When taking ambitious risks in the advanced technology industry, Elevate Quantum CEO Zach Yerushalmi knows not every swing connects to the ball.

The quantum tech hub recently struck out, as its Quantum Moonshot initiative was not named a finalist for the U.S. National Science Foundation Regional Innovation Engines program. If it won, the award could have brought up to $160 million in funding for quantum breakthroughs and technology commercialization over 10 years.

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