The federal government announced $7.2 million CAD in funding for a company creating a Wi-Fi based security device, at a Waterloo event on Thursday.
Using the radio frequencies of Wi-Fi, Cognitive Systems’ WiFi Motion technology utilizes radio frequency waves like those produced by your Wi-Fi router to track the movement of people in your home. It also uses AI and predictive analysis to enable IoT and smart home features.
The federal government is preparing for a future where artificial intelligence and quantum technology will have a significant impact on industries like security and health. It announced another $33.8 million in funding for two more Waterloo-based companies and a non-profit at the same event.
“Simply put, quantum mechanics allows us to do things that are impossible under classical rules,” said former RIM founder and co-founder of the Quantum Valley Investments Mike Lazaridis in a statement. He hopes the attraction of top talent will mean the success of Canadian business ventures in the field.
The quantum field of physics is the study of the extremely small subatomic level of matter. Proposed applications include computers that can potentially crack today’s encryption technology, and offer new ways to construct even smaller electronics.
The Quantum Valley Ideas Lab is slated to receive $20 million from FedDev Ontario to help companies in the quantum field scale and grow in the Waterloo region. It’s a non-profit that plans on developing a team of experts in the field from backgrounds including engineering, computing and research.
It leverages local support systems like the Lazaridis Institute and the Perimeter Institute to foster innovative approaches to the technology.
Additionally, quantum security company ISARA will get $7.2 million to create communication encryption technology that aims to be resilient against future quantum attacks. Heath tech company High Q Technologies is set to receive $6.5 million to develop medical equipment enabled by advances in quantum technology.