Thursday, November 21, 2024

Boosting Quantum Technology: NSF Awards $1 Million for Midwest Advancement through the CQE-led Coalition

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NSF Awards $1 Million to CQE-led Coalition to Strengthen Quantum Technology in Midwest

In a significant boost to the advancement of quantum technology in the Midwest, the Chicago Quantum Exchange (CQE) has been selected to receive a prestigious $1 million National Science Foundation Regional Innovation Engine (NSF Engine) Development Award. This funding is aimed at enhancing the burgeoning quantum ecosystem in Chicagoland by fostering deeper partnerships and bolstering plans for workforce and economic development. The award marks a notable achievement in the inaugural NSF Engine Competition held in 2022, an initiative founded by the CHIPS and Science Act.

The NSF Engine Development Award, effective April 15, is focused on bridging the gap between laboratory research and real-world applications, while also aiming to equip the future workforce for the rapidly expanding landscape of quantum enterprises. This initiative will leverage multisectoral coalitions to cultivate data-driven strategies, propelling the quantum economy into a new era. The realm of quantum technology, acclaimed for its potential to exploit the enigmatic attributes at the smallest scales of nature, promises the advent of groundbreaking enhancements across various sectors. It includes secure and unhackable communications, safeguarded financial transactions, accelerated drug discovery processes, supply chain optimizations, and much more.

The principal investigator of the CQE and NSF engine projects, David Awschalom, the Liu Family Professor of Molecular Engineering at the University of Chicago’s Pritzker School of Molecular Engineering, remarked on the crucial role the Chicago region plays in quantum technology development. Asserting its significance for both the economy and national security, Awschalom highlighted the necessity of expanding commercialization efforts, garnering appropriate support, and nurturing a workforce proficient enough to close the burgeoning demand gap. Through a collaborative and deeply engaged ecosystem, goals are more attainable, with the NSF Engine Award serving as a testament to the region’s leadership and a pivotal step towards a quantum-influenced future.

The receipt of this $1 million NSF Engine Development Award signifies the program’s debut, a strategic move under the CHIPS and Science Act of 2022 to maintain the United States’ competitive edge in crucial technological realms. This award complements the region’s recent acknowledgment as a U.S. Tech Hub for Quantum Technologies, an announcement made by the White House and the U.S. Department of Commerce’s Economic Development Administration (EDA) in October. Following this designation, a CQE-led coalition is in the running for up to $70 million in funding to spearhead projects that leverage quantum technology solutions to tackle significant societal issues and encourage industry-wide adoption.

Both the EDA designation and the NSF award underline the region’s prominence in propelling the United States to the forefront of quantum technology advancements. This success is attributed to a collaborative effort among universities, industry leaders, national research institutions, and state and local governments, facilitated by economic and workforce development nonprofit partnerships under the CQE. The coalition, anchored at the University of Chicago, involves collaboration with over 40 corporate, international, nonprofit, and regional partners, contributing to a robust quantum ecosystem characterized by a wide array of experts, industrial diversity, and a vibrant startup culture, including the nation’s pioneering quantum technologies startup accelerators.

In evidence of the region’s commitment and potential in the field of quantum information science, Illinois Governor JB Pritzker has proposed a substantial $500 million allocation for quantum technology in the state’s fiscal year 2025 budget proposal. This gesture underscores the state’s dedication to securing its position as a leader in quantum innovation and development.

The NSF Engine Development Award to the CQE-led coalition not only represents an acknowledgment of the region’s leadership in quantum science but also serves as an essential catalyst for future growth and innovation in the quantum domain, positioning the Midwest as a pivotal player in the next quantum revolution.

Alex Sterling
Alex Sterlinghttps://www.businessorbital.com/
Alex Sterling is a seasoned journalist with over a decade of experience covering the dynamic world of business and finance. With a keen eye for detail and a passion for uncovering the stories behind the headlines, Alex has become a respected voice in the industry. Before joining our business blog, Alex reported for major financial news outlets, where they developed a reputation for insightful analysis and compelling storytelling. Alex's work is driven by a commitment to provide readers with the information they need to make informed decisions. Whether it's breaking down complex economic trends or highlighting emerging business opportunities, Alex's writing is accessible, informative, and always engaging.

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