University College Dublin Quantum Computing Spin-out wins Prestigious Institute of Physics Prize
Equal1, a University College Dublin (UCD) quantum computing spin-out, has been announced as the winner of the prestigious Institute of Physics' Quantum Business Innovation and Growth (qBIG) prize for its technological advancements in quantum computing.
The qBIG Prize recognises and honours SMEs at the forefront of quantum technology development across the UK and Ireland and this recognition underscores Equal1’s groundbreaking achievements towards the commercialisation of quantum computing.
The prize announcement was made yesterday evening at The Economist’s Commercialising Quantum Global event held in London. The event was sponsored by Quantum Exponential plc, the UK’s pioneering enterprise venture capital fund dedicated to quantum technology.
Equal1, headquartered at NexusUCD in Dublin, one of the world’s leading silicon quantum computing companies, is poised to disrupt the market with its compact rack-mountable quantum computers.
Jason Lynch, CEO, Equal1, said, “Winning the qBig prize marks a significant milestone for Equal1, affirming our forward-thinking approach to quantum computing. Our vision is centred on developing compact, rack-mounted quantum computers that seamlessly integrate into standard data centre infrastructures. This achievement is made possible by our groundbreaking Quantum System-on-Chip technology, powered by the UnityQ chip. As we move forward this recognition fuels our commitment to advancing this technology, making quantum computing more practical and accessible."
He added, “I’d also like to congratulate the other finalists who are making equally incredible advancements in the quantum space."
Equal1’s rack-mountable quantum computers are powered by UnityQ, Equal1’s version of a Quantum System-on-Chip (QSoC), which essentially integrates quantum and classical components onto a single silicon chip. This technology signals a transformative leap in quantum computing, enabling the development of quantum computers of a very compact size.
Leveraging commercial foundry processes, UnityQ enables Equal1 to engineer compact quantum processors that seamlessly fit into today’s data centre infrastructure, offering advantages in size, energy consumption and cost-efficiency compared to traditional systems.
IOP Director of Science, Innovation and Skills, Louis Barson, said, “Today marks a momentous occasion as we celebrate the remarkable achievements of Equal1 and all the participants of the IOP qBIG Prize. Their dedication and innovation are integral to driving progress in the UK and Ireland's economy and technology sector.
It’s great to see the qBIG group and its prize going from strength to strength, and as the IOP represents the UK and Ireland it’s particularly nice to be celebrating an Irish winner of the prize.”
He added, “Congratulations to Equal1 and all the runners-up for their exceptional contributions. We are thrilled to continue supporting them on their journey of innovation alongside Quantum Exponential.”
Equal1 will receive £10,000 in an unrestricted cash prize, 10 months’ mentoring from the Quantum Exponential team, access to the IOP’s growing business community of industrial quantum physicists, engineers, innovators and entrepreneurs via the qBIG group, access to the Institute of Physics’ Accelerator workspace and a presence in the IOP’s annual Business Awards showcase exhibition to be held in the Palace of Westminster.
Equal1 is supported by funding from Atlantic Bridge, Matterwave Ventures, Enterprise Ireland, European Innovation Council and 808 Ventures. The company also has offices in the US, Canada, the Netherlands and Romania in addition to Dublin.
The qBIG prize runners-up were, NIQS Tech, which developing a quantum-based glucose monitoring sensor for diabetes management and Aquark Technologies, which is developing an advanced, accessible and robust cold matter platform for sensing and computing applications.
ENDS
7 June 2024
For further information contact Micéal Whelan, Communications and Media Relations Manager, UCD Research and Innovation, e: miceal.whelan@ucd.ie.
Editors Notes
Founded by experts in quantum physics and semiconductors, Equal1 aims to democratise quantum computing by making it accessible and affordable with its innovative quantum silicon technology. By integrating the entire quantum computing system onto a single chip, Equal1 significantly reduces the size and cost of quantum computers, transforms their performance and scalability, and opens up a world of possibilities in sectors like pharmaceuticals, finance, materials science, and more. https://www.equal1.com/