The University of Maryland (UMD) has launched a new business development arm to nurture quantum-focused start-ups.
President Darryll J. Pines announced the “Quantum Startup Foundry” at an event honoring UMD’s inventions, start-ups, mentors and student entrepreneurs. Pines said the quantum technology field stands “poised to disrupt everything from cybersecurity and energy, to medical discoveries and the financial field.” With an initial $25 million investment from the university’s newly established Discovery Fund along with key funding from the State of Maryland, the Quantum Startup Foundry will support new businesses in the quantum technology field.
You can learn more about the new initiative here.
Just two weeks ago, we posted this article when the University of Chicago’s Polsky Center for Entrepreneurship and Innovation and the Chicago Quantum Exchange have announced the launch of “Duality,” the first accelerator program in the nation that is exclusively dedicated to start-ups focused on quantum science and technology.