The CEO of Canada’s quantum unicorn is very optimistic concerning the nation’s innovation potential.
Recently on The BetaKit Podcast, we spoke with a German immigrant who has been pretty vital of Canada’s method to innovation; he requested particularly for extra braveness and ambition.
Today, we’re talking with the Australian immigrant behind Canada’s quantum unicorn, Xanadu. His take? The vibes are good!
“We’ve been offered or at least suggested, ‘Why don’t you move your headquarters to the US?’ The only way we’ll move our headquarters outside of Toronto or Canada is if I get fired.”
Christian Weedbrook
Christian Weedbrook, CEO and founding father of Xanadu, supplies a refreshing perspective on the podcast this week relative to what BetaKit has been listening to en masse.
Some context: Weedbrook is a latest board member of Quantum Industry Canada and, up to now, QIC and Xanadu have a fairly good observe file of presidency help: $360 million CAD for a nationwide quantum technique; $40 million CAD to Xanadu via the feds’ Strategic Innovation Fund; and as Weedbrook put it, Xanadu is the “definition” of SR&ED credit. From his perspective, Canada is a fairly excellent spot to build a quantum firm.
Part of his optimism could be due to the truth that quantum simply doesn’t face the extent of consideration that AI does proper now—with out the ensuing struggle for expertise, froth out there, or ScarJo fudge-ups.
That’s as a result of the tech, should you can imagine it, is even sooner than AI. According to Weedbrook, no person is aware of what the suitable method is, even when he has a fairly good thought of the tip purpose: a quantum data centre.
What is a quantum data centre? don’t fear, we (he) clarify all of it on the podcast, traversing the spectrum of what the corporate provides now to what it hopes to supply at some point quickly… Soonish… OK, 2029.
Hey, quantum may at the moment be a smaller model of what we’re seeing within the AI sector, however they nonetheless want prospects. And cash, heaps and many cash.
Weedbrook was specific on this podcast that his firm is wanting to elevate another $100-200 million by yr’s finish or early subsequent yr—and hoping for an all-Canadian spherical, VC listeners take observe (prior to the $40-million CAD SIF funding, Xanadu’s final institutional spherical was $100 million USD in 2022, led by Georgian).
Why? Hardware is laborious. Quantum {hardware} is more durable (and costlier).
But it additionally comprises a lot of promise. And possibly it’s simply due to the stage of improvement nevertheless it at the moment doesn’t really feel just like the icky (or fraught) promise of AI. Again, the vibes are good proper now.
So… who’s going to give Canada’s quantum unicorn a re-up? Let’s dig in.
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The BetaKit Podcast is hosted by Douglas Soltys & Rob Kenedi. Feature picture courtesy Xanadu.