Quantum Technology Start-Up Accelerator Unveiled

(Gerd Altmann, Pixabay. https://pixabay.com/illustrations/physics-quantum-physics-particles-3871213/)

11 May 2023. A business incubator is underway to help start-up enterprises in Denmark working in quantum technologies, particularly with defense-related applications. The Deep Tech Lab – Quantum program in Copenhagen began today, as part of the BioInnovation Institute that offers life science start-up companies initial funding, working space, and business development assistance.

Quantum technology is a derivative of quantum physics, a discipline for describing the behavior of energy and matter at the atomic and more granular sub-atomic levels. When applied to computing, quantum technology offers a much different model than the conventional digital paradigm of data expressed in one or zero (1/0) values. Quantum computing allows for data processing in terms of probabilities, expressed in infinite quantum bits or qubits from 0 to 1, instead of digital bits expressed as 0 or 1, as well as calculations in multiple and simultaneous states.

BioInnovation Institute says it was tasked by the Danish government with creating a start-up incubator for quantum technologies modeled after its biotechnology accelerator programs. For biotech start-ups, the institute supports formation of new enterprises based on research in academic labs, including initial grant funds. BioInnovation Institute also supports newly formed companies with an incubator program and loans that can be converted to equity, as well as follow-on funding and in some cases on-site work space. The institute is funded by a 10-year grant from the Novo Nordisk Foundation, also a funder of research on quantum computing at the Neils Bohr Institute at University of Copenhagen.

Investment of €1 billion in dual-use technologies

Deep Tech Lab – Quantum is expected to be a contribution by Denmark to the Defense Innovation Accelerator for the North Atlantic or DIANA initiative to encourage defense-related deep technology R&D across the NATO alliance. The DIANA project includes support for at least 10 new-business accelerators, with an investor network backed by the NATO Innovation Fund that began in June 2022. The NATO Innovation Fund expects to invest some €1 billion in dual-use technologies such as quantum computing, artificial intelligence, biotechnology, advanced materials, energy, and space.

The NATO Center for Quantum Technologies at the Niels Bohr Institute that began in June 2022 is also a part of the DIANA initiative. “The DIANA quantum center,” says Jan Westenkær Thomsen, head of the Neils Bohr Institute in a BioInnovation Institute statement, “is a unique platform for expanding the Danish eco system and for attracting companies, talent, and investments in Danish high technology, and for further strengthening Danish research in the field of quantum technology.”

BioInnovation Institute expects start-ups taking part in Deep Tech Lab – Quantum to focus on dual-use applications of quantum science, as in advanced radar and communications. Participants in the accelerator, says the institute, will have access to investors and mentors, along with training from experts, office and lab space, and opportunities for equity investments. The initial group of start-ups in the program is expected in autumn 2023.

More from Science & Enterprise:

• $50M Challenge Seeks Quantum Life Science Applications
• Quantum, AI Systems Company Gains $500M in New Funds
• Start-Ups Partner on Quantum Computing and Longevity
• Infographic – Huge Quantum Computing Growth Forecast
• First U.S. Quantum Tech Incubator Underway

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