QUANTUM COMPUTING, INC.

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Innovative Solutions Canada Funding For Quantum-related Technologies – Proposal Deadline: July 6, 2022

06/24/2022 | 06:09am EDT

Innovative Solutions Canada currently has several open funding opportunities for quantum-related technologies that may provide up to $1.15 million CAD to eligible innovators towards the development of a prototype.

Specifically, the Government of Canada (GoC) is seeking proposals for “pre-commercial innovative prototypes” related to three quickly evolving fields of quantum related technologies.

Quantum Sensors

The GoC has particular interest in such applications as:

  • High-resolution imaging for health, pharmaceuticals, mining, aviation, and aerospace
  • Improved magnetic sensors leveraging the recent advances in increased sensitivity and decreased cost
  • Short-range and long-range navigation tools in GPS-denied environments, quantum radar
  • Quantum enabling technologies such as cryogenic refrigeration tech

Quantum Communications

The GoC has particular interest in such applications as:

  • Military communications
  • Secure communications
  • Communications related to Uncrewed Aerial Systems
  • Quantum information distribution and management

Quantum Computing

The GoC is calling for a variety of quantum computing hardware and software solutions that can help improve departments' existing quantum computing stack and better prepare the GoC for the eventual integration of quantum computing solutions into its operations.

More specific definitions, requirements, and goals for each of the funding opportunities can be found through the application webpage.

Eligiblity Criterion

In order to be eligible, Bidders must meet a number of mandatory criteria, which are specified for each funding opportunity. These include the requirement to have a minimum amount of Canadian content included in the proposal, the requirement that Bidders must own their own IP, and various others.

The Bidder must also pass a number of technical evaluations, detailed on the application page. Among the technical evaluations is a requirement to demonstrate a suitable Intellectual Property (IP) strategy, which should not only protect the IP generated by the innovation but also support successful commercialization of the innovation.

If a business's proposal is accepted, they will be entered into a graduated, three phase process.

  • Phase 1 (Proof of concept) - In this phase the business may be given up to six months and up to $150,000 in funding to develop a proof of concept for the solution. After a successful concept is developed, the business will move into the next phase.
  • Phase 2 (Prototype development) - In this phase the business may be eligible to receive up to two years and up to $1 million in funding to support the development of a prototype.
  • Phase 3 (Pathway to commercialization) - Under this phase, the federal department or agency that supported the early-stage research and development may opt to procure the technology from the business, with no limit to the amount the department may spend.

The funding opportunities close July 6, 2022 at 14:00 EST. Applications are available through this link.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

Ms Isi Caulder
Bereskin & Parr LLP
Scotia Plaza, 40 King Street West
40th Floor
Toronto
Ontario M5H 3Y2
CANADA
Tel: 4163647311
Fax: 4163611398
E-mail: marketing@bereskinparr.com
URL: www.bereskinparr.com

© Mondaq Ltd, 2022 - Tel. +44 (0)20 8544 8300 - http://www.mondaq.com, source Business Briefing

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Financials (USD)
Sales 2022 1,00 M - -
Net income 2022 -21,6 M - -
Net Debt 2022 - - -
P/E ratio 2022 -5,14x
Yield 2022 -
Capitalization 127 M 127 M -
Capi. / Sales 2022 127x
Capi. / Sales 2023 25,4x
Nbr of Employees 29
Free-Float 63,9%
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Number of Analysts 1
Last Close Price 3,75 $
Average target price 9,00 $
Spread / Average Target 140%
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Robert P. Liscouski Chairman, President & Chief Executive Officer
Christopher B. Roberts Chief Financial Officer
William J. McGann Chief Operating & Technology Officer
Bertrand Velge Independent Director
Robert Bruce Fagenson Independent Director
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