The Australian government released the country’s first National Quantum Strategy today to back quantum industries that boost Australia’s economic competitiveness and help solve the country’s biggest national challenges.
The National Quantum Strategy was developed in line with the National Reconstruction Fund, which will provide $1 billion in targeted investment in critical technologies like quantum.
Minister for Industry and Science Ed Husic said the strategy will serve as the North Star that will help guide collaboration between research pioneers, industry partners, startups, and the government into the future.
“In time, quantum computing will unleash incredible computing power that can phenomenally outperform traditional computing,” said Minister Husic.
“By pairing a National Quantum Strategy with the National Reconstruction Fund we’re aiming to turn Australia into a global technology leader, building stronger industry and creating jobs for the future,” Husic said.
The strategy prioritises five areas: investing in research and development and commercialisation, securing infrastructure and materials, growing a skilled workforce, supporting national interests and promoting a trusted, ethical, and inclusive ecosystem.
The quantum plan was developed based on extensive consultation across the industry, researchers and the community led by Australia’s Chief Scientist Cathy Foley, along with guidance from the National Quantum Advisory Committee.
Under the strategy, Australia’s quantum industry is expected to create approximately 19,400 direct jobs and generate about $5.9 billion of revenue by 2045.
Boosting government backing for quantum technology development could help Australia solve some of its biggest challenges, such as cutting the time and cost of developing new medicines, helping the transition to net zero with more efficient battery storage, and safeguarding cyberinfrastructure.
“I can’t emphasise this enough, quantum technologies will be truly transformative,” Husic said. “We are already seeing how quantum sensing equipment is making a huge difference for industry.”
