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EuropeIQM Announces EU Consortium to Accelerate the Commercialization of Quantum Computing

IQM Announces EU Consortium to Accelerate the Commercialization of Quantum Computing

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ESPOO, Finland, Feb. 12, 2021 — Europe has always been excellent in academic research, but over the past few decades commercializing research projects has been slow compared to international competition. This is starting to change with quantum technologies. As one of the largest efforts in Europe and worldwide, Germany announced € 2 Billion funding into quantum programs in June 2020, from which €120 Million are invested in this current round of research grants.

Today, IQM announced a Quantum project consortium that includes some of Europe’s leading startups (ParityQC, IQM), industry leaders (Infineon Technologies), research centers (Forschungszentrum Jülich), supercomputing centers (Leibniz Supercomputing Centre), and academia (Freie Universität Berlin) has been awarded € 12.4 Million from the German Ministry of Education and Research (BMBF) (Announcement in German).

The scope of the project is to accelerate commercialization through an innovative co-design concept. This project focuses on application-specific quantum processors, which have the potential to create a fastlane to quantum advantage. The digital-analog concept used to operate the processors will further lay the foundation for commercially viable quantum computers. This project will run for four years and aims to develop a 54-qubit quantum processor.

The project is intended to support the European FET Flagship project EU OpenSuperQ, announced in 2018 which is aimed at designing, building, and operating a quantum information processing system of up to 100 qubits. Deploying digital-analog quantum computing, this consortium adds a new angle to the OpenSuperQ project and widens its scope. With efforts from Munich, Berlin and Jülich, as well as Parity QC from Austria, the project builds bridges and seamlessly integrates into the European quantum landscape.

IQM Quantum Computers Design

“The grant from the Federal Ministry of Education and Research of Germany is a huge recognition of our unique co-design approach for quantum computers. Last year when we established our office in Munich, this was one of our key objectives. The concept allows us to become a system integrator for full-stack quantum computers by bringing together all the relevant players. As Europe’s leading startup in quantum technologies, this gives us confidence to further invest in Germany and other European countries” said Dr. Jan Goetz, CEO of IQM Quantum Computers.

“DAQC is an important project for Germany and Europe. It enables us to take a leading role in the area of quantum technologies. It also allows us to bring quantum computing into one of the prime academic supercomputing centres to more effectively work on the important integration of high-performance computing and quantum computing. We are looking forward to a successful collaboration,” said Prof. Dr Martin Schulz, Member of the Board of Directors, Leibniz Supercomputing Centre (LRZ).

About IQM Quantum Computers:

IQM is a European leader in superconducting quantum computers, headquartered in Espoo, Finland. Since its inception in 2018, IQM has grown to 80+ employees and has also established a subsidiary in Munich, Germany, to lead the co-design approach. IQM delivers on-premises quantum computers for research laboratories and supercomputing centers and provides complete access to its hardware. For industrial customers, IQM delivers quantum advantage through a unique application-specific co-design approach. IQM has raised € 71 Million from VCs firms and also public grants and is also building Finland’s first quantum computer.

For more information, visit www.meetiqm.com.

Source: IQM Finland Oy

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