Creative Destruction Lab (CDL) is set to launch a new Quantum Machine Learning accelerator in Toronto, which further’s Canada’s pledge to become a hotbed for AI and ML talent and research.
Canada’s Creative Destruction Lab’s (CDL) primary mission is to enable the creation and growth of massively scalable, technology-based companies. They tend to work with a lot of start-ups and aim to promote the development of new and exciting technologies. They are now planning to move into the quantum machine learning sector (sounds complicated) by starting an accelerated entirely devoted to this relatively unknown field.
This accelerator will be run from the Rotman School of Management, which is part of the University of Toronto. According to TechCrunch, investment in this new program will come from “venture funds Bloomberg Beta, Data Collective and Spectrum 28.” With Canada’s recent investment in new technologies such as AI and machine learning, this program demonstrates that the Great White North is fast becoming the place for the development of and research in these new technologies.
CDL has been operating for five years now and over that time they’ve been helping researchers with expert knowledge in AI and ML build their applications and create their own start-ups. With the announcement of this new accelerator, CDL will be able to provide their researchers and start-ups with even more advanced tools and equipment so that they can realise their full potential. CDL is also looking to replicate its success in universities around the country, and thereafter, the world.
Not only will CDL’s Quantum Machine Learning initiative enable researchers to develop their own start-ups and turn them into world leading authorities on quantum machine learning, yet they also hope that it’ll convince new companies to settle in Canada, and draw young talent to their country.
Those who end up graduating from the program will receive $80,000 in funding in exchange for a small percentage of their companies, 7% to be exact, which will be split between the investors. Moreover, those who end up being accepted into the programme will have access to D-Wave’s 2000Q quantum computer, which is a pretty serious piece of quantum computing equipment.
Yet, that’s not all. Those who are part of the course will be mentored by industry leaders such as William Tunstall-Pedoe, Barney Pell, Geordie Rose, Sally Daub, Anthony Lacavera, Ted Livingston, James Cham, Matt Ocko, Lyon Wong and Steve Jurvetson, to name but a few.
The program will start in September and the CDL will be accepting up to 40 people or teams to their new accelerator. They are currently accepting application up until the 24th of July, so those who want to become part of this program had better get a move on. And don’t worry if you’re not living in Toronto, or even Canada. The CDL will help you to relocate and even offer assistance in obtaining a visa.