Blackberry co-founders Mike Laziridis and Doug Fregin are teaming up again to establish a $100 million dollar private fund that will nurture Canada's fledgling quantum computing industry.
In a news release Wednesday night, the pair said they believe the fund will lead to the creation of new jobs and industries and help establish Waterloo as "Canada's Quantum Valley."
Dubbed Quantum Valley Investments, the new fund hopes to harness the existing developments and breakthroughs that have already been discovered over the past 12 years in Waterloo in order to give the region a global leader in the field.
Research in quantum computing — where the aim is to develop computer technology based on quantum theory — is still relatively nascent. Research in the field could make computers exponentially more powerful than they already are.
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