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Denver based Elevate Quantum awarded $ 127m to secure US leadership in Quantum Technology .
Colorado set to be the ‘ Silicon Valley ’ of the quantu
Elevate Quantum has received a Tech Hub Phase 2 Implementation award from the Department of Commerce – unlocking more than $ 127m in new federal and state funding .
The award is expected to drive more than $ 2bn in additional private capital and cement the Mountain West as a global leader for quantum innovation .
In 2023 , the US Department of Commerce ’ s Economic Development Agency ( EDA ) designated Elevate Quantum as one of 31 regional Tech Hubs making it eligible for up to $ 1b in federal investment over the next decade .
With $ 40.5m in initial EDA funding from the Department of Commerce and matching funds from Colorado
($ 77m ) and New Mexico ($ 10m ), the investment represents a down payment on the next 50 years of US quantum leadership .
“ This award marks the first large-scale , place-based federal investment in quantum . We are honored to be acknowledged as a driving force in the global race for quantum innovation and this funding marks a critical milestone in securing U . S . quantum leadership . We thank our partners , consortium members and the EDA for making this happen ,” said Zachary Yerushalmi , CEO of Elevate Quantum .
“ The Mountain West is home to the largest regional coalition of quantum leaders in the world ; this funding cements our status as the capital of quantum and supports us in building a thriving future for all Americans .”
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