Government of Canada announces support for southern Ontario’s quantum technology sector

News release

FedDev Ontario invests more than $17.2 million in 12 quantum projects in Waterloo, Ottawa, Toronto and surrounding regions, supporting 150 jobs

February 22, 2024 – Waterloo, Ontario                                         

Quantum technology is at the leading edge of science and innovation and will have a transformative impact on key sectors, such as computing, communications, security, health care and automotive. Canadian entrepreneurs are well-positioned to take advantage of these opportunities, and the Government of Canada is making strategic investments to help them grow quantum-ready technologies, and solidify Canada’s global leadership in this area.

Today, on behalf of the Honourable Filomena Tassi, Minister responsible for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario); the Honourable Bardish Chagger, Member of Parliament for Waterloo; along with Bryan May, Parliamentary Secretary to the Minister for Small Business and to the Minister responsible for FedDev Ontario, announced an investment of over $17.2 million through the Regional Quantum Initiative. With this support,12 innovative companies within southern Ontario’s quantum sector will advance and commercialize their quantum products and solutions for domestic and global markets, and support up to 150 jobs. This investment is an important step in advancing the Government of Canada’s National Quantum Strategy.

Parliamentary Secretary May and MP Chagger made the announcement at Waterloo-based High Q Technologies Inc. (High Q), where they were joined by Valerie Bradford, Member of Parliament for Kitchener South–Hespeler, and Tim Louis, Member of Parliament for Kitchener-Conestoga. High Q is a women-led, innovative life sciences technology company that uses quantum-enabled systems to solve complex problems in protein dynamics, including shortening the timeline to discover new drugs that will help Canadians. As part of this investment, High Q is receiving an investment of up to $3.75-million to support product enhancements to launch their technology into the biopharmaceutical market. These improvements will support their transition from academic use to adoption by biopharmaceutical companies, aiding the process of discovering new forms of medicine.

This investment includes support for Toronto-based GoodLabs Studio Inc., an advanced software engineering company that focuses on machine-learning, artificial intelligence (AI) and quantum technology to solve real-world problems in the health and finance sectors. The company is receiving a contribution of nearly $845,000 to further develop a quantum payment optimizer that works to reduce time and security risks related to the transfer of large payments between financial institutions. Further details on all 12 projects receiving support can be found in the backgrounder.

Southern Ontario is one of four regional hubs of Canadian expertise in the field of quantum technologies, with strengths in quantum computing, materials, sensors and imaging, communications and cyber security. The Government of Canada will continue to make investments that grow the economy and ensure this growing sector is well-positioned to transform research into products for Canadians. 


“Southern Ontario is well-positioned for quantum breakthroughs because we are home to world-leading research centres and high-potential quantum companies, like the ones we are celebrating today. Businesses in this sector are creating incredible technologies and our government is providing support so they can bring them to market faster, advancing Canada’s role as a world leader in quantum technologies.”
- The Honourable Filomena Tassi, Minister responsible for the Federal Economic Development Agency for Southern Ontario

“Quantum science will transform how everything is designed and developed. It has the potential to grow the economy and create thousands of good quality, high paying jobs. This is why our government decided to be ambitious and lead the way when we developed the National Quantum Strategy, and also why we are backing it with important investments to amplify Canada’s strength in quantum science and further cement Canada’s leadership in this field.”
- The Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry

“With today’s announcement, our government is strengthening Canada’s position in quantum technology and helping to boost economic growth and create good jobs for Canadians. Through these investments, we will continue to build this sector and support made-in-Canada technologies that will have a major impact on industries like computing, communications, security and health care.”
- Bryan May, Parliamentary Secretary to the Minister for Small Business and to the Minister responsible for FedDev Ontario 

“Today’s announcement is great news for Waterloo Region and Canada’s quantum technology sector. By investing in and supporting quantum technology, we are ensuring Canada's competitiveness on the global stage and also paving the way for even more ground-breaking advancements that will shape the future of our economy and society.”
- The Honourable Bardish Chagger, Member of Parliament for Waterloo

“Investing in quantum technology projects is not just about embracing the future - it's about shaping it. Today’s investments, specifically in the four Kitchener-Waterloo companies, will work to support Canada’s future prosperity and influence on the world stage in the quantum and technology fields.”
- Valerie Bradford, Member of Parliament for Kitchener South–Hespeler

“Quantum technology holds the potential to transform how we do things in the tech world. By supporting this important sector right here in Waterloo Region, our government is ensuring that Canada stays ahead in the global tech race while fostering an environment where innovation thrives.”
- Tim Louis, Member of Parliament for Kitchener-Conestoga

“The Government of Canada has demonstrated a strong commitment to the health sciences and biotechnology sectors by supporting both research and development as well as commercialization of new ideas that translate into impactful solutions in these critical fields. This recent investment will support further developments in our quantum-enabled EPR systems, which will empower scientists to pioneer breakthroughs in disease treatment and drug development.”
- Wendy Hinchey, CEO, High Q Technologies Inc.

“We are thrilled to receive financial backing from FedDev Ontario for our initiative to utilize quantum computing in addressing today's intricate financial challenges. The funding not only accelerates our journey towards solving one of the most complex high-value payment processing challenges in the financial industry but also serves as a resounding vote of confidence in GoodLabs' expertise in quantum technology.”
- Thomas Lo, CEO, GoodLabs Studio Inc.

Quick facts

  • Quantum science is the study, manipulation and control of systems at the atomic and subatomic level. Transistors, semiconductors, computer processors and lasers are among the quantum-based technologies that serve as the foundation of the digital age. While other technologies tend to produce incremental progress, quantum has the potential for significant and widespread disruption. Advances in quantum science and technology can lead to major advances in fields such as computing, sensing, secure communications and advanced materials.

  • As part of the Government of Canada's National Quantum Strategy (NQS), FedDev Ontario is delivering the Regional Quantum Initiative in southern Ontario. Over $23 million is being delivered over six years (2022-2027) to help companies advance and commercialize their quantum products and solutions for domestic and global markets.

  • The Regional Quantum Initiative builds on the success of the Government of Canada’s past quantum investments to further accelerate the development of the sector and drive product development in this world-class quantum ecosystem.

  • Since November 2015, FedDev Ontario contributed nearly $40 million to support 14 quantum projects, creating and maintaining 250 jobs. 

Associated links


Edward Hutchinson
Press Secretary, Office of the Minister responsible for the Federal Economic Development Agency for Southern Ontario

FedDev Ontario Media Relations

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