What does it take to build a thriving quantum ecosystem from the ground up? Martin Laforest, physicist-turned-venture-capitalist at Quantacet, reveals how Quebec transformed a 1970s academic bet into a $400M quantum powerhouse—and why the industry's biggest misconception is thinking quantum computing is either a science problem or an engineering problem when it's clearly both.

Summary
In this conversation, Sebastian sits down with Martin Laforest, partner at Quantacet, Canada's quantum-only VC fund, to explore the messy realities of building quantum companies and ecosystems. Martin brings a rare perspective: PhD from Waterloo's Institute for Quantum Computing, eight years leading scientific outreach, a stint building a post-quantum cryptography startup with ex-BlackBerry executives, and now investing in the quantum future.

This episode is for anyone trying to understand how quantum technology actually gets built—not the hype, but the infrastructure, the collaboration models, the government investment strategies, and the patience required. Whether you're technical or just curious about how transformative technologies emerge, Martin offers a grounded view of what's working, what's not, and why the quantum revolution looks more like slow, deliberate ecosystem building than overnight breakthroughs.

What You'll Learn

• Why quantum is both a science and engineering challenge and how the vacuum tube-to-transistor transition illuminates today's quantum journey
• How Quebec built a world-class quantum ecosystem starting from a 1970s university bet on condensed matter physics through to today's $400M provincial investment
• The infrastructure that matters: why Sherbrooke's six shared dilution fridges and quantum communication testbed represent a different collaboration model
• What VCs actually look for in quantum startups beyond the technology—and why Martin believes early-stage investing is about building great companies, not just returns
• The three most dangerous misconceptions plaguing quantum technology (spoiler: it's not just about quantum computers)
• How regional quantum ecosystems should compete and collaborate with lessons from Netherlands, Chicago, and UK programs
• Why fundamental research funding can't stop even as commercialization accelerates—and what happens when governments don't understand this balance
• What "mutualized infrastructure" means in practice and why no single entity owning critical testbeds might be the secret sauce
• How federal and provincial politics shape quantum strategy in Canada and what other countries can learn from it

Resources & Links

• Quantacet
• Institute for Quantum Computing (IQC)
• University of Sherbrooke Institute Quantique
• C2MI semiconductor fabrication facility
• QuantumDELTA

Key Insights

On the science vs. engineering debate:
"People ask if quantum computing is still a science problem or just engineering. It's both. Look at the vacuum tube to transistor transition—we needed new physics and new engineering. That's exactly where we are now."

On ecosystem building:
"Sherbrooke made a bet on condensed matter physics in the 1970s. Fifty years later, they have six dilution fridges available for rent and a quantum communication testbed owned by no one. That infrastructure patience is what builds real ecosystems."

On VC philosophy:
"Early-stage venture capital is about building great companies. The money is a byproduct. If you focus on the returns first, you'll make the wrong decisions every time."

On common misconceptions:
"The biggest myth is that quantum technology equals quantum computing. We have quantum sensors, quantum communications, post-quantum crypto—this is a multi-faceted industry, not a single magic box."

On balancing research and commercialization:
"You can't stop funding fundamental research just because commercialization is happening. The vacuum tube didn't kill physics research. We need both engines running or the whole thing stalls."

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