Funding to Boost Australia’s Quantum Future

Insider Brief

• The Australian Government will invest $18 million in quantum technologies to address biosecurity, First Nations health, supply chain logistics, and energy network optimization.
• Round 2 of the $36 million Critical Technologies Challenge Program (CTCP) will provide up to $5.25 million for feasibility projects starting January 2025.
• The program supports industry-led collaborations to advance quantum adoption, building on initiatives like the National Quantum Strategy and the $15 billion National Reconstruction Fund.

PRESS RELEASE — Quantum technologies will receive an $18 million boost to help improve First Nations health outcomes, strengthen biosecurity, tackle supply chain challenges and optimise energy networks.

Four nationally significant challenges will be the focus of Round 2 of the Australian Government’s $36 million Critical Technologies Challenge Program (CTCP), designed to support Australia’s world-class quantum technology businesses.

Minister for Industry and Science, Ed Husic, today announced $5.25 million will be available for the feasibility stage of this round, with consortia encouraged to start preparing applications when they open on 15 January 2025.

“This program is about working with industry to target specific uses for quantum that will bring those benefits,” said Husic in a statement. “Australia’s quantum know-how is world-leading and these projects are a great demonstration of how these technologies can be put to work for Australians – from improving First Nations health outcomes to strengthening our energy networks. This is another way our Future Made in Australia plan is helping create new opportunities to make more things here.”

The program is designed to:

• Propel demand for quantum technologies,
• Demonstrate how quantum can be used across the economy, and
• Drive private sector investment.

Focus Areas of Round 2

The CTCP will support industry-led collaborations, focusing on four nationally significant challenges:

• Improve biosecurity outcomes by enhancing the detection of invasive pests or diseases, and cargo inspection processes.
• Improve life expectancy, health outcomes, and access to health technology for First Nations peoples.
• Optimise transport routes, logistics, and supply chain operations.
• Optimise the performance, sustainability, and security of energy networks.

Program Stages

• Stage 1: Successful applicants will receive up to $500,000 in funding for feasibility projects.
• Stage 2: Applicants with successful feasibility projects will be invited to apply for up to $5 million in funding to develop technology demonstrator projects and proof of concept.

The CTCP is a commitment from the National Quantum Strategy released in 2023. It builds on previous quantum investments that contribute to the growth of Australia’s quantum industry and the adoption of quantum technologies across the economy.

It also builds on additional sources of capital for quantum companies, including:

• The $15 billion National Reconstruction Fund (NRF), and
• The $392 million Industry Growth Program.

More information is available at: https://business.gov.au/CTCP2