Colorado’s quantum tech hub beats Illinois for coveted federal award

After President Joe Biden's administration designated the Mountain West’s quantum industry as one of 31 tech hubs in October, Colorado state leaders hoped the region would get on the program's shortlist for more funding — and more recognition.

The second phase of the new federal tech hub program was a key part in cementing Colorado as the center of the quantum computing industry.

This week, state leaders got what they were hoping for.

The Economic Development Administration announced Tuesday that Colorado's Elevate Quantum is among 12 tech hubs to receive funding for the U.S.’s most critical technologies – beating out Illinois' quantum tech hub.

Elevate Quantum is a nonprofit based in Denver representing the Mountain West tech hub covering Colorado, New Mexico and Wyoming. It won an extra $40.5 million grant from the Biden administration.

"This decision shows that America is serious about being a global leader in quantum technology, the future of computing,” Gov. Jared Polis said in a the news release.

Colorado was competing against Illinois — the only other federally designated quantum region — to make the Biden administration's tech hub program's shortlist for the second phase of funding.

Illinois still won a federal grant, but for its fermentation and biomanufacturing tech hub.

The investment aims to “solidify” Colorado’s quantum computing technology role in advancing artificial intelligence, climate tech and healthcare, the EDA said.

The grant is also a “down payment” on the next 50 years of America’s quantum technology, according to a statement from the University of Colorado Boulder, and expected to attract more private capital to the state.

The state could see an influx of $2 billion in private investment as a result of this announcement, university officials said.

The Elevate Quantum region is home to four Nobel laureates, three national labs and more than 40 research labs, according to the university.

The second-phase of Biden’s tech hub program also unlocked $74 million in state funding into the quantum industry that was conditional on the federal award.

"This Phase 2 Quantum Tech Hub award will provide unprecedented opportunities for CU Boulder and other Colorado research institutions and businesses to translate cutting-edge quantum research into real-world impact for Colorado’s people and economy,” CU Boulder Vice Chancellor of Research and Innovation Massimo Ruzzene said in the release.