Applications Open For Creative Destruction Lab’s Quantum Development Stream
Creative Destruction Lab (CDL) is a nonprofit organization that delivers an objectives-based program for massively scalable, seed-stage, science- and technology-based companies.
The nine-month program employs an objectives-based mentoring process to enhance the performance of technical founders who learn from the insights of experienced entrepreneurs, with the goal of maximizing equity-value creation. Founded in 2012 by Professor Ajay Agrawal at the University of Toronto’s Rotman School of Management, the program has expanded to nine sites across four countries: Oxford, Paris, Atlanta, Madison, Vancouver, Calgary, Montreal and Halifax.
The Quantum Stream at CDL-Toronto brings together entrepreneurs, investors, scientists in quantum technologies, and quantum technology partners (D-Wave Systems, IBM Q, Rigetti Computing, Xanadu and Zapata Computing) to build ventures in the emerging domain of quantum computing, machine learning, optimization, sensing and other applications of quantum technologies. CDL Quantum was started in 2017 with the help of Professor Peter Witek, and since then over 80 companies have been involved in the program, with those startups raising over $100 million USD in equity.
CDL Quantum startups work with mentors to sharpen objectives, prioritize time and resources, raise capital, and engage with experts working on the frontiers of research.
Some features of CDL Quantum include:
- Mentorship from experienced quantum operators
- Access to quantum systems from a range of providers, including D-Wave, IBM Q, Rigetti, Xanadu and Zapata Computing
- Extensive 4-week bootcamp that includes technical training from hardware providers, business guidance from leading industry professionals and academics, and multi-platform Quantum Hackathon
- Technical validation and feedback from leading academics researchers
- Guidance on strategy and business development
- Opportunities to raise capital from angel investors and top-tier venture capital firms in the CDL network
CDL Quantum mentors are exited entrepreneurs, successful operators, angel investors, and VC partners:
- Alan Baratz; CEO of D-Wave, the world’s first company to sell computers using quantum effects, and who just secured $40 million in funding from the Canadian government
- Michael Helander; CEO of OLED company OTI Lumionics that went through CDL twice, once through Prime and then through Quantum. Through the CDL program, OTI Lumionics developed their quantum chemistry/simulation department & Michael returned to mentor in the program after his company’s success
- Maryanna Saenko; co-founder of Future Ventures, early-stage Venture Capital firm that invests in frontier technologies across diverse industries
- Christophe Jurczak; co-founder of Quantonation, the first deeptech fund dedicated to deep physics startups with a focus on Quantum Technologies
The final deadline to apply for this year’s CDL Quantum stream is May 23rd, 2021:
- Learn more on the CDL website
- Join a 30-min webinar to hear from an alumni founder about their experience in CDL Quantum
Apply now for CDL Quantum
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MENTIONED IN THE ARTICLE
University of Toronto
The University of Toronto, situated in Toronto, Ontario, Canada, is a public research university located around Queen's Park. It was established by royal charter in 1827 as King's College, making it the initial higher education institution in Upper Canada. Originally under the Church of England's jurisdiction, the university adopted its current name in 1850 as it transitioned into a non-religious institution.
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IBM
IBM is an iconic technology pioneer founded in 1911 as the Computing-Tabulating-Recording Company and officially renamed International Business Machines Corporation in 1924. Beyond foundational computing, IBM possesses a deep legacy in aerospace and defense from building the guidance computers and Instrument Unit for NASA's historic Apollo missions to partnering with Airbus on CIMON, the first AI assistant on the ISS.
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Rigetti Computing
Rigetti Computing develops integrated quantum computers and superconducting processors specialized for complex aerospace optimization and satellite communication tasks, including collaborations with the U.S. Air Force. Founded in 2013, the firm produces modular, multi-chip processors internally and provides cloud-based access for large-scale, complex simulations.
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Xanadu
Xanadu is a Canadian photonic quantum computing company founded in 2016 that is building fault tolerant systems utilizing light. The company collaborates with defense and hardware partners like AMD and Lockheed Martin to accelerate computational fluid dynamics simulations and train an aerospace engineering workforce.
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Zapata AI (operations ceased)
Zapata develops quantum software and algorithms for business. They offer a suite of generative AI solutions for enriching analytics and customizing large language models.
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Quantonation
Quantonation is an Early Stage Venture Fund dedicated to Deep Physics startups with a focus on the emerging and disruptive field of Quantum Technologies.
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