Here's what Rick Mercer doesn't know about how Canada stacks up in quantum computing
Yahoo Finance ·
Canada has long been a hotbed for quantum computing , but even Canadian comedian Rick Mercer doesn’t know what it is despite promoting the country’s prowess in it. “I have no idea what a quantum is, but I know we’re crushing it,” he said in a Business Development Bank of Canada television ad. But Mercer — and others — may know soon. The markets dubbed 2025 the year of quantum following a string of breakthroughs that turned even Nvidia Corp. chief executive Jensen Huang into a quantum bull and ignited a wave of investor interest and public listings, including one by Toronto-based Xanadu Quantum Technologies Inc . Companies are racing to find a way to build a scalable and useful quantum computer within the next decade, something industry proponents say will unlock new applications in everything from drug discovery to financial modelling. Get the latest headlines, breaking news and columns. A welcome email is on its way. If you don't see it, please check your junk folder. The next issue of Top Stories will soon be in your inbox. We encountered an issue signing you up. Please try again Canadian public and private investors have poured more than $2 billion into the field since 2002 and the Mark Carney government earmarked more than $334 million in the last budget. That may sound like a lot, but here’s how Canada’s quantum investments and players stack up against others. Canada has eight companies focused on quantum computing and technologies that received venture capital funding at the end of 2025, compared to 46 in the United States, 29 in China and nine in the United Kingdom, according to researcher PitchBook. Xanadu is the only publicly traded Canadian pure-play quantum computing company, but Montreal-based Quantum eMotion Corp. and Vancouver’s BTQ Technologies Corp., which are focused on quantum security and post-quantum technologies, have also made their public debut. “This is show time,” said Michele Mosca, a professor and co-founder of the Institute for Quantum Computing (IQC) at the University of Waterloo in Ontario and chief executive and cofounder of evolutionQ Inc., a quantum-safe cybersecurity firm. Ontario startup aims to solve what may be the biggest threat to globally secure communication Quantum computing is a once-in-a-lifetime opportunity for Canada. Here's how we can grow the industry at home
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