Although our advancements in the field of quantum computing are somewhat modest, we continue to focus on finding ways to accelerate our research. The power of quantum computing can lead to efficiencies that are not currently possible in our world and solve problems much too complex for computers today. At EVAMAX, we assist companies who are seeking innovation by securing grants and tax incentives to fund their business.

The main difference between classical and quantum computers is the way they store and communicate information. Classical computers use bits which have binary values of 0 or 1 to compute information. Quantum computers, on the other hand, use quantum bits, or qubits, which have a continuum of values of which it can take form, unlike normal bits who can only assume two values.

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There are several companies and governments worldwide, including large and influential corporations such as Google, who are heavily invested in advancing the field of quantum computing research. Just recently, IBM partnered with a handful of universities to assist their research in quantum algorithms and quantum complexity theory.

These institutions included some of the most prestigious schools in the world, such as Harvard University and the University of Chicago, with the University of Waterloo being the only Canadian school in the pack. IBM connects with these schools through the IBM Q Network which is a community of Fortune 500 companies, startups, academic institutions, and research labs focused on quantum computing.

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The purpose of the IBM Q Network is to prepare students for new careers and to further collaborative research in quantum computing with the hopes of discovering new efficiencies unavailable to society today. This network allows IBM to provide its associates with quantum expertise, quantum resources, quantum software, developer tools, and cloud-based access to IBM’s universal quantum computing systems and quantum software.

The University of Waterloo, who is the sole Canadian school in the IBM Q Network, has become a global hub for quantum computing. The students and faculty involved are expected to research aspects of quantum computing that will enable more proficient quantum systems and expedite our current understanding of quantum algorithms and complexity theory.

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In April 2019, the federal government awarded uWaterloo with a $41 million investment which was split between four local organizations doing work in quantum computing. The government hopes that this investment will contribute to characterizing teams of researchers, tech experts, and engineers looking to develop innovations in the field of quantum research.

With regards to quantum computing and other advanced technologies, there is a substantial amount of room for innovation. The introduction of quantum computers into society will enable us to compute millions of calculations at once rather than just a single binary calculation, a potentially revolutionary technology.

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If you are a company related to the field of quantum computing or other advanced technologies, there are incentives implemented by the government to fund your business through Canadian tax incentive/refund programs . You may be missing out on innovation funding and other sources of financing that you are entitled to.