Israel Innovation Authority Providing 115 Million NIS ($32.6M USD) for Developing Israeli QC Tech...

The funding of 115 million New Israeli Shekels (NIS) is being provided by the Israeli Innovation Authority to five Israeli companies including IAI Group's Elta Systems division, Quantum Art, Classiq, Qedma, and Rafael Advanced Defense Systems. The consortium will also receive additional support from academic researchers in Israel. The three year program will pursue developing of two different quantum processors, one based upon superconducting technology and the other based upon ion trap technology with sizes in the dozens of qubits. Additional information about this award can be found in a news article in the Israeli website Calcalist available here.

January 1, 2023