Major gift promises to accelerate Princeton University’s leadership in quantum science
A major gift from Andy Florance ’86 and Heather Florance will support the Princeton Quantum Initiative and will accelerate the next generation of quantum science research and discovery at Princeton University.
“Andy and Heather Florance truly understand the potential of quantum science to generate path-breaking discoveries and catalyze innovation,” said President Christopher L. Eisgruber ’83. “They also appreciate the unique constellation of world-class talent and expertise at Princeton that positions the University for leadership in this field. We are deeply grateful for their generous partnership in support of the Princeton Quantum Initiative.”
The Princeton Quantum Initiative was launched in 2019 and is an interdisciplinary enterprise involving faculty, graduate students and postdoctoral researchers from the School of Engineering and Applied Science, the Department of Chemistry and the Department of Physics. Research teams’ work ranges from laboratory experiments with materials and devices to mathematical and computational studies that provide a foundational understanding of how quantum systems work.
“Quantum science has the potential to solve currently ‘impossible’ problems,’ and has major implications for Princeton’s research enterprise as well as our nation’s security and competitiveness,” said Andrew Houck ’00, dean of the School of Engineering and Applied Science and the Anthony H.P. Lee ’79 P11 P14 Professor of Electrical and Computer Engineering. “The Florances’ gift will fuel a future for quantum science that is filled with possibility.”
Houck also serves as chief scientist for the Co-design Center for Quantum Advantage (C2QA), a U.S. Department of Energy National Quantum Information Science Research Center led by Brookhaven National Laboratory. C2QA is one of five National Quantum Information Science Research Centers supported by the U.S. Department of Energy.
Quantum science is a strategic priority for the University, with similar goals to enhance scientific discovery and innovation. The Princeton Quantum Initiative is led by co-directors Ali Yazdani, the James S. McDonnell Distinguished University Professor of Physics, and Nathalie de Leon, associate professor of electrical and computer engineering. Princeton’s quantum research teams have announced several quantum breakthroughs in recent years, from building a new superconducting qubit that represents a major step toward practical quantum computers, to discovering new ways to study quantum materials using lab-grown diamonds.
“Princeton’s leadership in quantum information and quantum matter has the potential to transform not just computing, the design of new materials and secure technologies, but also our fundamental understanding of the universe,” said Andy Florance. “We’re proud to partner with the University to support the game-changing scientific innovation of the Princeton Quantum Initiative.”
Princeton’s strategic commitment to quantum science extends across teaching, learning and research; a quantum science and engineering Ph.D. program was launched in 2024, and the program’s first two cohorts of graduate students are fully engaged in the University’s interdisciplinary quantum research community.
Andy Florance is the founder and chief executive officer of CoStar Group, an S&P 500 company and the world’s leading provider of commercial real estate information, analytics, online marketplaces, and 3D digital twin technology. Florance founded CoStar Group in 1986 from his Princeton dormitory room with the conviction that technology could fundamentally reshape how the world’s largest asset class is bought, sold, leased, and understood. Nearly four decades later, the company he built serves millions of users across more than 100 countries, and under his leadership, CoStar Group has been recognized by Forbes and Fortune among the world’s most innovative and fastest-growing companies.
Florance has co-authored award-winning research on commercial real estate economics and serves on the board of Management Leadership for Tomorrow. He is a member of the Board of Trustees of Princeton University, and his University service has also included the President’s Advisory Council, the President’s Roundtable, and volunteering for Annual Giving and the Princeton Schools Committee. He received his A.B. in economics from Princeton in 1986 and an honorary doctorate from Virginia Commonwealth University in 2019.
Heather Florance is founder and chair of the Bunny Mellon Healing Garden Dedicated to the First Ladies of the United States at Children’s National Hospital in Washington, D.C. In 2025, she was appointed by the Governor of Virginia to the board of visitors of Mount Vernon, the historic home of George Washington. She is a member of the board of trustees for the Meridian International Center, a nonpartisan center for diplomacy in Washington, and serves on their Executive Committee.
Earlier in her career, Florance held positions at the American Stock Exchange in both Washington, D.C. and New York before joining the international trade consulting division of Mayer, Brown & Platt in Washington. She is a graduate of Southern Methodist University.
Heather and Andy Florance
The gift from Andy and Heather Florance is pivotal for the Princeton Quantum Initiative, said its co-directors.
“This is a new era for quantum science and engineering at Princeton,” said Yazdani. “This visionary support of our work is transformative at a critical juncture.”
“Princeton is a uniquely collaborative environment that allows researchers to make bold bets and deep contributions,” said de Leon. “We are excited to imagine the next horizon for the Quantum Initiative and all that this gift makes possible.”
