Holland & Knight and Quantum Coast Capital are proud to co-host “The Quantum Horizon: Navigating the Future of Technology, Policy, and Law” on Thursday, December 12, 2024

In 2018, quantum science made its debut on the national stage in a way that few could ignore. Amid the hustle of Washington, a rare moment of bipartisan agreement emerged with the passage of the National Quantum Initiative (NQI) Act, an ambitious plan to cement the United States’ leadership in quantum technologies. It was the dawn of something new—an effort to harness the mind-bending potential of quantum computing, sensing, and communication to secure America’s future.

Fast forward six years, and the quantum momentum hasn’t slowed. In December 2024, lawmakers from both sides of the aisle came together again to reauthorize and expand the NQI. This wasn’t just a bureaucratic renewal—it was a signal to the world that the U.S. isn’t content to rest on its laurels. Instead, the country is doubling down on quantum science, with a sharper focus on turning research into real-world solutions.

From Vision to Reality

When the original NQI Act passed, its ambitions were lofty: establish research centers, build a quantum-ready workforce, and foster collaboration between government, academia, and industry. By all accounts, it worked. Quantum hubs sprung up across the nation, training the next generation of scientists and engineers while pioneering breakthroughs that seemed straight out of science fiction.

But as these discoveries matured, so did the urgency to act. It’s one thing to decode the mysteries of quantum mechanics in a lab. It’s another to build systems that protect sensitive data, revolutionize logistics, or model the future of our planet. The new National Quantum Initiative Reauthorization Act reflects this shift. Sponsored by a bipartisan quartet of Senators—Maria Cantwell (D-Wash.), Todd Young (R-Ind.), Dick Durbin (D-Ill.), and Steve Daines (R-Mont.)—the legislation moves beyond discovery to application, charting a course for the next decade of quantum innovation.

A $2.7 Billion Bet

The numbers tell the story of America’s quantum ambitions. The reauthorization allocates $2.7 billion to agencies like the National Institute of Standards and Technology (NIST), the National Science Foundation (NSF), NASA, and the Department of Energy (DOE). These funds are not just for research—they’re meant to push the boundaries of what quantum technology can do.

Imagine a future where quantum computers create unbreakable encryption to protect our data, simulate new drugs to cure diseases faster, or design climate models that predict and mitigate disasters before they happen. This is the future the U.S. is investing in—a future where quantum isn’t just a buzzword but a tool shaping everyday life.

The act also ensures the program continues through 2034, giving researchers the time they need to bring quantum out of the lab and into industries that touch us all.

Cutting Through the Red Tape

Innovation moves fast, but bureaucracy doesn’t always keep up. Recognizing this, the reauthorization prioritizes efficiency. By introducing clear metrics for success and reducing administrative hurdles, the legislation aims to accelerate quantum’s journey from research to reality. The goal? Make sure the billions invested deliver tangible results, and quickly.

This pragmatic approach reflects a broader shift in how governments and industries think about quantum. It’s no longer enough to be visionary; success now depends on execution.

A United Effort

What’s perhaps most remarkable is how quantum technology has brought people together. At a time when political divisions seem insurmountable, the NQI has remained a beacon of bipartisan collaboration. Leaders from across the spectrum recognize that in the quantum race, the U.S. cannot afford to fall behind.

The private sector is also stepping up. Companies large and small are working alongside federal agencies, turning theoretical breakthroughs into tools that will shape industries ranging from finance to healthcare. For firms like Quantum Coast Capital, the reauthorization signals not just progress, but opportunity.

The Future is Here

Quantum is no longer a distant dream; it’s happening now. With billions in funding, a growing ecosystem of talent, and a united commitment to progress, the United States is poised to lead the next technological revolution. The NQI’s reauthorization isn’t just a renewal of a program—it’s a renewal of the belief that science and innovation can solve humanity’s greatest challenges.

In the quantum world, uncertainty is a feature, not a bug. But one thing is certain: the United States is betting big on a quantum-powered future, and the stakes couldn’t be higher.

Today, Matt Cimaglia, Founder and Managing Partner of Quantum Coast Capital, joined an esteemed panel of quantum pioneers for a dynamic discussion as part of the “You Belong in Quantum” virtual series. The event, hosted by the Quantum Systems Accelerator in collaboration with four U.S. Department of Energy (DOE) National QIS Research Centers, brought together leaders in quantum science to explore how breakthrough ideas are transforming into real-world applications.

Alongside Christopher Monroe, Amanda Stein, and Kristen Pudenz, Matt shared insights on the evolving quantum startup ecosystem and the challenges and opportunities in transitioning quantum innovations from research to application. The panel discussed key themes, including:

• The Journey from Idea to Application: Strategies for advancing quantum innovations from the lab to industries like healthcare, logistics, and cybersecurity.
• Building a Sustainable Quantum Ecosystem: The role of early-stage investment and collaboration in fostering growth among quantum startups.
• Diversity and Inclusion in Quantum Science: How broadening participation strengthens the field and unlocks its full potential.
• Real-World Applications of Quantum Technology: Examples of quantum breakthroughs already shaping industries and society.

Reflecting on the discussion, Matt emphasized the importance of collaboration and strategic investment in accelerating the impact of quantum technologies.

“The transition from academic innovation to practical application is one of the greatest challenges for quantum startups,” Matt said. “By fostering a sustainable ecosystem that combines early-stage investment, collaboration, and inclusivity, we can empower founders to turn groundbreaking ideas into transformative realities.”

The event highlighted the collaborative efforts of the DOE’s National QIS Research Centers, including Q-NEXT, the Co-design Center for Quantum Advantage (C2QA), the Superconducting Quantum Materials and Systems Center (SQMS Center), and the Quantum Science Center, in advancing quantum research and technology.

The panel discussion also underscored the importance of building an accessible quantum ecosystem that welcomes founders, researchers, and students alike. The insights shared during the event reaffirmed the collective commitment to shaping a quantum-powered future.

Continuing the Conversation

The “You Belong in Quantum” series serves as an essential platform for engaging thought leaders, fostering collaboration, and inspiring the next generation of quantum innovators. Stay connected with Quantum Coast Capital to learn more about upcoming events and thought leadership in quantum technology.

This past week, Matt Cimaglia, Founder and Managing Partner of Quantum Coast Capital, participated in a keynote discussion at the Miami IBM Quantum Fest 2024, held at Miami Dade College. The event brought together students, educators, and industry leaders to explore the transformative potential of quantum technology, with a special emphasis on the role of IBM Qiskit in advancing the field.

The discussion, moderated by Teresa “Terry” Grandal Cusse, M.S., and Kevin Robinson, highlighted the importance of fostering innovation in quantum computing and supporting the next generation of talent in this rapidly evolving space. Matt discussed topics with the audience ranging from the practical applications of quantum technology to its broader impact on industries and economies worldwide. Additionally, he underscored the significance of tools like IBM Qiskit in democratizing access to quantum computing and enabling researchers, developers, and students to experiment, innovate, and solve real-world problems.

“The enthusiasm and curiosity I witnessed at Miami IBM Quantum Fest is a powerful reminder of the role education and collaboration play in advancing quantum technology,” Matt shared. “With tools like IBM Qiskit, we’re empowering the next wave of innovators and shaping a future where quantum computing becomes a critical part of our technological landscape.”

As the keynote guest, Matt’s participation underscored Quantum Coast Capital’s mission to drive innovation and build a sustainable venture ecosystem for early-stage quantum companies. His insights and the lively engagement from attendees reflected the shared vision of making quantum computing a cornerstone of future technological advancements.

The Miami IBM Quantum Fest 2024 was a testament to the power of learning, sharing, and exploring quantum concepts. By spotlighting IBM Qiskit’s role and fostering collaboration across disciplines, the discussion inspired a collective effort to turn the promise of quantum technology into a reality.