Last week, Colorado was named the winner of the Quantum Hub bid. Specifically, the U.S. The Department of Energy EDA announced Elevate Quantum was awarded $40.5 million as a Tech Hub II grant. The federal grant secured an additional $77 million from the state of Colorado and $10 million from New Mexico. The $127 million in funding solidifies the US by way of the Mountain West at the forefront of the quantum revolution.
Beyond national security needs, quantum has vast capabilities that will forever change our world and lead us to the next level of technological evolution. This funding will be used to create Quantum centers to support innovation and collaboration amongst engineers, inspire entrepreneurs and attract investors.
We’re ecstatic to establish Colorado as the home of Quantum, and Caruso Ventures is a proud investor of Quantum companies: Atom Computing, Infleqtion, Maybell Quantum, and Vescent. Thank you all - your global Quantum leadership bolstered Colorado's bid for this Tech Hub award.
Looking forward, this award opens up the possibility of an additional $960 million of federal Tech Hub grants over the next 10 years.
A huge thanks is in order to Zachary Yerushalmi, Corban Tillemann-Dick and Wendy Lea from the Elevate Quantum team for their exceptional leadership in securing the funding.
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