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22 HARTFORDBUSINESS.COM | JULY 10, 2023 Michael DiDonato, UConn's project manager for the Quantum-CT project. HBJ PHOTO | STEVE LASCHEVER Quantum Leap CT aims to build a quantum technology business corridor By Michelle Tuccitto Sullo msullo@hartfordbusiness.com S cientists at New Haven-based Quantum Circuits Inc. are working to develop and bring the first practical quantum computers to the public. The Yale spinout's leaders say quantum computing technology will mean faster, more powerful informa- tion processing than what's available in today's supercomputers. The technology is expected to have applications from cybersecurity and designing new pharmaceu- ticals to artificial intelligence and weather prediction. Now, an effort is underway to make Connecticut a hub for quantum technol- ogy-related businesses like Quantum Circuits, with the goal of creating jobs and boosting the economy. In May, the U.S. National Science Foundation (NSF) awarded a $1 million federal planning grant to Yale University and the University of Connecticut toward this effort. The universities will use the money to develop plans to facilitate the growth of startup and existing quan- tum-related companies, find ways academic research can help these companies, and prepare residents for jobs in the field. University officials hope their planning efforts will then lead to additional federal funding, up to $160 million, to implement those ideas, potentially turning the state into a hub for quantum-related business. New capabilities The "Quantum-CT" initiative aims to make the state the country's accelerator for quantum technologies, backers say. It's a burgeoning industry. Quantum technology startup investment last year reached a new all-time high of $2.35 billion, and the global quantum tech sector is expected to be a $106 billion market by 2040, according to an April 2023 Quantum Technology Monitor report from McKinsey & Co. Dozens of partners are involved in the Quantum-CT effort, from univer- sities to government officials and the Connecticut Business & Industry Association (CBIA), Connecticut Inno- vations, CTNext, AdvanceCT, Yale Ventures and UConn's Technology Innovation Program. "This could be revolutionary for our state," said Michael DiDonato, UConn's project manager for the Quantum-CT initiative. "The quantum industry is fasci- nating, and it's far more than just fancy fast computers," said DiDonato. "Nowhere else is there an unexplored industry with such broad possi- bilities across so many different disciplines. This is an entirely new industry, and to see it blossom here in Connecticut will require work in multiple areas." According to DiDonato, those involved in the project will use the initial grant in four areas: research, translation of innovation to practice, workforce development, and advancement of the state's quantum ecosystem. UConn and Yale are currently building a team of academic researchers, industry stakeholders and community leaders for the effort, he said. "While the work of this team will certainly help entrepreneurs build new companies related to quantum, the focus is just as much on building an environment to foster quantum innovation," DiDonato said. Quantum technology will have applications for many different types of businesses, he said. The project will work to identify new business opportunities in health care, finance, energy, materials science, weather forecasting, defense, trans- portation and agriculture. "Truly, these are just a fraction of the potential applications," DiDo- nato said. "At its core, this is a new technology with new capabilities, and we will leverage this award to identify complex problems needing solutions to drive innovation in Connecticut." Michael Crair, Yale's vice provost for research and co-principal investi- gator for the NSF grant, said the goal is to build an innovation ecosystem Michael Crair 0 10 20 30 40 50 60 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Number of quantum technology-related startups founded per year STARTUPS FOUNDED Source: McKinsey & Co. April 2023 Quantum Technology Monitor