Why Now Is the Moment to Invest in Quantum Technology and Talent
By Tamara MacNeil
Why Now is the Time to Invest in Quantum Technology and Education:
Quantum technology has the potential to transform industries and redefine global competitiveness by making complex calculations simpler, faster, and more accessible. As quantum computing and quantum communication advance, support for commercialization and education has never been greater. There is an international race for quantum technology and skills, and countries that invest today will be positioned as leaders in this emerging quantum age.
Strategic Importance of Quantum Technology:
The ability of quantum computers to solve previously unsolvable problems in cryptography, material science, and logistics gives them the potential to disrupt industries ranging from healthcare to national defense. This makes quantum technology a strategic, sovereign asset that is already beginning to underpin global economic and security frameworks.
Canada has been leading the way with quantum technology companies already deeply integrated with Canadian universities and producing commercial quantum products. Investments in quantum startups have reached $1.71 billion in 2023, with Canadian firms like Photonic Inc. attracting the second-largest global quantum investment of US$100 million. While Canada has been punching above its weight, with 47+ quantum companies as well as leading researchers to call its own, momentum must be supported as this novel technology moves from the lab to the real world.
The Quantum Talent Gap:
One of the greatest threats to quantum progress is the global shortage of quantum-trained talent. Canada’s quantum workforce is currently estimated at only 4,000 people, or 0.01% of the population, reflecting an urgent need for education and training programs. Without immediate action to expand quantum education, this talent shortage could slow down Canada's competitiveness in a quantum economy projected to reach $45-131 billion by 2040.
The growing demand for quantum expertise is compounded by the rise of competing deep-tech sectors like artificial intelligence (AI). Educational institutions need to act now to train quantum specialists, engineers, and entrepreneurs to meet the high demand for talent in this nascent but rapidly evolving sector.
Commercializing Quantum: A Window of Opportunity
The commercialization of quantum technology is moving from 20-year scientific endeavors to 5-year engineering challenges. Companies are racing to solve quantum computing’s key barriers—like error correction, qubit fidelity, and scalability—to deliver fault-tolerant quantum machines.
Canada’s quantum ecosystem has already demonstrated its early successes in this arena, with companies like D-Wave, Xanadu, and Anyon leading the way in both research and market-ready quantum solutions. But the window to capture significant market share is narrowing as international competition intensifies. Countries that fail to invest in quantum commercialization today risk being left behind in a race that will define technological leadership in the 21st century.
What’s next?
Quantum technology is not a distant future—it's a rapidly developing reality. Investing in quantum education, research, and commercialization now will secure Canada’s leadership in this transformative field. As the race to dominate quantum intensifies, early movers will reap the benefits of being global leaders, while latecomers risk falling irreversibly behind. By acting today, we ensure that Canada remains at the forefront of quantum innovation, safeguarding our technological and economic sovereignty for decades to come.