Mike Lazaridis and Doug Fregin, who together founded BlackBerry, announced today that they have partnered again to establish Quantum Valley Investments, a $100 million private fund that will provide financial and intellectual capital for targeting commercial applications for advancements in quantum science.
But, what exactly are breakthroughs in quantum science?
According to Lazaridis, one need look no further than Star Trek. “There’s this buzz around the world that this quantum information science is starting to bear fruit,” Lazaridis told Bloomberg in a video interview. “There’s even an X Prize for a medical tricorder like we saw in Star Trek. We’ve seen many of the devices and predictions of Star Trek come true, from the computer, voice activation, voice recognition, to the communicator in today’s smartphones and computers.”
âWeâve had researchers coming up to us with some really ground-breaking discoveries, and we could see the potential of those things,â Mr. Lazaridis said in an interview here. âThis isnât like venture capital. This isnât everybody in their garage or dorm room coming up with an idea and getting funded.â
The new investment fund has inked its first deal, Mr. Lazaridis said, without providing details. Investments from the fund will initially center around Waterloo. But Mr. Lazaridis said he could see researchers from other parts of the world eventually approaching him for funding.