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Mike Lazaridis And Doug Fregin Unveil $100 Million Quantum Valley Fund, Focusing On Commercializing Quantum Technology Breakthroughs

Speaking about the potential impact of the new fund on jobs and the economy, Gord Nixon, President and Chief Executive Officer of Royal Bank of Canada and Chair of the Ontario Jobs and Prosperity Council said, "At a time, when international competition faced by Canadian companies has increased dramatically and the need for innovation in this country is key, this initiative is both welcome and timely.  Building on their support and commitment for quantum physics in the Waterloo Region over many years, these nation builders have once again put their money where their mouth is to help keep Canadian breakthroughs in Canada.  These transformational initiatives are critical to our future competitiveness." 

Kevin Lynch, Vice-Chair of BMO Financial Group, Chair of the Board of Governors of the University of Waterloo and Vice Chair of the Ontario Jobs and Prosperity Council added, "Executing on a well thought out strategy that started 12 years ago, Mike and Doug have developed a model for innovation that is compelling.  These visionaries have not only created a platform that will help with value creation in Canada, but in doing so have created the foundation for a quantum commercialization infrastructure in the Waterloo Region that will help to promote breakthroughs, industries and jobs in this Region for years to come. It is great for Waterloo, for Ontario and for Canada."

Mr. Lazaridis concluded, "Today we move forward on the next step toward a Quantum Physics Technology Commercialization infrastructure that will lead to new jobs, industries and value creation in this country. As suggested by its name, Doug and I believe that the private fund we are launching today will help lead to the 'Quantum Valley' here in Waterloo." 

For more information about Quantum Valley Investments, go to: www.quantumvalleyinvestments.com

SOURCE Quantum Valley Investments

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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