Ontario invests $14.9M in Quantum Valley Ideas Lab

R+T Park tenant Quantum Valley Ideas Lab (QVIL), is receiving up to $14.9 million from the Government of Ontario to accelerate the development and adoption of quantum science technologies by Ontario companies.

Quantum Valley Ideas Lab is part of Mike Lazaridis and Doug Fregin’s Quantum Valley Investments, an incubator and investment fund designed to accelerate quantum technology startups. The Quantum Valley Ideas Lab is housed in Research Advancement Centre II, a 70,000-square-foot research building in the David Johnston Research + Technology Park at the University of Waterloo. The facility houses specialized equipment for the development and commercialization of quantum devices.

“Leaps in quantum science technologies will improve competitiveness, fuel innovation and drive economic growth across Ontario.”

Vic Fedeli, Minister of Economic Development, Job Creation and Trade, Ontario

“Leaps in quantum science technologies will improve competitiveness, fuel innovation and drive economic growth across Ontario,” said Vic Fedeli, Minister of Economic Development, Job Creation and Trade. “Our government is proud to support Quantum Valley Ideas Lab and its researchers as they unlock quantum science technologies that will help Ontario companies become more competitive in the 21^st century. Ontario’s cutting-edge innovation ecosystem continues to develop the technologies of the future and bring made-in-Ontario solutions to the world.”

Read the full release on the Government of Ontario’s website.