Silicon Quantum Computing Pty Ltd (SQC) was established in 2017 as a spin-off from the University of New South Wales, founded by Professor Michelle Simmons. At incorporation, the company raised AU$83 million (approximately US$66 million) from a consortium comprising the Australian federal government, the New South Wales state government, the University of New South Wales, Telstra, and the Commonwealth Bank of Australia. The federal government contributed AU$25 million, and the NSW government contributed AU$8.7 million, making the state a 10.5 percent shareholder.
SQC develops quantum computers using phosphorus atoms manufactured within silicon, an approach within the field of spin qubits. The company’s formation represented the first major public-private investment in a dedicated quantum computing company in Australia, as described by the National Reconstruction Fund Corporation.