Computing has come a long way, yet there remains a myriad of problems that traditional computers cannot solve, and making them faster simply isn’t enough. Today, we may be standing on the brink of a technological leap that could help to overcome this challenge: the advent of quantum computers. While still relatively nascent, the quantum computing industry is projected to create $450 billion to $850 billion of economic value, sustaining a market between $90 billion to $170 billion for hardware and software providers by 2040. But not all quantum computers are created equal, and some approaches are better suited to taking this leap.  

Progress in quantum computing is primarily driven by advancements in hardware, specifically the development of quantum bits (qubits). While various approaches have shown promise, current systems still lack the scale to outperform classical supercomputers. Each hardware approach is associated with distinct strengths and challenges such as large space and energy requirements, and the prohibitive costs of development, infrastructure and maintenance. This makes achieving ‘utility scale’ a critical benchmark, where a quantum computer’s commercial value exceeds its operational costs.  

One country that stands out in the development of this field is Australia, which boasts a long history of excellence in quantum technology. Australia’s reputation for high-quality research and successful commercialisation in this field can be traced to forward-thinking policy and investment approach centred around the establishment of the Centre for Quantum Computer Technology in the late 1990s, two Centres of Excellences dedicated to quantum technologies established in the early 2000s, attracting international government investment and the collaboration across over 20 quantum-related research institutions across Australia.  

Alongside world-class research, the pool of quantum talent in Australia has been further deepened by programs including the introduction of the world’s first Bachelor of Quantum Engineering degree at UNSW. This course is designed to equip the next generation of engineers with the skills required to ensure Australia’s quantum advantage. This hotbed of quantum talent has also bred a host of start-ups intent on commercialising the research capital established in Australia over the past two decades.  

As these start-ups turn research into real-world solutions, the key challenge now is whether Australia can maintain its leadership by scaling quantum technology to utility scale. Given all approaches being pursued have shown the ability to produce high performance qubits, the true indicators of utility scale will be determined by whether an approach meets three key criteria: manufacturable, scalable and easily integrated with classical electronics.  

Diraq is an example of a company that shows potential across these criteria and spun out of UNSW in 2022. Diraq’s approach using silicon ‘quantum dot’ technology has already demonstrated manufacturability using the same standard processes that are used to manufacture the chips in our laptops and phones. In addition, this technology can scale to many millions of qubits on a single chip, resulting in a significantly smaller footprint for a utility scale system compared to other approaches. Furthermore, integration with classical electronics is possible due to this reduced footprint and shared silicon base. These combined aspects allow Diraq’s technology to plug into existing data centres and high-performance computers.  

Diraq’s success reflects a broader momentum building within Australia’s quantum sector, where cutting-edge research is increasingly translating into commercial breakthroughs. Australia’s strength in quantum innovation is not limited to research—it’s increasingly recognised for its dynamic start-up ecosystem. Globally, Australia is renowned for its strong academic foundations, and companies like Diraq are actively collaborating with leading technology firms and other quantum computing startups and researchers around the world.  

Governments are increasingly recognising quantum technologies as strategic national priorities, with Australia releasing its National Quantum Strategy in 2023. International initiatives like the U.S. Defence Advanced Research Projects Agency’s (DARPA) Quantum Benchmarking Initiative (QBI) aim to rigorously assess whether any quantum computing approach can reach utility scale by 2033. Currently, 18 companies pursuing numerous approaches have been awarded stage A contracts, including Diraq. Meanwhile, private investment in quantum computing reached over $1.25 billion in capital raised in Q1 2025. This is more than double the previous year, reflecting increased momentum as the industry moves towards commercialisation.  

Ultimately, while progress has been remarkable, the path to utility scale quantum computing remains long and complex—demanding sustained innovation and funding. And if you ask Diraq’s CEO and Founder, Andrew Dzurak, this path is paved in silicon.