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University-Industry Engagement Advisor

U of Maryland launches new accelerator for quantum tech start-ups

By Jesse Schwartz
Published: April 27th, 2021

The University of Maryland (UMD) has launched a new accelerator to help quantum-focused start-ups take their technologies to market.

Backed by a $25 million investment from the newly formed UMD Discovery Fund, the Quantum Startup Foundry (QSF) will support technology development and connect quantum start-up founders with mentors, existing companies, and infrastructure.

UMD president Darryll J. Pines says QSF will help cement the university’s position as the “capital of quantum,” an area he says is “poised to disrupt everything from cybersecurity and energy, to medical discoveries and the financial field.”

The new accelerator also draws from the Mid-Atlantic Quantum Alliance (MQA), composed of universities, major corporations, start-ups and government labs. Led by UMD, the 24-member MQA is a growing hub of quantum technology education, research, development and commercialization.

Julie Lenzer, chief innovation officer at UMD and head of QSF, says the new accelerator will also be able to support quantum start-ups from overseas through the university’s Maryland International Incubator (MI2).

“While the promise of quantum may seem far off, it’s not,” Lenzer says. “The future is quantum, and it starts now.”

Source: Cision

Posted under: Tech Transfer e-News

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