Quantum technology is on the cutting edge of science and technology in various fields, including biology, defence, communications, and computing, and can be applied to support innovation in numerous sectors.
The Regional Quantum Initiative (RQI) in British Columbia assists companies with the development and marketing of quantum products and solutions for domestic and international markets. Using quantum investments, RQI further accelerates the sector’s development and drives product commercialization within a world-class quantum ecosystem.
“British Columbia is well positioned to become a world-leader in the field of quantum technology. It is home to some of Canada’s first quantum computing companies and three universities offering research programs in the field. Through this funding, PacifiCan is supporting the growth of new innovators, enhancing the global competitiveness of B.C.-based businesses, and ultimately helping create high-quality jobs.”The Honourable Harjit S. Sajjan, Minister of International Development and Minister responsible for the Pacific Economic Development Agency of Canada (PacifiCan)
In quantum physics, systems at the atomic and subatomic levels are studied, manipulated, and controlled. From communications to computing and life sciences, quantum science can lead to transformative technologies that may be vital to the economic future of British Columbia and Canada as a whole.
“Quantum science has enormous potential for commercialization. Advancements in quantum will transform much of modern technology and many Canadian entrepreneurs are already leading the way. To support the forthcoming National Quantum Strategy, our government continues to invest in quantum research and commercialization to cement Canada’s leadership in this field.”The Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry
Please note that this program stands separate from the Regional Quantum Initiative for southern Ontario and is intended only for businesses that are based out of British Columbia, Canada.
For this program, businesses can receive interest-free loans for up to 50% of eligible expenses. Moreover, the following conditions may apply:
- Up to 90% of eligible costs may be covered by non-repayable funding for not-for-profit organizations;
- Reimbursable funding is normally available to eligible not-for-profit organizations pursuing commercial projects; and
- Business or commercial projects can stack up to 50% of eligible capital costs and 75% of other eligible costs with government funding (from all three orders of government).
Regional Quantum Initiative funding may be available to businesses that meet the following criteria:
For-Profit applicants must:
- Be a Canadian-incorporated and for-profit company;
- Have operating facilities in British Columbia that are staffed; and
- At the time of application, confirm the availability of all other funding sources, including government and non-government (non-government funds must account for at least 50% of the proposed project costs).
Non-profit organizations that support quantum businesses, innovators, and entrepreneurs with start-up, growth, production, commercialization, adoption, export, and attracting investment, including:
- Post-secondary education institutions such as universities and colleges;
- Business incubators and accelerators;
- Networks of angel investors;
- Businesses owned and managed by Indigenous peoples and non-profit organizations led by Indigenous peoples (First Nations, Inuit, Métis); and
- An industry association or consortium may be an eligible recipient group.
Eligible project activities can include a demonstration project, a commercialization project, a business development project, a capacity building project, and/or a technology development project. Potential areas of Quantum tech include:
- Quantum computers
- Quantum software
- Quantum sensors
- Quantum communications
- Quantum materials
Applications are currently being accepted for this program on a continuous intake basis. Applicants are encouraged to apply as early as possible before funding is fully committed.
Government Funding for Canadian Quantum Companies
For up-to-date information on all government funding, Canadian businesses should subscribe to our weekly funding newsletter. Moreover, you will reduce the time it takes to apply for funding by 95% compared with businesses that handle the process themselves by speaking with a member of the Mentor Works team of Canadian government grant writing professionals.
Speak with a member of our team today by calling our toll-free hotline at 1-888-599-3111.