Intel will invest $50m in QuTech, a quantum computing research institute formed by the Delft University of Technology and Dutch Organisation for Applied Research.
Intel has also committed to provide engineering resources towards the 10 year research initiative along with technical support.
Quantum computing is expected to solve complex problems related to large-scale financial analysis and more effective drug development that are practically impossible with the present day technology.
Intel has been exploring Quantum computing because it has the ability to expand the capabilities of high performance computers as well.
Intel is planning to provide advanced manufacturing, electronics and architectural expertise to the university to extend its physics expertise and diverse quantum computing research efforts.
Intel said that companies need to collaborate for unlocking the path to advanced quantum computing, as it is impossible for an organisation to do it alone.
According to reports, Scientists have been trying to apply quantum physics to computing for a long time, and companies like IBM, Microsoft and Google are working actively in the field.
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QuTech lead scientist Lieven Vandersypen said: "In the next five to 10 years, progress in quantum computing will increasingly require the combination of excellent science with high-level engineering.
"For the realization of complex circuits containing large numbers of quantum bits, the know-how from the semiconductor industry is essential, and QuTech is thrilled to partner with the leading semiconductor company in the world."
