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  • 404trends #15 The Future of Quantum Computing | Latest Breakthroughs ⚛️

404trends #15 The Future of Quantum Computing | Latest Breakthroughs ⚛️

Author

Zaur T
April 04, 2024

Dear friends, founders, and anyone who's ever dreamed of building a quantum computer in their garage,

It is a beautiful Thursday morning, and I am writing this newsletter filled with excitement. The sun is shining, the birds are chirping, and my cat Schrödinger is both asleep and awake at the same time.

Today, we'll explore the mind-bending realm of quantum computing, where bits can be both 0 and 1 simultaneously, and the future of computing is as uncertain as a quantum state.

Before you start

This is not a free newsletter. The only currency I currently accept is your rising blood pressure from reading this publication. If you read this newsletter at least two times and enjoyed it, copy the link and send it to one friend. 

If you don’t want to share publicly on socials, it’s fine. One friend who you think will like it will bring more value than a random subscriber.

What’s Inside

  • The Quantum Computing Trend Alert

  • Tech Giants and Startups Leading the Charge

  • Essential tools for quantum developers

  • Quantum investments and funding news

  • Business ideas in the quantum computing space

  • Grants and programs to fund your startup

Quick Stats For Nerds

  • Quantum computers need to be kept extremely cold, close to absolute zero (-273°C or -460°F).

  • Global funding for quantum technology startups more than doubled from $700 million in 2020 to $1.4 billion in 2021 and is expected to reach $64.98 billion by 2030, growing at a CAGR of 56.0%🔥 from 2021 to 2030

  • China has announced planned investments of around $15 billion for quantum technology development, the highest globally.

  • IBM plans to build a 1,000-qubit quantum computer by 2023

  • Google achieved quantum supremacy in 2019 with a 53-qubit processor

  • Quantum computers could solve problems that would take classical computers billions of years in just seconds

  • The idea of quantum computing was first proposed by physicist Richard Feynman in 1982, but practical quantum computers are still in early stages nearly 40 years later.

Rising Trend: Quantum Computing

Quantum computing uses the principles of quantum mechanics to perform complex calculations and solve problems that are intractable for classical computers. By leveraging quantum bits (qubits) that can exist in multiple states simultaneously, quantum computers have the potential to revolutionize fields like cryptography, healthcare, and fintech.

Why It Matters:

Do you think AI is big? Well, quantum computing will be much bigger. Quantum computing is expected to have a significant impact on several key industries like Finance, Healthcare, Cybersecurity, Logistics, AI and ML, Chemistry, Defense, Aerospace, Energy, Telecommunications, the list goes on and on.

Companies Involved In Quantum Computing

  • IBM: Developed Qiskit framework and offers cloud-based quantum systems.

  • Google: Achieved quantum supremacy in 2019 and created Cirq library.

  • Microsoft: Developing Azure Quantum platform and Q# language.

  • Amazon: Offers Braket, a fully managed quantum computing service.

  • D-Wave Systems: Develops quantum annealing processors and Ocean software suite.

  • IonQ: Leading developer of high-accuracy trapped-ion quantum computers.

  • Xanadu: Focuses on photonic quantum computing and created PennyLane library.

  • Zapata Computing: Provides Orquestra platform for quantum workflows.

  • Quantum Circuits Inc.: Develops superconducting quantum computers and Quantum Playground.

  • Qiskit: Open-source quantum computing framework for building quantum programs

  • Cirq: Python library for writing, manipulating, and optimizing quantum circuits

  • Q#: Microsoft's open-source programming language for quantum computing

  • Ocean: D-Wave's suite of tools for solving optimization problems on quantum computers

  • Strawberry Fields: Xanadu's cross-platform Python library for simulating and executing quantum algorithms

  • Orquestra: Zapata's platform for building and deploying quantum workflows

  • Pennylane: Cross-platform Python library for quantum machine learning, automatic differentiation, and optimization

Promising Startups in Quantum Computing

  1. Quantum Source, Founded in 2021, based in Israel. Developing quantum random number generators and entropy sources

  2. Quantum Art - Founded in 2022, based in Israel. Develops ion trap quantum computers based on research from the Weizmann Institute of Science

  3. Quantum Machines, Founded in 2018, based in Israel. Develops quantum control systems for superconducting quantum computers

  4. Classiq, Founded in 2020, based in Israel. Provides software to model, synthesize and analyze quantum circuits

  5. Multiverse Computing Spanish quantum software company founded in 2019

  6. Universal Quantum UK-based startup founded in 2018, focused on building large-scale quantum computers using trapped ions. Backed by investors including Jeff Bezos and has raised $14.99 million to date

  7. Atom Computing Founded in 2018, based in Berkeley, California. Building scalable quantum computers using optically trapped neutral atoms

  8. Riverlane Quantum software startup based in Cambridge, UK, founded in 2016. Developing Deltaflow.OS - an operating system for error-corrected quantum computers

  9. Infleqtion was awarded a contract to develop and deliver a cutting-edge neutral atom quantum computing testbed for the UK's National Quantum Computing Centre (NQCC)

Recent Investments in Quantum Computing

  • PsiQuantum raised $450M in Series D funding led by BlackRock to build a million-qubit quantum computer.

  • Nanofiber Quantum Technologies (NanoQT) Raised $8.5 million from Phoenix Venture Partners (US), JAFCO Group, SPARX Group, Keio Innovation Initiative, and Waseda University Ventures (Japan).

  • QphoX Received €8.0M (~$8.7M) led by QDNL Participations, alongside the EIC Fund, Quantonation, Speedinvest, High-Tech Gründerfonds, and Delft Enterprises.

  • Rebellions Raised $124.0M in Series B funding led by KT Corp, with participation from several Korean investors.

  • High Q Technologies Received $3.7 million from the Government of Canada through the Regional Quantum Initiative.

  • Foqus Technologies Received $601,975 from the Government of Canada through the Regional Quantum Initiative.

  • Rigetti Computing raised $79M in Series C funding to accelerate its quantum computing roadmap.

  • Cambridge Quantum Computing merged with Honeywell Quantum Solutions to form Quantinuum, a quantum computing powerhouse.

How to jump in

It seems challenging for small players or startups to enter the quantum computing industry with limited investments due to several factors:

  1. High infrastructure costs: Building quantum computers requires specialized hardware like cryogenic cooling systems, precision control electronics, and high-end fabrication facilities.

  2. Talent shortage: There is a significant lack of workforce with the interdisciplinary skills (quantum physics, mathematics, computer science, engineering) needed to develop quantum technologies.

  3. Long-time horizons: Startups need to sustain long periods of R&D without near-term revenue, which requires substantial funding

  4. Current market demand for quantum computing and commercial applications are still limited and speculative. This makes it risky for startups relying on near-term revenue

However, there are still opportunities

  1. Learn fast. Apply for courses, programs, read a lot and visit events for networking with professionals.

  2. Start a news platform with curated news, analysis, and insights on the rapidly evolving quantum computing landscape.

  3. Build an online community for collaboration, knowledge sharing, and networking among quantum researchers, developers, and enthusiasts.

  4. Create quantum computing education and training programs for developers and researchers

  5. Offer marketing, content creation (blogs, videos, infographics), and social media management services tailored to quantum technology companies and startups.

  6. Start a niche recruitment firm that specializes in sourcing and matching quantum talent (physicists, engineers, programmers)

Try to applying to grant programmes

United States

Europe

Middle East

Asia

Global opportunities

Further Reading

20 Influential individuals driving the Quantum Technology Revolution

The article "20 Influential Individuals Driving The Quantum Technology Revolution" from Quantum Zeitgeist highlights key people shaping the future of quantum computing and quantum technologies. It includes profiles of individuals from various roles, such as evangelists, entrepreneurs, researchers, developers, and investors. The list features people like Robert Sutor (IBM), Ilyas Khan (Cambridge Quantum Computing), Seth Lloyd (MIT), Maria Schuld (Xanadu), and Christophe Jurczak (Quantonation).

While not exhaustive, the article showcases the diverse range of expertise driving the quantum technology revolution across research, development, entrepreneurship, and investment.

Want to promote your business to my community of 250+ entrepreneurs and investors? Reply “advertise”

Wrap Up 🥳

That's a wrap on this week's quantum computing extravaganza! If this newsletter entangled your curiosity, feel free to share it with your friends and colleagues.

Until next time,

Zaur

P.S. Got a burning question or a brilliant idea? Drop me a message, and let's make magic happen together.

What I read this week

  1. Last week I started to read the lectures on physics written by Richard Feynman, and published for free on Caltech website. It’s very easy to read because of the simple language and good examples.

  2. In this article, Scott Galloway shares insights on achieving financial security based on his experiences as a founder, professor, parent, and mentor. He mentions that wealth is determined by key variables focus, stoicism, time, and diversification.

What did you miss from previous trends: