The University of Maryland, College Park is adding an incubator to bolster startup strength around its research expertise in quantum technology.
Launched Thursday with an announcement by UMD President Darryll J. Pines at an event dubbed Innovate Maryland, the Quantum Startup Foundry is being created through a $25 million investment from the university’s newly established Discovery Fund. A $10 million capital investment is also backing its creation.
The incubator is also partnering with the Mid-Atlantic Quantum Alliance, a 24-member group formed in January 2020 which includes universities, major corporations, startups and government labs working on quantum technology.
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