18.11.2020

IQM – Participation in Public Procurement for Finland’s First Quantum Computer

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Our client IQM, a Finnish start-up, and VTT Technical Research Centre of Finland have entered into an agreement to establish a co-innovation partnership and begin building Finland’s first quantum computer. The overall goal of the project is to build a 50-qubit device by 2024.

We advised IQM in the public procurement procedure and certain contractual issues.

VTT selected IQM as its innovation partner as a result of an international public tender procedure. IQM is a European leader in building quantum computers.

The cooperation will bring together expertise in quantum technologies and enable a leap in Finland’s quantum capabilities. The computer will be built in Espoo, Finland, at VTT’s and Aalto University’s joint national research infrastructure Micronova. Work will begin already during 2020.

“We are proud to be part of this cooperation and excited to work with the leading experts from VTT. This project is extremely prestigious for us and will offer a great opportunity to work together in ways that help build the future of quantum technologies,” says Jan Goetz, CEO of IQM.

Earlier this month, IQM announced the completion of a new successful funding round, which has brought its total funding to EUR 71 million.

Quantum technologies create new opportunities for Finland

“By investing in disruptive technologies like quantum computing, we invest in our future ability to solve global problems and create sustainable growth,” says VTT’s President and CEO Antti Vasara.

The Finnish Government has granted the project a EUR 20.7 million funding.

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