Quantum computing in Colorado could get a multimillion-dollar investment

Quantum computing in Colorado could get a massive boost in federal funding this year, to invest in startups, workforce development and laboratory space.

Colorado is already a leader in the area, but Sen. John Hickenlooper said Thursday at the National Cyber Security Center the technology has reached an inflection point that will play out in the coming decades, changing education, transportation and other sectors. 

"It’s going to touch every aspect of our lives," he said. 

He also expects it will bring thousands of additional jobs to the state in the coming years.

According to IBM, quantum computing "uses specialized technology — including computer hardware and algorithms that take advantage of quantum mechanics — to solve complex problems that classical computers or supercomputers can’t solve, or can’t solve quickly enough."

A grant proposal by Elevate Quantum, a Denver-based nonprofit, would help accelerate that growth across Colorado, Wyoming and New Mexico. The Colorado-based imitative is competing with a Chicago-based proposal for a chance at up to $70 million that could be awarded this summer, said Wendy Lea, who led the work on the proposal.

The award from the Economic Development Administration could be a first phase of funding that could grow into $1 billion over 10 years, if congressional interest persists, she said.

The agency has already named Elevate Quantum a tech hub, one of 31 across the U.S., focused on growing key technology sectors, such as artificial intelligence and advanced manufacturing. This summer, five to 10 of those hubs will receive funding, according to the agency.

A critical component of the proposal is helping researchers transform their ideas into companies, Lea said. She would like to see it spark 150 startups so that 50 can be viable within five years. A portion of the grant money would be dedicated to business incubators, similar to Catalyst Campus in Colorado Springs, to help grow those businesses. Other funds would go toward workforce development in K-12 schools and universities and lab space, a summary of the proposal said. 

Elevate Quantum has a strong case for the funding, Lea said, with healthy ecosystem of startups, a large Department of Defense presence in Colorado Springs and the Sandia and Los Alamos National Laboratories in New Mexico.

Two existing quantum companies were featured at the event, including an existing quantum sensing company.

LongPath Technologies, in Boulder, offers methane detection using laser line sensors. On oil and gas fields, the sensing helps operators find and detect leaks, CEO Ian Dickinson explained.

Lea expects the quantum computing industry will grow as it delivers products to the military, health care system and financially services. But the most acute need now is in national security, as China’s spending in this area far outstrips America’s investment.

“An ecosystem strategy is the way to economic resilience,” she said.