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. 

Our national quantum industry is now home to 38 domestic and international firms, and 26 Australian research organisations, which are producing world leading quantum sensing, communication and computing. 

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).

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. 

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

Quotes attributable to the Hon. Ed Husic, Minister for Industry and Science:

“We’ve been determined to champion growth in Australia’s quantum sector - and that’s drawing global interest.  We can and should be quantum leaders. 

“Quantum technologies will deliver the next generation of computers, far more powerful than anything we currently see in our laptops or smart phones.

“This report shows the Government is backing Australian quantum companies at every stage in their growth – from when they have the first spark of an idea, right through to selling their tech on the world stage.

“We’re crowding in private investment for our great Aussie quantum companies, to the tune of $179 million since May 2023.  

“Our investment in quantum demonstrates our commitment to a strong tech sector and a Future Made in Australia.”