Pure-play Quantum · Incubator / Accelerator

Creative Destruction Lab - Quantum Stream

CDL's Quantum Stream, launched in 2017 as a world-first quantum accelerator, runs a 10-month objectives-based program across Toronto, Montreal and San Sebastian for startups in quantum computing, communication, sensing and components. Non-profit, no fees, no equity; alumni include Xanadu, Multiverse Computing, ORCA Computing and Diraq.

Active Toronto, CanadaFounded 2017

Investment thesis

CDL Quantum Stream, launched in 2017 at CDL-Toronto (Rotman School of Management, University of Toronto), was a world first: a startup program dedicated to quantum technologies. It admits one cohort annually into a 10-month, objectives-based program: an intensive 2-week technical and business bootcamp followed by five objective-setting sessions, now running across CDL-Toronto, CDL-Montreal (HEC Montreal, since 2024) and CDL-San Sebastian (BIC Gipuzkoa and IESE, since 2025). CDL is a non-profit: no fees, no equity. Founders work with mentors who include quantum founders and operators such as John Martinis (UC Santa Barbara, ex-Google), Sam Mugel (CTO, Multiverse Computing) and Michael Helander (CEO, OTI Lumionics), plus dedicated quantum scientists. Per CDL (April 2024), Quantum Stream alumni had collectively raised over CAD 825M (about USD 610M) and CDL estimates its graduates represent roughly one-fifth of quantum startups globally. Alumni include Xanadu, which in March 2026 became the first CDL alumni company to go public (Nasdaq/TSX: XNDU).

Anti-thesis

The patterns that trigger a fast no with this fund.

  1. Companies with no quantum component (the stream targets novel innovations in quantum computing, communication, sensing, components, software and algorithms)
  2. Pure consulting or services businesses with no scalable product (CDL targets massively scalable, science-based ventures)
  3. Founders unwilling to be coached or to commit to the objectives-based cadence (CDL explicitly selects highly coachable, technical founders; mentors decide every 8 weeks which ventures continue)
  4. Teams seeking capital from CDL itself (CDL is a non-profit: it provides mentorship and network, not funding or equity)
  5. Companies that cannot engage with the 10-month rhythm (2-week bootcamp plus five sessions in Toronto, Montreal, San Sebastian or virtual)

Notable quantum portfolio

Full portfolio
XanaduMultiverse ComputingAgnostiqEntropica LabsMenten AIHaiqu

Frequent co-investors