THN! News - Elevate Quantum Awarded $127 Million

Elevate Quantum has been awarded a Tech Hub Phase 2 grant

Author

Wendy Lea
July 03, 2024

Dear Partners and Colleagues, 

We are thrilled to announce that Elevate Quantum has been awarded a Tech Hub Phase 2 Implementation grant from the Department of Commerce. This milestone, achieved through the collaborative efforts of 116 organizations across the Mountain West region, is a testament to our shared vision and dedication. The initial $40.5 million in EDA funding, combined with matching funds from Colorado ($77 million) and New Mexico ($10 million), marks the beginning of a new era in US quantum leadership centered in our region.

When TechHubNow! formed in May 2023, our small team was focused on identifying and submitting the strongest proposals for the US EDA Tech Hub Phase 1 program. We supported putting forth two proposals to the EDA, one of which was Elevate Quantum.

We officially launched in early 2023 and are thrilled to celebrate Elevate Quantum’s major win for the Mountain West Region. Elevate Quantum is one of twelve tech hubs that received funding from the US EDA to strengthen economic competitiveness and national security and accelerate the growth of future industries. 

THE FUTURE OF QUANTUM TECH IN THE MOUNTAIN WEST

By 2030, the following milestones will have been achieved:

  • Creation of over 10,000 quantum jobs

  • Establishment of world-class open-access quantum facilities

  • Activation of over $2 billion in private capital for quantum

  • Development of a first-class workforce

“The quantum sector is one of the key industries of tomorrow, and I’m thrilled the Biden administration is awarding Colorado a TechHub designation for quantum technology. We will take full advantage of this decision to help create jobs and support businesses and entrepreneurs because Colorado is the best place for tech and innovation.”

Governor Jared Polis

MANY THANKS TO THESE LEADERS

  • Corban Tillemann-Dick, Co-founder and CEO of Maybell and Chair of Elevate Quantum

  • Zachary Yerushalmi, Chief Executive and Regional Innovation Officer of Elevate Quantum

  • The hundreds of organizations and individuals whose time, energy, and expertise were invaluable to getting Elevate Quantum to this point.

STAY UP-TO-DATE ON WHAT’S NEXT

Thanks for your continued support.

The TechHubNow! Team

Wendy Lea, Brooks Johnson, and JB Holston

“Through the Tech Hubs program, we maintain our competitive edge by advancing America’s leadership in commercializing critical emerging tech sectors. And we’re leveraging the diverse talent and resources across the country to achieve this goal. Thanks to President Biden’s commitment to his investing in America agenda, these 12 Tech Hubs will play a critical role in accelerating America’s leadership in the industries of the future, all while creating high-quality, family-sustaining 21st-century jobs in people’s backyards.”

- U.S. Secretary of Commerce Gina Raimondo

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