HCL Technologies and Sydney Quantum Academy to collaborate on quantum technology ecosystem development

SYDNEY,July 29,2022 -- HCL Technologies (HCL),a leading global technology company,and the Sydney Quantum Academy (SQA) have signed a Memorandum of Understanding (MoU) to help accelerate the development of the quantum technology ecosystem in Australia.

SQA is a unique partnership between four world-leading universities – Macquarie University,the University of New South Wales,the University of Technology Sydney,and the University of Sydney. SQA is supported by the New South Wales (NSW) government with a vision to build Australia's quantum economy.

Through this industry-academia partnership,HCL Technologies and SQA aim to bring together their capabilities to create education and development opportunities for students within the realm of quantum technology. Other opportunities,which will be explored as part of the MoU,will connect HCL's diverse and large client base with the growing Sydney quantum community. Sydney is home to one of the highest concentrations of quantum experts globally,along with a burgeoning quantum technology industry.

HCL has built deep capabilities in next-generation technologies including quantum computing. The Company is helping enterprises and partners to capitalize on the emerging opportunities thrown up by quantum technologies through a ready-to-innovate ecosystem. This includes identified quantum champions (technology and business),research IPs,use-cases and scale-ready offerings (Proof of Concepts and Fluidic Capability Centers).

Startup Ecosystem Innovation Platform & Program – eSTiP™,an initiative by HCL to co-create through an open innovation model,aims to harness the mammoth potential of quantum computing across industry domains by leveraging the strength of the global open innovation ecosystem including startups,academia,venture capitalists (VC) and trade missions.The eSTiP™ ecosystem currently has more than 1500 startups,8 VCs,16 innovation partners and 6 academic partners.HCL currently offers Quantum Inspire Services through Azure marketplace to consult,pilot and build capability centers.

Quantum technology promise to transform many areas of life,just as classical information technology has done. The potential applications for quantum technology cut across health,agriculture,finance,transport,ICT,security,and defense. As these technologies rapidly develop,industries will potentially be able to solve complex problems. SQA's programs are designed to develop the expertise and workforce required to deliver these future applications and help businesses prepare for emerging technology. The MoU provides a platform for HCL and SQA to explore opportunities to both build capability and awareness.

Swapan Johri,President – Growth Markets,HCL Technologies said,"As one of the leading global technology companies,we are always ready to explore opportunities to incubate new technologies that will benefit enterprises and the community at large to run their businesses efficiently. We believe in exploring open innovation and helping enterprises kick-start their innovation journey using quantum computing. The funding for quantum-related research comes largely from the public sector and I am happy to see that the NSW and the federal government are strongly engaged."

"The future of quantum computing looks promising with the developers of quantum systems working hard to deliver fault-tolerant quantum computing. HCL Technologies is eager to begin this journey with Sydney Quantum Academy to promote a deeper understanding of quantum technologies. Australia is a significant and growing business for HCL Technologies. By strengthening our investments in the local ecosystem,we will be able to charter new avenues in technology,training and skill development. These investments are part of ongoing engagements with our clients who are present with the trade mission." added Swapan Johri.

The recently released Tech Trends 2022 by HCL Technologiessaid enterprises will continue to streamline quantum computing services through the cloud to achieve breakthroughs. Quantum computing on top of the cloud helps create super-powerful encryption and is used in experimental research and development.

For further details,please contact:

HCL Technologies

Meenakshi Benjwal,Americas

meenakshi.benjwal@hcl.com

Elka Ghudial,EMEA

elka.ghudial@hcl.com

Devneeta Pahuja,India and APAC

devneeta.p@hcl.com