The State of Australian Quantum report celebrates Australia’s early achievements on the journey to be a leader of the global quantum industry by 2030. It reflects the determination and hard work across the quantum ecosystem, driving continued growth in Australia’s quantum industry.
It is a great pleasure to be able to document and share Australia’s quantum achievements since the launch of the National Quantum Strategy in May 2023.
We have a solid foundation in quantum research and development and our past 15 months attest to this. Our universities and research institutions are innovating to support future commercialisation of quantum technologies. Australian businesses are competing with the world’s best.
We have taken immediate steps to secure Australia’s leadership in quantum, including:
- investing $18.4 million to create Quantum Australia, to grow Australia’s quantum ecosystem
- investing $15 million in Silicon Quantum Computing’s Series A round to support the development of a quantum computer using silicon-based hardware
- earmarking $1 billion for critical technology companies including quantum companies through the National Reconstruction Fund
- committing $36 million to critical technologies challenges, driving real world use cases for cutting edge quantum technologies
- investing $470 million in equity and loans in PsiQuantum together with the Queensland Government to build its world first utility scale fault tolerant quantum computer in Brisbane, Australia and anchor industry growth onshore.
Step changes in computing, sensing and communication could deliver productivity gains across a wide range of industries. Quantum technologies will help us address the challenges we will face in the coming decades, like transitioning to net zero, discovering new drugs, and pioneering new treatments for disease.
Since the launch of our strategy, governments around the world have joined Australia in recognising the importance of building national quantum capability. Quantum is on the path to becoming a multibillion-dollar industry that could provide multitrillion-dollar benefits to the wider global economy. Australian companies are already leading record-breaking capital raising rounds. Bold action ensures Australia can be a frontrunner in the emerging global quantum marketplace.
This is not an area where we should be content to rely on the market to meet our needs. Instead, we should foster the growth of an onshore deep technology industry that spurs job creation and greater economic complexity. Australia is perfectly positioned to build a thriving quantum industry as a trusted international partner with a highly respected quantum workforce.
Australian quantum talent is leading companies and initiatives all over the world and here at home. None more so than our Chief Scientist, Dr Cathy Foley AO PSM, who has been a tireless and highly respected advocate for Australia’s quantum potential. I want to thank her for all her work, developing the National Quantum Strategy, advising government and establishing industry events like the Quantum Meets series.
The Albanese Labor government is determined that Australia retains its competitive edge. Together, we will ensure Australia is a hub for quantum industries for years to come.