TQI QuickBits: Quantum Elevated. Kvantify Quantified. And More News in Quantum.
The Quantum Insider
Making Quantum Technology accessible through media, news, insights and data
Huge congratulations to the Elevate Quantum team and all that were involved in the work to pitch that ecosystem as the nation's quantum tech hub. And work is probably an understatement -- we should also add commitment and sacrifice.
And even though that work was hard, it might be the easy part. Now, the team will drive toward building a community of researchers, policymakers and entrepreneurs that can bring about tomorrow's quantum computers and quantum technology to tackle some of the world's greatest societal and scientific challenges.
So. No pressure.
More congratulations to Kvantify for its €10 million seed round. The team -- who happen to be a really nice bunch, by the way -- say this funding is aimed at accelerating the development of solutions that can use quantum computing to solve complex problems in drug discovery and more.
Good luck to Kvantify!
Have a great weekend!
And to our US friends -- Happy Independence Day weekend!
Quantum Events
I wanted to give a shout out to upcoming partner events for the quantum community. Mark these on your calendar:
July 15-26 -- Qiskit Global Summer School: The Path to Utility. IBM's two-week course designed to help prepare participants for the era of quantum utility.
July 22-24 -- The third annual UK Quantum Hackathon, delivered by the NQCC will take place at the University of Warwick from 22nd to 24th July 2024. The event is part of the NQCC’s SparQ programme, aimed at exploring and raising awareness of the current capabilities of quantum computing, nurturing the talent pipeline, and connecting stakeholders.
Aug 26 -- Q-Camp will start on Mon, 26 Aug and last two weeks. In person summer school is organised by the University of Gdańsk and ICTQT. Kainos supports the initiative. Q-Con – conference about Quantum Future will be held on the final day -- Sept. 6.
Sept. 23-25 -- Quantum.Tech Europe will return to Twickenham Stadium on Sept. 23 – 25, 2024.
Oct. 4-6 -- The GenQ Quantum Hackathon will be held in Calgary this October! Organized by QAI Ventures Canada, powered by Quantum City, and the University of Calgary. More details.
Oct. 7 -- The City Quantum & AI Summit, now in its fourth edition, will be held October 7th at the Mansion House in London.
Want more important information on quantum? Don't forget to subscribe to TQI's official weekly newsletter for a complete wrap up of all the news in quantum!
Upcoming Earnings
August 8 -- D-Wave Quantum Inc. Common Shares is estimated to report earnings on 08/08/2024. According to Zacks Investment Research, based on 1 analysts' forecasts, the consensus EPS forecast for the quarter is $-0.09. The reported EPS for the same quarter last year was $-0.14.
August 8 -- Rigetti Computing, Inc. Common Stock is estimated to report earnings on 08/08/2024. According to Zacks Investment Research, based on 1 analysts' forecasts, the consensus EPS forecast for the quarter is $-0.06. The reported EPS for the same quarter last year was $-0.13.
August 12 -- Quantum Computing Inc. - Quantum Computing Inc. Common Stock is estimated to report earnings on 08/12/2024. The reported EPS for the same quarter last year was $-0.05.
(The upcoming NASDAQ earnings dates are derived from an algorithm based on a company's historical reporting dates and may need to be revised.)
Quantum Quotes
Kvantify is receiving backing from impressive investors for their recend seed round -- a few of whom commented on why they feel this company is special.
“Kvantify’s focus on applying quantum computing to life sciences and further industrial use cases across various sectors aligns with our strategic vision of advancing practical and impactful quantum solutions. With their interdisciplinary team, in-depth knowledge of quantum technology, and innovative approach to enhancing computational efficiency, Kvantify is perfectly placed to bring tremendous value to commercial markets.†– Marco Stutz, Partner at Redstone.
Elevate Quantum was awarded with the Tech Hub Phase 2 Implementation grant by the Department of Commerce. What this means is that it will unlock over $127 million in new federal and state funding. Dignitaries weighed in on this week's monumental announcment.
“Tech Hub designation is only the beginning for the quantum industry in New Mexico. Our state has a long history of innovation and embracing frontier technologies, and it’s possible that quantum-enabled technology could become the most game-changing innovation of this generation. We want to thank Gov. Polis and our counterparts in Colorado, and the Elevate Quantum team, for all the work they’ve done to make the Mountain West the epicenter for quantum-enabled technologies in the United States.†-- New Mexico Governor Michelle Lujan Grisham
QuickBits Spotlight
The Biden-Harris Administration, through the U.S. Department of Commerce’s Economic Development Administration (EDA), announced another funding round of approximately $504 million in implementation grants to 12 Tech Hubs to scale up the production of critical technologies, create jobs in innovative industries, strengthen U.S. economic competitiveness and national security, and accelerate the growth of industries of the future in regions across the United States.
Elevate Quantum Tech Hub, which focuses on quantum information technology, was awarded an estimated $41 million.
Insider Look:
No quantum company is an island, John Donne might have said if he were a subscriber of The Quantum Insider Intelligence Platform. Users get a real sense about-- and a better handle on -- these complex communities of businesses, startups, government entities, research institutions, customers, etc. the become the nodes and edges that make up an ecosystem
Seeing a literal map of this archipelago can guide more strategic decision making and more efficiently tactical steps.
Learn More about The Quantum Insider's Intelligence Platform.
QuickBits Capital Markets
Kvantify , a leading quantum software start-up, has announced the successful closure of a EUR 10 million seed round. This funding will enable Kvantify to strengthen its position as a global leader in quantum computing, with an initial focus on developing applications for the life science sector. The investment will accelerate the development of Kvantify’s innovative solutions that aim to leverage quantum computing to address complex problems in drug discovery and beyond. It will also boost the further development of quantum algorithms for chemical simulation, expanding their applicability across various industries.
领英推è
QuickBits Business
Elevate Quantum said in a statement that the Tech Hub Phase 2 Implementation grant by the Department of Commerce, will unlock over $127 million in new federal and state funding. This investment is projected to catalyze more than $2 billion in additional private capital, establishing the Mountain West as a global leader in quantum technology, the organization added.
Quantum computing is still in its early stages of development — but its potential to power transformative uses in everyday life — from finding new drug therapies to designing materials that can help tackle climate change — is revving up enthusiasm for the technology.
At the Tech.eu Summit in London, Dr. Ken Urquhart, Global Vice-President of 5G/Edge/Satellite at Zscaler, and Steve Brierley, Founder and CEO of Riverlane, discussed the critical intersection of artificial intelligence (AI), cybersecurity and quantum computing. Moderated by Duygu Oktem Clark, Managing Partner at DO Venture Partners, the talk underlined both the challenges and opportunities these technologies present.
In an interview from Pasqal Thoughts 2024, Herman Van Vlijmen, a leading figure at Johnson & Johnson, examined the transformative potential of quantum computing in the pharmaceutical industry. As quantum computing evolves, its application in pharmaceuticals is poised to revolutionize various processes from drug discovery to optimization problems across different domains within the industry.
Harvest Now Decrypt Later’ (HNDL) attacks currently represent the world’s greatest existential cybersecurity threats. These attacks see hostile actors steal encrypted data now, which can be decrypted once a cryptographically relevant quantum computer (CRQC) emerges.
...Subscribe to TQI's official weekly newsletter for a wrap up of all the business news in quantum!
QuickBits Research
Quantum computing is a rapidly growing technology that utilizes the laws of quantum physics to solve complex computational problems that are extremely difficult for classical computing. Researchers worldwide have developed many quantum algorithms to take advantage of quantum computing, demonstrating significant improvements over classical algorithms. Quantum circuits, which are models of quantum computation, are crucial for developing these algorithms. They are used to design and implement quantum algorithms before actual deployment on quantum hardware.
Quantinuum and the University of Colorado say they have — for the first time — entangled four error-protected logical qubits that have better fidelity than their physical counterparts. It’s not just an academic exercise, though. They report in a paper they posted on the pre-print server ArXiv that the system will improve the accuracy of quantum operations leading to an enhancement in error protection and operational reliability, both crucial steps towards making quantum computers a practical reality.
Researchers at the Caltech report that they incorporated quantum physics into traditional wireless network to create a new system that would be, among other things, compact, scalable and secure. The researchers refer to the innovation as the quantum phased array (QPA), according to a paper posted on the pre-print server ArXiv.
A classical computer has outperformed a quantum computer in a task that was once thought to be fit only for a quantum machine. Researchers from the Shanghai Artificial Intelligence Laboratory in China have demonstrated that their classical computing system, leveraging over 2300 Nvidia A100 GPUs, can execute a complex computation faster and more energy-efficiently than Google’s quantum processor Sycamore.
...Subscribe to TQI's official weekly newsletter for a wrap up of all the news in quantum!
Interested in Deep Tech? Resonance is connecting the world's most innovative technologies with the marketplace through its media and intelligence platforms, including Digital Twin Insider, Climate Insider, AI Insider and Space Impulse.
It's great to see so many quantum projects are being realized and we believe that quantum has the potential to tackle some of today's most pressing issues.