Elevate Quantum Tech Hub will receive $40.5 million in federal funds as Colorado and its partners move forward with plans to create a regional quantum tech hub.

“This decision shows that America is serious about being a global leader in quantum technology, the future of computing,” Gov. Jared Polis said in a statement Tuesday. “Colorado is the center of the quantum technology ecosystem and we are thrilled that the Biden Administration is supporting our work to develop the best minds, research, and innovation in the country.”

Elevate, a consortium of organizations across Colorado and New Mexico, was designated a regional Tech Hub by the Biden Administration last fall, enabling it to access funding from the Chips and Science law.

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