Creative Destruction Lab’s Quantum Stream Expands, Connecting Quantum Hubs in Toronto and Montreal

Insider Brief

• Creative Destruction Lab announces a strategic partnership expansion within its Quantum Stream to Montreal, Canada.
• The Quantum Stream is now partnering with CDL-Montreal, which is operated by Executive Education at HEC Montreal.
• The CDL Quantum Stream has been instrumental in fostering groundbreaking quantum startups, contributing to approximately one-fifth of all quantum startups worldwide.

PRESS RELEASE — Creative Destruction Lab (CDL), a global seed-stage program for massively scalable, science-based companies, announces a strategic partnership expansion within its Quantum Stream. CDL Quantum was initially launched at CDL-Toronto in 2017 at the Rotman School of Management, University of Toronto. The stream is now partnering with CDL-Montreal, which is operated by Executive Education at HEC Montreal, to further propel the growth and innovation within the emerging quantum technology sector.

Since its inception, the CDL Quantum Stream has been instrumental in fostering groundbreaking quantum startups, contributing to approximately one-fifth of all quantum startups worldwide. Moreover, alumni ventures from the CDL Quantum Stream have collectively raised over $825 million CAD, showcasing the program’s efficacy in nurturing quantum innovation.

“CDL Quantum has had an enormous impact on building the ecosystem for quantum startups. Our graduates continue to push the boundaries of what is possible in this nascent domain and have built some extraordinary companies in the process,“ says Francesco Bova, Academic Lead of the Quantum stream at CDL-Toronto.

The collaboration between CDL-Toronto and CDL-Montreal presents a significant opportunity to solidify CDL Quantum’s leadership position in the field while establishing vital connections between two of Canada’s largest quantum hubs. Additionally, the pooling of resources and networks through this partnership creates greater incentives for local ecosystems to become involved and for funding opportunities to be realized worldwide.

“We are proud to join this incredibly successful Stream led by the team at CDL-Toronto. We aim to mobilize the deep research and strong talent found here in our Quebec Quantum hub centred in Sherbrooke, with key contributions from Bromont, Quebec and Montreal. Leveraging HEC Montreal’s business expertise, we hope to continue accelerating the commercialization of this groundbreaking technology.” – Julien Billot, Site Lead of CDL-Montreal

Quebec is a key player in all quantum sciences and technology sub-sectors. Quebec’s quantum advantage lies with its talent pool; a critical mass of scientists and infrastructures, and world-renowned researchers. Sherbrooke, Quebec is home to renowned international leader in quantum research, Sherbrooke University as well as a state-of-the art quantum research centre — the Institut Quantique.

This new expansion underscores CDL’s commitment as a non-profit to fostering innovation and entrepreneurship.

Applications for this year’s CDL Quantum program are open until May 21, 2024. Quantum ventures interested are encouraged to reach out to quantum@creativedestructionlab.com.

For more information about Creative Destruction Lab and its Quantum Stream, visit creativedestructionlab.com/streams/quantum.

For more market insights, check out our latest quantum computing news here.