TORONTO/MONTRÉAL, April 11, 2024 – Creative Destruction Lab (CDL), a global seed-stage program for massively scalable, science-based companies, announces a strategic partnership expansion within its Quantum Stream. CDL Quantum was initially launched at CDL-Toronto in 2017 at the Rotman School of Management, University of Toronto. The stream is now partnering with CDL-Montreal, which is operated by Executive Education at HEC Montreal, to further propel the growth and innovation within the emerging quantum technology sector.
Since its inception, the CDL Quantum Stream has been instrumental in fostering groundbreaking quantum startups, contributing to approximately one-fifth of all quantum startups worldwide. Moreover, alumni ventures from the CDL Quantum Stream have collectively raised over $825 million CAD, showcasing the program’s efficacy in nurturing quantum innovation.
“CDL Quantum has had an enormous impact on building the ecosystem for quantum startups. Our graduates continue to push the boundaries of what is possible in this nascent domain and have built some extraordinary companies in the process,“ says Francesco Bova, Academic Lead of the Quantum stream at CDL-Toronto.
The collaboration between CDL-Toronto and CDL-Montreal presents a significant opportunity to solidify CDL Quantum’s leadership position in the field while establishing vital connections between two of Canada’s largest quantum hubs. Additionally, the pooling of resources and networks through this partnership creates greater incentives for local ecosystems to become involved and for funding opportunities to be realized worldwide.
“We are proud to join this incredibly successful Stream led by the team at CDL-Toronto. We aim to mobilize the deep research and strong talent found here in our Quebec Quantum hub centred in Sherbrooke, with key contributions from Bromont, Quebec and Montreal. Leveraging HEC Montreal’s business expertise, we hope to continue accelerating the commercialization of this groundbreaking technology.” – Julien Billot, Site Lead of CDL-Montreal
Quebec is a key player in all quantum sciences and technology sub-sectors. Quebec’s quantum advantage lies with its talent pool; a critical mass of scientists and infrastructures, and world-renowned researchers. Sherbrooke, Quebec is home to renowned international leader in quantum research, Sherbrooke University as well as a state-of-the art quantum research centre — the Institut Quantique.
This new expansion underscores CDL’s commitment as a non-profit to fostering innovation and entrepreneurship.
Applications for this year’s CDL Quantum program are open until May 21, 2024. Quantum ventures interested are encouraged to reach out to quantum@creativedestructionlab.com.
For more information about Creative Destruction Lab and its Quantum Stream, visit creativedestructionlab.com/streams/quantum.
About Creative Destruction Lab
Creative Destruction Lab (CDL) is a nonprofit organization that delivers an objectives-based program for massively scalable, seed-stage, science- and technology-based companies. Its nine-month program allows founders to learn from experienced entrepreneurs, increasing their likelihood of success. Founded by Professor Ajay Agrawal in 2012 at the University of Toronto’s Rotman School of Management, the program has expanded to 13 sites across seven countries: Oxford, Seattle, Paris, Atlanta, Madison, Vancouver, Calgary, Montreal, Halifax, Berlin, Estonia, and Melbourne.
About Rotman School of Management
CDL-Toronto operates out of the Rotman School of Management, University of Toronto, a global centre of research and teaching excellence at the heart of Canada’s commercial capital. Rotman is a catalyst for transformative learning, insights and public engagement, bringing together diverse views and initiatives around a defining purpose: to create value for business and society.
About Executive Education, HEC Montréal
Executive Education HEC Montréal has been fostering the growth of people and organizations for the past 70 years. Ranked 1st in Quebec and 2nd in Canada in the 2023 Financial Times list of top executive education programs, Executive Education HEC Montréal caters to the needs of 9,000 learners every year, with more than 100 short programs available in class, online or in the workplace. A member of UNICON, the leading global consortium for university-based executive education, with 115 members in 30 countries, it has been operating out of HEC Montréal’s new downtown building since fall 2023.
Media Contacts
Amarpreet Kaur
Associate Director
Creative Destruction Lab
amarpreet.kaur@creativedestructionlab.com
