Prime Minister Scott Morrison announced an AU$111 million (approximately US$81 million) investment in quantum technology alongside the release of the Blueprint and Action Plan for Critical Technologies. Quantum was designated one of nine technologies for initial government focus. The announcement, published on the Department of Industry website, included AU$70 million for a Quantum Commercialisation Hub to foster strategic partnerships with allied countries and help Australian businesses access new markets.
A National Quantum Strategy and quantum technologies prospectus would be developed alongside the hub. A National Committee on Quantum, led by Chief Scientist Dr. Cathy Foley, was established to inform the strategy. Minister for the Digital Economy Jane Hume said the global quantum industry was expected to be worth at least AU$86 billion by 2040.
Morrison delivered the announcement in a speech to the Australian Strategic Policy Institute, linking quantum’s defense applications to the recently announced AUKUS agreement. The government estimated that quantum technology development could deliver AU$4 billion in economic value and create 16,000 new jobs by 2040.