Elevate Quantum, a Tech Hub designated by the U.S. Department of Commerce Economic Development Administration (EDA), was awarded a $40.5 million federal grant to strengthen the quantum workforce and accelerate plans to establish the Mountain West, along with partner the Colorado School of Mines in Golden, as global front-runners in quantum innovation. The funding is also set to activate $84 million in state support and $1 billion in private capital toward quantum information technology.
In 2023, Elevate Quantum Colorado was marked as one of the 31 inaugural Tech Hubs in the U.S., a program designed under the CHIPS and Science Act. The strategic initiative is aimed at injecting investment into American regions with high potential for rapid expansion in key technology sectors.
The Mountain West consortium, currently comprising 120 organizations including Mines, aims to advance quantum technologies, companies, and workforce across Colorado and beyond. Dr. Paul C. Johnson, president of Colorado School of Mines said, “We’re excited and eager to have this once-in-a-lifetime opportunity to work with and support our regional industry and university partners to advance the quantum technologies, companies, and workforce that Colorado and the nation needs.”
Colorado boasts the nation’s largest concentration of quantum companies, with approximately 3,000 workers in over 30 companies propelling quantum tech enhancements. Over the next decade, it’s projected that quantum-related jobs will surge by tens of thousands, a majority not necessitating advanced degrees. Mines launched one of the first quantum engineering programs in the U.S. in 2020, aimed at mitigating critical workforce shortages.
“You don’t need a PhD to make an impact in quantum engineering – you need quantum literacy, and this program is designed to bring students and working professionals up to speed on key concepts needed by industry today,” said Eliot Kapit, associate professor of physics at Mines.
The federal funds, coupled with Colorado’s newly legislated $74 million Quantum Tax Credit and New Mexico’s significant quantum investments, will permit Elevate Quantum to fulfill critical objectives such as launching over 50 quantum startups, training 30,000 workers, and creating a top-tier quantum lab offering state-of-the-art hardware and expertise to startups.
Source: Press Release