The Israel Innovation Authority (IIA) and the Defense Ministry’s Directorate of Research and Development (MAFAT) announced that they will allocate NIS 200 million (about $62.1 million) to build Israel’s first quantum computer.

Quantum computation ability will lay the technological foundation for an Israeli ecosystem that will lead to future developments in security, economics, technology, engineering, and science, the organizations said.

Quantum computers, unlike classic computers, are based on the properties of quantum physics to store data and perform vast amounts of computations. They can be extremely beneficial for certain tasks where they could considerably outperform even the best supercomputers.

Quantum computing “significantly reduces calculation time frame and therefore constitutes a significant leap in computational capabilities,” a joint statement from IIA and MAFAT said.

Israel’s investment in the quantum computer will be directed towards two tracks. In the first track, the Israel Innovation Authority will focus on building and developing a quantum computational infrastructure for running calculations directly or via cloud access, to optimize or improve different elements in quantum computing. The infrastructure will assess existing algorithms and will implement research and development in all layers of software and hardware, but will not include fabless installations. Technology from abroad may be partially used initially, but then the infrastructure will be integrated with Israeli-developed quantum processors and technologies.

For further information on Quantum Computing from Israel, contact the Economic and Trade Department at the Consulate General of Israel in Mumbai.

Siddhant Gupte; Trade Officer, Mumbai