Australia, November 13, 2024 -- The nation’s first State of Australian Quantum report reveals the depth and strength of our national quantum sector.

The Albanese Government has committed billions in funding for quantum and broader critical technologies since the launch of the National Quantum Strategy just eighteen months ago.

This significant government investment has been backed in by private capital, with over $179 million invested in Australian quantum companies over the same time period.

The release of the report coincides also with the announcement of recipients for Round 1 of the $36 million Critical Technologies Challenge Program (CTCP), a commitment of the National Quantum Strategy. The CTCP will accelerate commercialisation for quantum technologies from early-stage when private capital is hard to secure and drive greater awareness and uptake of quantum technologies in Australia.

$5.2 million in funding has been awarded to 14 consortia for feasibility projects that will tackle challenges as diverse as:

• Making a high-speed optical scanner for diabetes assessment (SA, $495,026).
• Using quantum computing for remote community energy systems with renewable energy sources (SA, $159,666)
• Developing resilient communications and navigation of autonomous systems without GPS (QLD & NSW, $498,674).
• Creating a new quantum optical sensor which will enable selective mining of rare-earth elements in clay deposits (NSW & SA, $490,936).  
• Developing diagnostic technology to detect the ‘Invisible Melanoma’ (Qld, $415,763).

A list of grantees can be found here: business.gov.au/CTCP-Round-1-grant-recipients

Through initiatives like the $36 million Critical Technologies Challenge Program, $18.4 million supporting the establishment of Quantum Australia, and $470 million investment into PsiQuantum, the Government has shown that Australia is serious about backing the quantum technology sector.

These investments sit alongside the National Reconstruction Fund and Industry Growth Program, which are targeting significant investments in critical technology companies, including those in the quantum sector.