Science & Technology

Australia to invest $81 million in quantum technology

Sydney, Australia, Nov 17 (EFE).- The Australian government announced Wednesday that it will invest AU$111 million ($81 million) in quantum technology.

Part of the fund (AU$70 million) will go to creating a Quantum Commercialization Hub to promote research in this sector and establish links between global markets and supply chains, Australian Prime Minister Scott Morrison said.

He was confident that the project will attract investment and partnerships with allied countries.

“This investment will help secure future economic opportunities for Australian businesses, create local jobs and importantly, it will help keep Australians safe,” Morrison said in a statement.

He emphasized that his government has identified nine technologies for initial focus, including quantum.

Science and TechnologyMinister Melissa Price said that Australia now has an “important mission to commercialize our research, particularly given quantum technologies are increasingly vital for industries in key areas like defense and national security, as flagged in the recent AUKUS agreement.”

Price was referring to the defense pact signed in September between Australia, the United Kingdom and the United States to counter China in the Indo-Pacific region, and which includes the development of nuclear submarines for the Oceanian country.

Canberra estimates that the development, commercialization and adoption of quantum technologies will contribute about AU$4 billion to the economy and will create 16,000 jobs by 2040. EFE


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