Quantum technology has been hailed as a potentially revolutionary technology across a variety of sectors, including transport and logistics. That’s why the federal government has committed $36 million as part of the second round of funding for the Critical Technologies Challenge Program (CTCP).
Australia has invested $1.17 billion in quantum technology and research since the release of the National Quantum Strategy in 2023, and use of the technology is expected to rise by 33 per cent over the next five years.
Quantum computing use quantum bits, or ‘qubits’ to perform the same function as ordinary binary computers and is significantly faster and more capable of storing vast amounts of data – all while using less energy.
The technology can be applied to the transport sector through the rapid optimisation of routes, minimise delays and costs and improve transport processes.
In other sectors, it is hoped its continued development will also contribute to challenges facing Australia’s biosecurity, energy needs and First Nations health challenges.
“Quantum technologies can lift our economy and help address social challenges,” Minister for Industry and Science Ed Music says.
“This program is working with industry to target specific uses for quantum that will bring those benefits.
“Australia’s quantum know-how is world-leading, and these projects are a great demonstration of how these technologies can be put to work for Australians – from improving First Nations health outcomes to strengthening our energy network.”
Stage one of the latest round of CTCP funding will offer successful applicants up to $500,000 in funding for feasibility projects.
Those with successful feasibility projects will be invited to then apply for up to $5 million in funding to develop technology demonstrator projects and proof of concept.
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