BDC Allocates $1 Billion to Quantum and Deep-Tech Ecosystems

VERA Brief

AI-generated. Grounded in the article and its cited sources.

The Business Development Bank of Canada (BDC) is allocating $1 billion to support quantum computing and deep-tech sectors in Canada. This initiative aims to address funding gaps and bolster sovereign supply chains.

Key facts

• The Business Development Bank of Canada (BDC) has committed $1 billion to quantum computing and deep-technology ecosystems.
• The allocation includes $500 million for indirect investments through a BDC Defence Fund.
• An additional $200 million has been designated for StrongNorth, BDC's direct early-stage venture capital fund.
• This strategy intends to bridge funding gaps for Canadian hardware and deep-tech startups.
• The initiative aligns with the National Quantum Strategy, emphasizing sovereign supply chains and commercialization.