Quantum Computing Inc (OTCMKTS:QUBT) has received admission into the Quantum Economic Development Consortium (QED-C), a collaboration between the public and private sectors to advance the position of the United States in the industry.
The organization is filled with high-profile tech companies including Amazon (NASDAQ:AMZN), Google (NASDAQ:GOOG) and IBM (NYSE:IBM); academic institutions like Caltech and the University of Maryland and Colorado; and government agencies such as the Department of Defense and the National Science fund.
The National Institute of Standards and Technology, a government agency tasked with promoting US innovation and competitiveness, created the QED-C.
The consortium uses funding from the government and its private company members to collaborate on research and development projects, share intellectual property and guide federal research priorities to create an efficient quantum technology supply chain.
“I’m honored to have Quantum Computing Inc join the QED-C,” CEO Robert Liscouski said in a statement. “I believe our participation will allow us to contribute to an important government initiative and create partnerships with key players and thought leaders in the quantum computing industry.”
“Government support through a national quantum strategy will help guarantee the continued growth of the US quantum computing industry. Our focus on developing software applications for quantum computing will serve an important role in this rapidly growing ecosystem of quantum computing technologies by providing a bridge for customers to this cutting-edge technology.”
Quantum Computing saw its shares jumped 10% Monday morning to $5.50.
Contact Andrew Kessel at [email protected]
Follow him on Twitter @Andrew_Kessel