Feds award $23M to Coquitlam Tech Company

James Larson

23 Dec 2025 — 7 min read

The Canadian federal government awarded up to $92 million to four technology companies in December 2025 to support the development of quantum computing and keep talent in Canada.

The Canadian government has provided funding to four companies as part of a new program to support the country's quantum technology industry. Coquitlam-based Photonic Inc. is one of the companies that will receive money, with an award of up to $23 million. The other companies selected are Anyon Systems, Nord Quantique, and Xanadu Quantum Technologies. Each of these companies is eligible for up to $23 million. The funding is the first phase of the Canadian Quantum Champions Program. This program is part of a larger government plan called the National Quantum Strategy, which aims to strengthen research, talent, and business in the quantum field. The government has committed $360 million to this strategy.

This new program was announced by Evan Solomon, the Minister of Artificial Intelligence and Digital Innovation. The goal is to encourage companies to stay in Canada and to support the growth of jobs and technology within the country. It is projected that the quantum sector could add $17.7 billion to the economy and create over 157,000 jobs by 2045. The program was created partly in response to a United States military program that has been attracting Canadian quantum companies. To receive the funding, companies must keep their main offices in Canada.

Quantum technology is based on the physics of very small particles and is already used in devices like phones. Companies are now using it to build quantum computers, which can solve very difficult problems much faster than current computers. The government support is for the development of fault-tolerant quantum computers, which are systems designed to work correctly even when errors occur. The National Research Council of Canada, which has expertise in quantum research, will be responsible for evaluating the technical progress of the companies receiving funds. This will help ensure the technology is developing as expected. Photonic has stated its goal is to build the world's first large-scale, fault-tolerant quantum computer. The company employs over 150 people and received $138 million from investors in 2023.