Luiten FTSE and Professor Elanor Huntington FTSE are at the forefront of Australia’s quantum industry.

These initiatives, along with the Global Science and Technology Development Fund – Strategic Element grants scheme (GSTDF) which has quantum computing as a key priority area, are placing Australia at the forefront of this emerging technology, and supporting a strong innovation culture to secure Australia’s economic resilience.

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