September 2024
Elevate Quantum Awarded $127M to Secure US Leadership in Quantum Tech
Elevate Quantum announced that it has received a Tech Hub Phase 2 Implementation award from the Department of Commerce, unlocking more than $127m in new federal and state funding. The award is expected to drive more than $2bn in additional private capital and cement the Mountain West as a global leader for quantum innovation.
“This award marks the first large-scale, place-based federal investment in quantum. We are honored to be acknowledged as a driving force in the global race for quantum innovation, and this funding marks a critical milestone in securing U.S. quantum leadership. We thank our partners, consortium members, and the EDA for making this happen,” said Zachary Yerushalmi, CEO of Elevate Quantum. “The Mountain West is home to the largest regional coalition of quantum leaders in the world; this funding cements our status as the capital of quantum and supports us in building a thriving future for all Americans.”
From The Governor
“Colorado is the center of the quantum technology ecosystem...”
“This decision shows that America is serious about being a global leader in quantum technology, the future of computing. Colorado is the center of the quantum technology ecosystem and we are thrilled that the Biden Administration is supporting our work to develop the best minds, research, and innovation in the country. Our region has always played a critical role in advanced technology and we’re proud to be supporting these efforts through a state investment of $74 million that was conditional on this federal award and will now be activated. I want to thank Senators Bennet and Hickenlooper, and Congressman Neguse for their hard work in helping bring these funds to Colorado. This federal and state investment will accelerate our work and help ensure the future of computing is developed and built right here in Colorado.” – Colorado Governor Jared Polis
Quantum Nation
Forbes: Colorado Takes The Lead In Quantum Technologies
Nestled among the vast plains and mesas of the Mountain West and in the shadow of the great Rockies, the future is being created. Colorado has emerged as the global epicenter of the quantum revolution—the next generation of computing power that has the potential to leave today’s technology in the dust.
Recent federal funding to the tune of $40 million, state tax credits of $74 million, and an estimated $1 billion in private capital, codifies the region’s designation as a quantum technology hub. Local leaders expect an economic windfall, creating new businesses and thousands of jobs within just a few years.
More boldly, Colorado may be positioned to help lead the greatest technological leap humankind has ever seen.
Quantum Impact
Boulder’s Quantum Leap – Leading The Charge in Tomorrow’s Technology
“Boulder boasts Nobel Prize-worthy scientific research, a deep talent pool and a thriving ecosystem of local companies deeply embedded in quantum technology. This synergy places us squarely at the forefront of the quantum revolution.” – Boulder Chamber, VP of Economic Vitality Joseph E Hovancak.
News & Articles
After Tech Hubs win, Elevate Quantum plots another $100M-plus bid, with focus on NM – Albuquerque Business First
Polis meets with Japanese ambassador in push to grow aerospace, quantum – Yahoo! & KDVR
Biden administration provides $504 million to support 12 technology hubs nationwide – Associated Press
EDITORIAL: Colorado cultivates a quantum future – Denver Gazette
Colorado scores win in race to become global hub for quantum technology – CBS News Colorado
Colorado Quantum Tech Hub getting $40.5 million infusion of federal funds – Colorado Public Radio
Public Investment Bolsters Colorado Push to Be Quantum Hub – Government Technology
Colleges Are Featured In 12 Tech Hubs Awarded $504 Million From Feds – Forbes
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