As Chicago continues to become a hot spot for quantum computing, the city is getting the first accelerator program in the country that's dedicated to startups focused on quantum science and technology.
On Wednesday, the University of Chicago’s Polsky Center for Entrepreneurship and Innovation announced the launch of Duality, an accelerator program that's designed to support quantum startups. It's the first such accelerator in the United States, according to the University of Chicago, which is investing a minimum of $20 million in the project over the next 10 years.
Duality's 12-month accelerator program will provide startups with $50,000 and access to office and lab space. The program will select up to 10 quantum startups per year, and companies can apply to be part of the first cohort by May 14.
The accelerator's goal is to help bring quantum innovations from the lab to the market, the university said, with the first cohort taking place virtually in July. The program will continue in person when Covid-19 restrictions lift and will be based at the University of Chicago Booth School of Business.
The news comes as Chicago continues to position itself as a leader in quantum technology and research. Last year the U.S. Department of Energy established five new National Quantum Information Science Research Centers, two of which are in the Chicago area: Argonne National Laboratory and Fermi National Accelerator Laboratory. Both facilities are projected to receive $115 million in funding over the next five years as part of the initiative.
And last year the University of Chicago, the University of Illinois at Urbana-Champaign and the University of Wisconsin-Madison announced they're partnering on a new quantum computing institute that will explore new ways to create and connect quantum computers and networks. It's part of a $25 million, five-year award from the National Science Foundation.
The University of Chicago first started building a quantum information science program in 2013, and in 2017 launched the Chicago Quantum Exchange to bring together academia, industry and government leaders to advance quantum technologies.
“We are building the future of technology right here in Chicago,” Chicago Mayor Lori Lightfoot said in a statement. “This program taps the extraordinary talent in the city across fields from science and innovation to entrepreneurship, manufacturing and development, and is a testament to the strengths of this incredible city and its residents.”
