Province to invest more than $11.5 million to support theoretical physics and quantum computing
WATERLOO, ON, June 14 /CNW/ - The Ontario Government has committed more than $11.5 million to the Perimeter Institute and the University of Waterloo for projects that will support world-class institutes for theoretical physics and quantum computing, Deputy Premier and Minister of Education Elizabeth Witmer, MPP for Kitchener-Waterloo, announced today on behalf of Enterprise, Opportunity and Innovation Minister Jim Flaherty.
A $5.95-million investment, funded through the Ontario Research and Development Challenge Fund (ORDCF), will promote the framework for discovering, harnessing and commercialization of breakthroughs in theoretical physics at the Perimeter Institute. The investment will also support the establishment of an international research centre in the field of quantum computing and information processing at the University of Waterloo's Institute for Quantum Computing.
"Ontario must be in the forefront of scientific and technological innovation to remain competitive in a global marketplace," Flaherty said. "To that end, through the Challenge Fund, this government is investing $500 million over 10 years and will attract as much as $1.5 billion from private sector and institutional partners to support research and development across the province".
On behalf of the board of directors of the Ontario Innovation Trust (OIT), Witmer also announced that the Trust is investing more than $5.6 million for infrastructure components.
"These two initiatives will attract established scientists from outside the province as well as retain our current scientists and train new ones," Witmer said. "Both institutes will work on joint scientific collaborations and will also have linkages with other universities."
As part of its overall strategy to promote innovation, the Ontario Government established the Challenge Fund and the Ontario Innovation Trust to increase the research capacity of the province's universities, hospitals, colleges, and research institutes.
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For further information: Media contact: Dan Miles, Minister's Office, Ministry of Enterprise, Opportunity and Innovation, (416) 325-6795