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The University of New South Wales (UNSW) is set to commercialize its quantum computing technology with the launch of what is being touted as Australias first quantum computing company.

The A$83 million (US$66 million) venture, from which the new company, Silicon Quantum Computing Pty Ltd, has emerged, has received backing from UNSW itself, which has contributed A$25 million, as well as the Commonwealth Bank of Australia and Telstra, which are contributing A$14 million and A$10 million, respectively.

This is in addition to the backing by the Australian Federal Government which, through its National Innovation and Science agenda, which is also investing A$25 million in the next five years in the company, and the NSW governments contribution, which is putting up A$8.7 million.

The creation of the new company is intended to help drive the development and commercialization of a 10-qubit quantum integrated circuit prototype in silicon by 2022 as the forerunner to a silicon-based quantum computer.

The company will work alongside the Australian Research Council (ARC) Centre of Excellence for Quantum Computation and Communication Technology (CQC2T), operating from new laboratories within the Centres UNSW headquarters.

Speaking at an event to launch the company at UNSW on 23 August, chief researcher and board member, Professor Michelle Simmons, said that the three-way collaboration between government, industry and universities was unique internationally.

I know the rest of the world is watching us, Simmons said.

The creation of the new company is expected to see up to 40 staff hired, including 25 postdoctoral researchers, 12 PhD students, and lab technicians. Recruitment is already underway.

Silicon Quantum Computings board members include Simmons; Hugh Bradlow, Telstras Chief Scientist; David Whiteing, CBAs Chief Information Officer; and Glenys Beauchamp, Secretary of the Department of Industry, Innovation and Science.

The board will be chaired initially by corporate lawyer and company director, Stephen Menzies.

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Australian quantum computing outfit goes commercial - Networks Asia